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Income Tax Return: Haven’t filed your ITR yet? Here’s what happens if you fail to file ITR by due date

The deadline for the income tax return or ITR filing for AY 2021-22 will end after December 31, 2021. However, if you still miss filing your ITR before the due date, you will have another chance to file your income tax.

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Income Tax Return deadline extended to March 15

The New Year is about to ring the bell in the next few hours and before you plan anything else for the new year party, firstly make sure that you have your income tax return by the due date, which is December 31, 2021. Filing ITR should be a top priority if you have not filed it yet, make sure that you file your ITR by today midnight.

The deadline for the income tax return or ITR filing for AY 2021-22 will end after December 31, 2021. However, if you still miss filing your ITR before the due date, you will have another chance to file your income tax.

As per ITR experts, the due date of ITR filing is December 31, 2021, while the last date for ITR filing for FY 2021-22 is March 31, 2022. But in case of missing to file the ITR by the due date December 31 2021, a taxpayer will have to pay a flat fine of Rs 5,000, if the taxable income is more than Rs 5 lakh. If taxpayers do not make it to file the ITR by the due date, they will also lose some benefits, such as carry forward of losses, interest on the excess tax paid by the taxpayers.

As per ITR experts, a taxpayer will have to pay a late fine of Rs 5,000, if their taxable amount is more than Rs 5 lakh, while those whose taxable amount is below Rs 5 lakh, will have to pay a late fine of Rs 1,000.

Read Also: IT raids on SP MLC Pushparaj Jain aka Pampi, maker of Samajwadi perfumes

And for those who do not file their income tax return (ITR) at all, the Income Tax Department will charge a penalty between 50-200 per cent of the assessed tax and there is also a provision of prosecution ie., rigorous imprisonment of up to 7 years.

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Why no govt official has been named in Mahadev betting app case?

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By Neeraj Mishra

A Rs 94,000-crore betting scam took place in the country and so far the only police official taking the heat is a measly ASI. The Chhattisgarh government, the CBI and the ED would all like us to believe that a betting racket backed by hawala operators spread right up to Dubai could be run on the shoulders of an Assistant Sub-Inspector of Durg district! And all this alleged money was made within three years of operations making it the most profitable venture ever.

The fact is that big names are hiding behind the curtains pulled tight together by the investigators themselves. There is an IG rank officer, two SPs, two IAS officers and several other state police officials who have been named by sources and perfunctorily questioned with no great enthusiasm by the investigating agencies. Their political masters are protecting them both from investigations and the media.    

This Wednesday a special CBI court in Raipur granted the CBI eight-day remand of alleged kingpin Saurabh Chandrakar, who was finally extradited by Oman after months of back and forth. The CBI for some strange reason then requested the court to take Chandrakar to Delhi to which the accused’s lawyer also did not object. Since the original crime scene is in Durg and most of the possible dubious characters are in Raipur, one would assume keeping him in Chhattisgarh would have been appropriate.

But perhaps it’s a bigger ring and the CBI is also aware of the pitfalls ahead. Rs 94000 crore is a figure in the chargesheet but knowledgeable sources in the gambling racket in the state believe that  while Mahadev book was initially backed by people close to then Chief Minster Bhupesh Baghel, it was later taken over by the IPL gangs since the main source of income is the IPL season. It is estimated that more than Rs 25000 crore changed hands every season. The handlers or the Khai party easily makes almost half of it nice and clean.

Baghel’s son and some of his sidekicks have been questioned but not named in the chargesheets so far. On the day Chandrakar was being produced in Raipur court, his partner in crime Ravi Uppal was arrested in Dubai and may soon be extradited. But the way things are, no big names will come out.

It’s possible that Baghel may face the heat when the 2028 state assembly elections come around but it is also clear that the Mahadev operations have probably been taken over by some other gang backed by some powerful political bosses in India. So Chandrakar was allowed to get married in Dubai with Bollywood stars in attendance and not extradited for two years. Now that everything has been snatched from him and he is no longer an asset, he’s surrendered along with Uppal. Mahadev, believe this writer, will live on.

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Farooq, Omar Abdullah to meet upset NC MLAs amid party discontent

Farooq Abdullah and Omar Abdullah are set to meet National Conference MLAs who have raised concerns following the recent Cabinet expansion in Jammu and Kashmir.

