Extension of Return Filling Date – Are You Going To Be Benefited?

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If the total self-assessment tax amount you have to pay exceeds Rs 1 lakh, i.e, the tax your are required to pay before filing ITR for FY 2020-21, then you should deposit the tax due before July 31, 2021. If you miss the deadline, you will have to a pay penal interest under section 234A of the Income Tax Act 1961