Belated ITR Filing Deadline: The Income Tax Department has issued an alert for taxpayers. If you have not filed ITR yet, then for your information, let us tell you that today is the last date to file ITR for the financial year 2022-23.
The deadline for filing income tax returns for the financial year 2022-23 and assessment year 2023-24 is ending today. In such a situation, the Income Tax Department has issued an alert for taxpayers asking them to file ITR with late fees by December 31, 2023. The department wrote about this on its official X handle that taxpayers should pay attention! You have the last chance to file ITR for assessment year 2023-24. Complete this work as soon as possible by 31st December.
Income Tax Department informed the taxpayers
The Income Tax Department has identified many taxpayers who have done a large number of financial transactions but have not filed their ITR. Such taxpayers have been identified and informed through SMS. If you have also received the message from the Income Tax Department, then file ITR with late fees today itself.
What will happen if ITR is not filed?
The Income Tax Department had fixed July 31 as the deadline for taxpayers to file ITR for assessment year 2023-24 without penalty. Those who had not filed the IT return by this date can complete this work by December 31 by paying a penalty of up to Rs 5,000. The thing to note is that on annual income of less than Rs 5 lakh, a penalty of Rs 1,000 will be imposed. On income of more than Rs 5 lakh, you can file ITR by paying late fee of Rs 5,000.
More than 8 crore taxpayers filed ITR-
The Income Tax Department has recently informed that more than 8 crore taxpayers have filed ITR for the assessment year 2023-24. The Income Tax Department said that this is the first time when a total of 7,51,60,817 taxpayers have filed returns. The department also thanked the taxpayers for this.
How to file return?
1. To file belated ITR, first visit the e-filing portal of the Income Tax Department.
2. Go here and select the option of Income Tax Return and select the financial year.
3. Go to New Filing option and select the option of Individual.
4. Next the individual will have to open ITR Form-1 and then click on Proceed to Validation.
5. Then you will have to pay the penalty as per your income and then ITR will be filed.
6. After filing ITR, you will have to verify it within 1 month.
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