If you have not been able to file your ITR by 31 July 2023, then you will get opportunities to complete this work. But you may have to face financial loss. Till July 31, more than 6 crore people have filed ITR.
The deadline for filing Income Tax Return (ITR) is over. The Income Tax Department had fixed the date of 31 July 2023 for filing ITR. The Income Tax Department said that till July 31, a total of more than 6.50 crore ITRs have been filed..
Of these, about 36.91 lakh ITRs were filed till 6 pm on 31 July. But those who have not yet been able to file their income tax return, what options do they have now? Can he still file income tax return?
If you are a taxpayer and have not been able to file your ITR by 31 July 2023, then you have the option of late filing ITR. The due date for filing belated ITR for the financial year 2022-23 (AY 2023-24) is December 31, 2023. But now you have to pay fine for filing ITR.
How much will be the fine
Individuals with annual income up to Rs 5 lakh will have to pay a late fine of Rs 1000 for late ITR filing. At the same time, individuals with total income of more than five lakh rupees can be fined up to Rs 5000 for late filing of ITR.
Amit Gupta, Managing Director of SAG Infotech said in a conversation with Business Today- ‘There is an immediate penalty of Rs 5000 on those who file ITR late. This is late fine, which depends on the period of delay.
