If you have not been able to fill ITR till the last date, then there is good news for you, in this way you can still file the return.
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File ITR by this date
Explain that taxpayers who are unable to file ITR till 31 July will be able to submit their returns by 31 December 2023. However, on such filing, salaried employees whose net taxable income is more than Rs 5 lakh per annum will be charged a late fee of up to Rs 5000. Apart from this, people who have a taxable income of less than Rs 5 lakh can file ITR with a penalty of Rs 1000.
More than 6.50 crore ITR filed
According to the Income Tax Department, more than 6.50 crore income tax returns were filed till 6 pm on Monday for the assessment year 2023-24. The department claims that taxpayers did not face any difficulty in filing income tax returns online on the last day. On Monday, the last day, around 37 lakh people submitted income tax returns by 6 pm. According to the officials of the department, this time refund will also be started from the second week of August. As the income tax returns are being filed, it is also being assessed in the same proportion.
Refund will be available from this day
In such a situation, those who have already filed income tax returns will start getting refunds from the second week of August. It is expected that the work of giving refunds will be completed by the end of August. Significantly, last year till July 31, about 5.83 crore ITRs were filed. 24X7 services are available at the Income Tax Department’s helpdesk and website to help in filing ITR. The last date for submission of ITR for the financial year 2022-23 is today i.e. 31 July 2023.
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