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"If you do so before the income tax return filing last date, you can file a late return on or before December 31 of the assessment year. The CBDT has extended the deadline for everybody filing a belated/revised return from December 31, 2021, to March 31, 2022, for the fiscal year 2020-21. The maximum penalty levied on taxpayers for missing the ITR filing deadline has been reduced from Rs 10,000 to Rs 5000 with effect from FY 2020-21."
<https://www.tomorrowmakers.com/tax-planning/important-tax-filing-dates-fy2020-21-article>