New Delhi: The last date to file your Income Tax Return is today, July 31. While people can still file ITRs after the deadline until December 31, it comes with a fine. It will also have some other financial consequences.
For taxpayers whose annual income is up to Rs 5 lakh, the late fee is Rs 1,000. If the annual income is more than Rs 5 lakh the late fine is Rs 5,000. However, if your gross total income does not exceed the basic exemption limit, you will not be liable to pay a penalty for the late filing.
The income tax department said over 5.10 crore ITRs for the assessment year 2022-23 were filed till Saturday.
According to a PTI report, the Central Board of Direct Taxes, CBDT, has issued an order stating that Aaykar Seva Kendras (ASKs) or Income Tax help centres across the country will remain open on Sunday and additional receipt counters will be opened, wherever required, to "facilitate filing of tax returns by the taxpayers”.
A "war room" of technical experts working on the portal and the social media team of the CBDT that is gathering individual and public responses to the filing are working together 24x7, a senior officer told PTI.
The number of returns that were processable among these was 2.80 crore and out of this 2.41 crore or 86 per cent were processed, PTI reported.
The e-filing of ITRs by various categories of taxpayers is done at the web portal – incometax.gov.in.
About 5.89 crore ITRs were filed during the last time or 2020-21 fiscal by the extended due date of December 31, 2021.