BusinessITR filing FY 2023-24: What is the penalty for late filing of income tax return? Check penalties for misreporting tax & other mistakesBy Brown State Of Mind - July 15, 20240FacebookTwitterPinterestWhatsApp Income Tax Return(ITR) Filing FY 2023-24: There is a penalty of Rs 5,000 if you file your income tax return after the due date. The due date for filing income tax returns is July 31, 2024.