The last date to file an Income Tax Return (ITR) is 31 July 2023. All salaried employees should note that this is the official last date so they must fill out the form soon. The government has not extended the deadline yet so people should fill out the ITR form carefully by 31 July, if they do not wish to pay the late fee. Any official announcements regarding the extension of the date or other details will be informed beforehand.
Earlier, the Income Tax Return (ITR) filing dates have been extended by the Government, however, the date for this year is 31 July till now. It is expected that this year there will be no extension in date. The Central Board of Direct Taxes (CBDT) released the new ITR forms for AY 2023-24, a month in advance for taxpayers.
The ones who will miss filing their Income Tax Return (ITR) form by 31 July, can file a belated return by 31 December 2023, as per the latest details. However, it is better to fill out the form by the deadline.
Income Tax Return (ITR) Filing: What Happens if You Miss the Deadline?
As per the latest details, taxpayers are able to fill out the ITR forms for the income made in FY 2023-24 from the last week of April. However, some salaried employers had to wait till June to fill out the form because the companies issued Form 16 during that time.
It is important to note that you can file your Income Tax Return (ITR) on 31 July or before that, to avoid paying a late fee. You can file your ITR on the official website - incometax.gov.in. Please make sure that you have your Form 16 before filling out the form.
Any individual who is earning above Rs 2.5 lakh per annum has to fill out the Income Tax Return form. However, individuals earning up to Rs 5 lakh do not have to pay any taxes.
To know more about the ITR filing and other details, you have to check the notifications on the official portal of the Income Tax Department. Keep a close eye on the site to know whether the last date to file ITRs is extended and stay informed.
(Written with inputs from Financial Express.)