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How many ITRs have been filed in 2024?
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When is the last time to file ITR for FY 2023-24?
On 31 July 2024, 69.92 lakh ITRs were filed, exceeding last year’s count of 64.33 lakh on the same date. Notably, almost 72 percent of the taxpayers filed their ITRs under the New Tax Regime.
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... Report Deadline Ends On Sept 30 For FY 2023-24; Check Penalty And Steps to Submit On E-Filing ITR Portal
Income Tax Audit Report Deadline: The deadline for eligible taxpayers to submit income tax audit reports on the e-filing portal is September...
Latest India News
5 days ago
Claimed 87A tax rebate for STCG in your ITR? You may get tax demand notice
The eligibility criteria are that the taxpayer's income should be below a set threshold and not havi...
The Economic Times
4 days ago
- 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...
- Due date to submit a tax audit report. The last date to submit a tax audit report for a taxpayer is September 30th of the relevant assessment year. The individual should get the book of accounts audited and obtain the audit report by this deadline.
- Due date to file ITR-U. The deadline for submitting ITR-U as of any revisions or amendments to their previously filed returns are: Year. Due Date. FY 20-21 (AY 2021-22)
- Additional tax for filing ITR-U. If you file the updated Income Tax Return (ITR-U): If filed within. Additional Tax. 12 months from the end of the relevant assessment year (AY)
- Upcoming due dates for FY 2023-24 (AY 2024-25) Category of Taxpayer. Due Date. Individuals, HUFs, AOPs, BOIs (not subject to audit) 31st July 2024. Companies, other entities subject to tax audit, and partners in applicable firms.
Jun 20, 2024 · Learn the last date, penalties, and steps to file Income Tax Return (ITR) for the Financial Year 2023-24 and Assessment Year 2024-25. Find out how to file online, use software, or get assisted by CAs.
Aug 9, 2024 · Learn about the due date, belated filing, and consequences of missing the ITR filing deadline for FY 2023-24 (AY 2024-25). Find out how to file your ITR online, pay taxes, and avoid penalties and interest charges.
Jul 19, 2024 · Find out the due dates for filing income tax returns, TDS, advance tax payments and other related taxes for the financial year 2023-24. Learn about the penalties, exemptions and deductions for different taxpayer categories and assesses.
Jul 30, 2024 · Find out the latest news and updates on the ITR filing deadline for FY2023-24 or AY2024-25, which is July 31, 2024. Learn about the penalties, interest, and deductions for late or belated ITR, and the status of any possible extension announcement.
