The government has imposed some penalties for the late Income Tax Return Filing as mentioned below-
According to section 234F of the income tax act, filing ITR after the due date passed would make the taxpayer pay a maximum of Rs.5000/-
Rs 1000/- will be penalized if the total income of the taxpayer does not exceed Rs. 5 lakhs.
If tax is filed after 31 December but on or before 31st March of the assessment year Rs. 10 thousand would be penalized.