Belated ITR Filing For AY 2023 24 Deadline Ends On 31 December 2023 Income Tax Alerts Taxpayers To Complete This Work Today

Belated ITR Filing Deadline: 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.

Kind Attention Taxpayers!

Here's your last and final call to file your ITR for AY 2023-24 by 31st December, 2023.

Hurry!#FileNow,

For more information, please visit https://t.co/uv6KQUbXGv pic.twitter.com/DxMV5Xzu0e

— Income Tax India (@IncomeTaxIndia) December 29, 2023

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.

↗️Unique landmark for the Income-tax Department!

↗️Over 8 crore ITRs filed for the AY 2023-24 till date.

↗️This milestone has been reached for the first time.

↗️The total filing for AY 2022-23 was 7,51,60,817.

Income-tax Department expresses its gratitude to all the… pic.twitter.com/kufWymunuK

— Income Tax India (@IncomeTaxIndia) December 29, 2023

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 Individual option.
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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