look news india
Delayed ITR Deadline: Taxpayers who have missed the July 31 deadline for filing income tax returns. And the return has not been filed yet. The deadline for filing belated returns is approaching for them. If the deferred income tax return is not filed even by 31st December, Rs. You may have to pay a fine of up to Rs 10,000. Currently Rs. Late returns can be filed with a late fee of Rs 5000.
What is the reason for delay in filing ITR?
Those who have not filed income tax return by July 31 can file delayed ITR till December 31 with some penalty. In which Rs. On income less than Rs 5 lakh: Rs. Rs.1000 and above on income Rs. A fine of up to Rs 5000 is imposed. The assessment year deadline for financial year 2023-24 was July 31. Delayed ITR can be filed under Section 234F of the Income Tax Act.
If ITR is not filed by December…
Under Section 234F of the Income Tax Act, taxpayers who forget to file delayed ITR before the end of the assessment year will have to pay Rs. ITR has been filed with a penalty of Rs 10000. The assessment year ends on 31 March.
How to file delayed ITR
- First of all visit the official ITR e-filing portal https://www.incometax.gov.in/iec/foportal/help/all-topics/brochers/8941.
- Login using PAN card number.
- Relevant ITR form for FY 2023-24, select assessment year by selecting AY2024-25
- Fill the required details.
- Late fee on filing is Rs. 5000 will have to be paid.
- Submit and verify using Aadhaar OTP.