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Omar Abdullah

Jammu and Kashmir National Conference (NC) president Farooq Abdullah and Chief Minister Omar Abdullah are set to meet a group of party legislators who have raised concerns following the recent expansion of the Union Territory’s Council of Ministers.

The meeting is scheduled in Srinagar on Friday as the party leadership attempts to address grievances raised by several NC MLAs. Reports indicate that the legislators had met separately ahead of their interaction with the Abdullahs to finalise the issues they wanted to raise. 

The developments come days after Omar Abdullah expanded his Cabinet, inducting four new ministers and dropping Independent MLA Satish Sharma from the Council of Ministers. The reshuffle has led to discontent among sections of the ruling National Conference, particularly among legislators who were not included in the new ministerial team. 

What the NC MLAs want

The legislators have raised concerns about the functioning of the party and government, including the need for greater authority for elected representatives, stronger party organisation at the grassroots level and better implementation of commitments made to voters.

Some members of the group have also demanded changes involving ministers and the Chief Minister’s advisor Nasir Aslam Wani. Earlier reports said the legislators had prepared a memorandum outlining their grievances and demands. 

The group has stressed that its concerns are aimed at strengthening the party rather than destabilising the government. One legislator described the focus as improving the party’s functioning at the grassroots level and ensuring that MLAs are empowered to address public grievances.

Cabinet expansion triggered tensions

The latest discontent followed Omar Abdullah’s Cabinet expansion, under which four new ministers were inducted. They include Ali Mohammad Sagar, Mir Saifullah, Shamima Firdous and Altaf Ahmad Kaloo. Independent MLA Satish Sharma was dropped from the Council of Ministers. 

The Cabinet changes had already prompted concerns among some senior legislators over ministerial representation and the functioning of the party organisation. The disagreement has since developed into a broader discussion about the role and empowerment of elected representatives.

The meeting with Farooq and Omar Abdullah is therefore significant as the party leadership seeks to engage directly with the legislators and address their concerns.

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Hardeep Singh Puri elected unopposed to Rajya Sabha from Madhya Pradesh

Union Minister Hardeep Singh Puri has been elected unopposed to the Rajya Sabha from Madhya Pradesh after the nominations of two other candidates, including a Congress-backed nominee, were rejected.

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Hardeep Puri

Union Petroleum Minister and Bharatiya Janata Party (BJP) leader Hardeep Singh Puri has been elected unopposed to the Rajya Sabha from Madhya Pradesh. The announcement was made on Thursday after the deadline for withdrawal of nominations ended, leaving Puri as the only candidate in the contest.

Puri’s election followed the rejection of nomination papers filed by two other candidates, Kante Sayanna and Rajkumar Lohani, who was backed by the Opposition Congress. Their nominations were rejected during the scrutiny process, making Puri the sole candidate remaining in the fray.

Returning Officer Umesh Sharma formally declared Puri elected to the Upper House of Parliament. Madhya Pradesh BJP president Hemant Khandelwal collected his certificate of election from the returning officer in the presence of party MLA Rameshwar Sharma.

Why Hardeep Singh Puri was elected unopposed

The Madhya Pradesh Rajya Sabha bypoll witnessed three candidates initially entering the contest. However, the nomination papers of the two other candidates did not clear scrutiny.

Kante Sayanna and Congress-backed candidate Rajkumar Lohani had their nominations rejected during the examination of election papers. With both candidates out of the contest, Puri remained the only candidate.

As a result, the returning officer declared him elected unopposed on the final day of withdrawal of nominations on November 5.

The bypoll, if required, had been scheduled to take place on November 12.

Why the Madhya Pradesh Rajya Sabha seat fell vacant

The by-election became necessary following the resignation of former Union minister L Murugan from the Rajya Sabha last month.

Murugan’s departure created a vacancy in the Upper House from Madhya Pradesh. His original term was scheduled to continue until April 2, 2030.

The BJP subsequently nominated Hardeep Singh Puri as its candidate for the by-election.

Puri, a former diplomat who later entered politics, currently serves as the Union Minister of Petroleum and Natural Gas.

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