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If you are mandated to file an Income Tax Return and miss the deadline, you can still file your tax return as a belated ITR. While it is possible to file a belated ITR, it is important to be aware of the penalties and potential complications that can arise from not filing your Income Tax Return on time. However, filing a belated Income Tax Return has several consequences, including penalties and the loss of certain benefits.
This is a comprehensive overview of the different Income Tax Return forms and their applicability based on the type of income and taxpayer category. This breakdown should help you quickly identify which Income Tax Return form is applicable based on your specific income and situation. Here’s a summary to make it easier to understand:
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