ITR Penaltie for Registered Nurses
Yes, there are penaltie for Registered Nurses (RNs) if they fail to file their Income Tax Return (ITR) on time.
The penalties for late filing of ITR in India are as follows:
1. A late filing penalty of 5% of the tax due or a minimum of Rs. 2,000, whichever is higher.
2. An interest of 1% per month on the outstanding tax liability, from the due date of filing the ITR till the date of payment.
3. Prosecution, which can lead to imprisonment for a term of 3 months to 2 years, along with a fine.
4. The penalties for late filing of ITR are the same for all taxpayers, regardless of their profession. However, RNs who fail to file their ITR on time may also face disciplinary action from their employer or professional association.
The due date for filing ITR for the financial year 2022-23 is July 31, 2023. RNs who are unable to file their ITR by the due date can do so later by paying a late filing penalty. However, it is important to file the ITR as early as possible to avoid the penalties and other consequences.
To visit: https://www.mca.gov.in/
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