Search results
People also ask
When is ITR filing due?
When is the last date to file ITR?
Why are people urging the government to extend the ITR filing deadline?
When is ITR filing 2024?
e-Filing of Income Tax Return or Forms and other value added services & Intimation, Rectification, Refund and other Income Tax Processing Related Queries
- Salaried Employees
Salaried Employees - Home | Income Tax Department
- Downloads
Common Offline Utility for filing Income-tax Returns ITR 1,...
- Help
Help - Home | Income Tax Department
- Business/Profession
Business/Profession - Home | Income Tax Department
- Salaried Employees
- When Is The Last Date to File Itr?
- Income Tax Returns
- Consequences of Missing The ITR Filing Deadline
- What If ITR Filing Is missed?
- What Are Financial Year (FY) and Assessment Year (Ay)?
- Important Due Dates For Paying Advance Tax Instalments For FY 2023-24
- TDS Payment Due Dates For FY 2023-24
- TCS Payment Due Dates For FY 2023-24
ITR filing last date for non audit tax payers for Financial Year 2023-24 (AY 2024-25) was July 31, 2024. However, if you miss filing within the due date, you can still file a belated returnbefore December 31, 2024.
The Income Tax Return (ITR) e-filing for FY 2023-24 (AY 2024 -25) has started from 1st April 2024 and the last date to file ITR for FY 2023-24 is discussed below.
Interest
If you submit your return after the deadline, you will be liable to pay interest at a rate of 1% per month or part month on the unpaid tax amount as per Section 234A.
Late fee
In case of late filing, Section 234Fimposes a late fee of Rs.5,000, which shall be reduced to Rs.1,000 if your total income is below Rs.5 lakh.
Loss Adjustment
In case you have incurred losses from sources like the stock market, mutual funds, properties, or any of your businesses, you have the option to carry them forward and offset them against your income in the subsequent year. This provision substantially reduces your tax liability in future years. However, you will not be allowed to carry forward these losses if you miss filing your ITR before the deadline.
Belated Return
If you miss the ITR filing due date, you can file a return after the due date, called a belated return. However, you will still have to pay the late fee and interest charges, and you will not be allowed to carry forward any losses for future adjustments. The last date for filing a belated return is 31st December of the assessment year (unless extended by the government). Therefore, for this year, you may submit the belated return by 31 December 2024 at the latest.
Updated Return
Still, if you miss the 31st December deadline due to unavoidable reasons still you can file the updated (ITR U) return subject to the conditions specified therein. Click here to know more.
The return you will file in the upcoming year is for the income you earned in FY 2023-24, i.e. for the income earned between 1 April 2023 and 31 March 2024. The assessment yearis the review year for FY 2023-2024, where you file your returns and declare your returns by declaring all the incomes, exemptions, deductions, losses etc., already made or i...
Whenever we talk about income tax, there are certain tax formalities that need to be followed within the specified due dates, such as filing income tax returns, paying advance taxon time, etc. The due dates for the payment of advance tax are:
Tax Deducted at Source (TDS)is the tax deducted from the money paid at the time of making specified payments such as salary, rent, commission, professional fees, interest etc. by the persons making such payments The due dates for depositing the tax deducted at source and filing of TDS return for the financial year 2023-24 for deductors is as shown ...
Tax Collected at Source(TCS)is the tax collected by the seller from the buyer on the sale of specified items and deposited by the seller to the Government. For other cases, sellers must deposit the TCS amount within 7 days after the end of the month in which the tax was collected. Tax collectors are required to submit a quarterly TCS return in Form...
ITR Filing Last Date Extension LIVE: Today, July 31, is the last date to file an income tax return (ITR) for the financial year 2023-24 for taxpayers who are not required to audit their...
- August 1, 2024
- July 31, 2024
Jul 30, 2024 · Taxpayers and tax professional bodies are requesting the government to extend the filing date beyond July 31, 2024, due to various reasons. The primary reason is the difficulty many taxpayers have faced in filing the income tax through the e-filing portal — incometax.gov.in.
Jul 30, 2024 · Over 5 crore ITRs filed by July 26. Tax department unlikely to extend deadline. The last date to file income tax returns (ITR) for the financial year 2023-24 (AY2024-25) is tomorrow (July 31) and taxpayers must complete the process to avoid a late filing penalty.
- Business
Dec 30, 2020 · The Government of India has extended the due date for furnishing of Income Tax Returns for the Assessment Year 2020-21 under various circumstances. The new dates are 10th January, 2021 for most taxpayers, 15th February, 2021 for some taxpayers and 31st March, 2021 for some proceedings.
Jan 11, 2022 · The due date of furnishing of Report from an Accountant by persons entering into international transaction or specified domestic transaction under section 92E of the Act for the Previous Year 2020-21, which was 31st October 2021, as extended to 30th November, 2021 and 31st January, 2022 by Circular No.9/2021 dated 20.05.2021 and Circular No.17/2...
