look news india
Income Tax Return: Till July 30, 6.09 crore people have filed income tax returns in the country. Last year, till July 31, a total of 6.90 crore people had filed income tax returns. The last date for filing returns is July 31. It is estimated that this time the number of people returning may be less than last year. There are more than 12 crore registered income tax payers in the department. In view of this, it is estimated that this time around 9 crore people have to file returns.
The Income Tax Department had shared information about filing returns on its official Twitter handle on July 26. According to the department, till July 26, 2024, more than 5 crore taxpayers across the country filed their income tax returns and now till July 30, 6.09 crore people have filed income tax returns.
How much penalty taxpayers will have to pay for filing income tax returns after July 31 will depend on your income. Taxpayers whose annual income is less than Rs 5 lakh will have to pay a penalty of Rs 1000 for filing returns late. Those whose annual income is more than Rs 5 lakh will have to pay a penalty of Rs 5000 as tax.
The All India Tax Practitioners Federation (AIFTP) has requested the Central Board of Direct Taxes (CBDT) to extend the deadline for filing income tax returns for the financial year 2023-24. They have requested the CBDT to extend this deadline from July 31 to August 31. The union said that due to situations like floods and landslides in many areas of the country, ITR has not been issued to the taxpayers. There is a problem in filing and dismissal.
AIFTP National President Narayan Jain and Direct Tax Representative Committee President SM Surana said in a written application to the federation that ITR filers are facing difficulties due to bad weather in states like Uttarakhand and Himachal Pradesh.