look news india
As the last date for filing IT returns is approaching, the number of IT returns filed daily has crossed 13 lakh and a total of 2.7 lakh returns have been filed by taxpayers so far, informed the Income Tax Department.
According to information posted on the e-filing website, a total of 2.7 crore returns have been filed till July 14, which is 13 per cent more than the number of returns filed in the same period last year. This year, the number of returns filed crossed one crore on June 23, while on July 7, this figure crossed two crore. Last year, the number of returns crossed one crore on June 26 and two crore on July 11. In the financial year 2023-24, a total of 6.91 crore returns were filed till July 31, 2023, and this figure increased to 8.62 crore by March, 2024. The last date for filing returns for individual taxpayers and non-audited companies is July 31. If the return is filed after this date, the taxpayer will have to pay interest at the rate of 1 per cent per month and interest for at least fifteen days. Apart from this, if the income is less than Rs. 5 lakh, then Rs. 1,000 and above Rs. A late fee of Rs 5,000 is also payable.