Income Tax Return: What happens if you fail to file ITR by the due date

Taxpayers who have missed the due date will still be able to file their ITR. An ITR filed after the due date is called a 'Belated Return'. So, there are two significant dates for ITR filing: the due date and the last date. The due date and last date for filing. The due date for taxpayers had been extended to December 31, 2021, but the last date is still March 31, 2022. But filing ITR past the due date comes with certain penalties. Watch to find out.