FILING DEADLINE
The government is estimated to have earned up to Rs 627 crore from late ITR filing fee till August 22, 2024
Belated ITR fees: The government may have earned up to Rs 627 crore from collection of late ITR filing fees till August 22, 2024. As per rules a late filing fee of Rs 5,000 or Rs 1000 or nil is levied for filing a belated ITR after the due date. There were about 14 lakh ITRs filed between August 1, 2024 and August 22, 2024.
26% ITRs yet to be processed after 22 days of the deadline, will your ITR come under scrutiny?
ITR filing: As per data from the ITR portal 73.71% of all the verified ITRs have been processed already. This means about 26% ITRs are yet to be processed. Could it be because these 26% ITRs need additional scrutiny or others? Read the story to know more about ITR filing.
E-verification of ITR: Penalty, consequences for not verifying income tax return before 30-day deadline
ITR e-verification: Starting August 1, 2022, the Income Tax Department has shortened the deadline for e-verification or hard copy submission of ITR-V to 30 days, as per a notification issued on July 29. This implies that taxpayers must now verify their returns within 30 days from the filing date to finalize the process.
ITR filing deadline missed: A belated ITR for FY2023-24 (AY 2024-25) can only be filed under the new income tax regime
How to File Belated ITR: A big disadvantage of filing a belated income tax return (ITR) is that, starting August 1, i.e., after the July 31 deadline, individuals cannot opt for the old tax regime when filing their tax return for FY24. The new tax regime is the default under the current income tax laws.
Has the last date to file ITR been extended beyond July 31?
ITR deadline extended? Last year, the government did not extend the deadline for filing income tax returns, similar to the year before. However, two years ago, the government extended the deadline for filing income tax returns due to the COVID-19 pandemic.
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What is the last date to file ITR with penalty? How to file, charges
Filing ITR after deadline: If your income tax return (ITR) has not been filed, there's no reason to panic because you can still file your tax return after the deadline. Even if you face a penalty, you still have the choice to submit your tax returns after the due date – this is known as a belated return.
What is the penalty for filing ITR after the deadline of July 31, 2024?
Penalty for missing ITR filing deadline: The penalty for late filing of the Income Tax Return (ITR) applies to individuals who fail to meet the July 31, 2024 deadline. A belated ITR refers to an income tax return filed after the designated due date.
ITR filing deadline: 5 consequences of not filing your income tax return today
ITR filing deadline: Taxpayers who fail to meet the deadline for submitting a return have the option to submit a late return by December 31 of the applicable assessment year. Let's examine five outcomes of failing to file ITR before the deadline.
Last date to file ITR: Will government extend ITR filing deadline for these taxpayers?
Some taxpayers from certain states are hopeful for an extension due to the difficulties they have faced or are facing due to natural calamities like floods and landslides. Here is a look at a few of the times in the recent past when the ITR deadline was extended for specific states.
No penalty for missing ITR filing deadline of July 31, 2024 for these people
ITR filing: You don't have to pay the penalty of Rs 5000 or Rs 1000 for filing the ITR after deadline, if you are filing a tax return voluntarily or have income below the basic exemption or the ITR filing deadline for you is October 31, 2024. Read on to find more about belated ITR filing.
Last date to file ITR: #IncomeTaxReturn trends as users report e-filing portal glitches; will govt extend the deadline?
Last date to file ITR:It is crucial to remember that there may be consequences if you file your income tax return after the July 31 filing deadline. At present, many taxpayers are facing challenges with the functioning of the income tax portal, even on the final day of filing ITR.
ITR filing last date: Will there be any extension of the income tax return filing deadline?
ITR filing last date: The deadline to file your income tax return (ITR) for the financial year (FY) 2023-24 is July 31, 2024. The income tax department advises taxpayers to file their tax before the July 31, 2024 deadline. With just a couple of days left for this year’s ITR filing, tax filers are still facing issues with the e-filing portal. Here are the latest glitches being faced by taxpayers.
5 crore ITRs filed till July 26; but tax filers still faced with e-filing portal glitches, voice concerns on social media
ITR filing last date:The deadline to submit income tax returns for the financial year 2023-24 is approaching. The last date to file ITR is July 31, 2024. According to the Income Tax Department, more than 5 crore ITRs had been filed by July 26, 2024. This is an increase of over 8.5% compared to last year. However, many taxpayers are facing technical issues on the e-filing portal.
Paying income tax is not enough, you must file the ITR to avoid jail in certain cases
ITR filing: You must remember to file the ITR by July 31, 2024 and also pay any pending income tax amount (if any). "There are legal provisions in the Income Tax Act that can lead to imprisonment for not filing income tax returns (ITRs) or not paying income tax when liable," says Priyanka Jain, associate partner, Vaish and Associates.
Last Saturday before ITR filing deadline: Are banks open or closed on Saturday, July 27?
Saturday bank holiday: Do keep in mind that this is the last weekend before the income tax return filing due date of July 31, 2024 Bank customers must make sure that their bank related work is not hampered on these bank holiday days.
ITR filing deadline extension: Why hopes for an extension of the last date to file ITR are fading
Last date to file ITR: The tax department has been receiving requests from Chartered accountant associations to address these issues promptly. Despite multiple CAs and taxpayers requesting an extension beyond the July 31 deadline, the Income Tax Department has not responded.
Extend ITR deadline to August 31; 'Why the income tax return filing last date needs to be extended this year'
Income tax due date extension latest news: Here is an overview of the technical issues on the e-filing ITR portal that the All Gujarat Federation of Tax Consultants and Income Tax Bar Association have highlighted in their letter to the FM.
ITR deadline extended to August 31? Beware of fake news, warns Income Tax Department
Latest on ITR filing last date: The Income Tax Department stated that a clipping of the news is circulating on social media, claiming that the date for e-filing of ITR has been extended to August 31, 2024. The tax department has also warned tax filers about a scam doing the rounds with regard to income tax refunds.
Income tax guide for NRIs as ITR filing deadline looms
NRIs must adhere to specific tax regulations under the Income Tax Act, 1961, including residency criteria and income classification. Key aspects include special tax rates for long-term capital gains, advance tax obligations, and the impact of Double Taxation Avoidance Agreements.
Extension of ITR filing deadline? 11 glitches on e-filing portal; difficulty in logging in, e-verification, discrepancy in forms
ITR filing last date: The deadline for filing income tax returns (ITR) is fast approaching: July 31, 2024. The e-filing ITR portal is currently experiencing 11 glitches, including difficulties with logging in and e-verification and discrepancies in pre-filled data in ITR forms.
Will ITR filing deadline be extended beyond July 31, 2024? ICAI writes to tax department with 9 issues regarding Form 26AS, TIS, AIS, e-filing income tax return forms
Will the ITR filing deadline be extended? Various associations of chartered accountants have contacted the tax department to highlight the challenges faced by taxpayers and professionals when using the e-filing ITR portal.
ITR Filing: Be ready to pay penalty or file a revised ITR before the deadline if you missed reporting any income
Revised ITR: If you had filed an original income tax return (ITR) before the deadline but missed reporting certain incomes, then it is better to file a revised ITR and make the correction. Same holds true for selection of wrong ITR form while filing original ITR. Make the corrections and file a revised ITR.
Missing ITR filing deadline can cost you much more than just late filing fee
Cost of missing ITR filing deadline: Missing income tax return filing deadline of July 31 not only leads to payment of penalty of up to Rs 5,000. There are other benefits as well that an individual loses if the income tax return is filed after the expiry of deadline (i.e. belated ITR).
How to file ITR after July 31 deadline?
The deadline for submitting your income tax return (ITR) for the fiscal year 2023-24 is fast approaching on July 31, 2024. If you haven't filed your ITR yet and are worried about meeting the July 31 deadline, are there any other options available to you?
Ask Infosys team to work 1 hour to remove ITR portal glitches: CA mocks Narayana Murthy's '70-hour work' advice
Infosys faces renewed criticism for its faulty income tax filing portal, developed for the Income Tax Department. Chartered accountants nationwide struggle with glitches as the July 31 deadline nears. Since its 2021 launch, the portal has been plagued by technical issues, prompting public outcry. A Bengaluru CA humorously called out Infosys co-founder Narayana Murthy, suggesting the team work an extra hour weekly to improve functionality.
Navigating ITR Penalties: What you need to know for FY 2023-24?
As the financial year concludes, taxpayers must prepare to file their income tax returns (ITR) for FY 2023-24 by July 31, 2024, to avoid penalties. Late filing can incur a fixed penalty of Rs 5,000, with additional interest on outstanding taxes if applicable. Tax deducted at source (TDS) violations, such as non-deposit or incorrect deductions on property transactions, attract penalties up to 1.5% per month. Timely filing is crucial to claim deductions and avoid penalties up to 300% for tax evasion, ensuring compliance and maximizing tax benefits.
ITR filing deadline should be permanently extended beyond July 31: Salaried get only 45 days to file tax returns
ITR filing deadline extension: The due date to file income tax return by a salaried individual is July 31, 2024 for FY 2023-24 (AY 2024-25). However, in reality salaried taxpayers get only 45 days to file their income tax return. Here are some reasons and why there is a need for permanent ITR filing deadline extension.
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