Deadline for ITR filing extended but doesn't provide relief from interest penalties
3 years, 4 months ago

Deadline for ITR filing extended but doesn't provide relief from interest penalties

India Today  

The pandemic led the Government of India to provide relief by extending the ITR filing for the financial year 2020-21 till September 30, 2021. Here are the details of the penal interest to be paid on the extension of the ITR filing date: The interest rate will be charged by 1% every month on the outstanding tax amount as per section 234A. There is relief under section 234A that if the tax liability is above 1 lakh, interest will be paid on the delay in filing the income tax. If a person has not paid advance tax or has paid 90 percent of the tax liability, he/she also has to pay an interest rate of 1 %under section 234B. The taxpayers need to pay an interest of 15 percent,45 percent,75 percent, and 100 percent advance tax by the 15th of June, September, December, and March.

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History of this topic

ITR filing: Last 1 week to go before these income tax deadlines expire on Dec 31
Trending News
18 hours, 39 minutes ago

ITR filing: Last 1 week to go before these income tax deadlines expire on Dec 31

Live Mint  

With the Calendar Year set to culminate in a few days, there are a few income tax deadlines that are set to expire at the same time. These deadlines relate to the filing of belated income tax return, Vivad Se Vishwas and declaration of foreign assets. Filing of belated return: Typically, the last date to file income tax return is …

Missed ITR deadline? Here's your guide to filing belated return for AY 2024-25
4 days, 17 hours ago

Missed ITR deadline? Here's your guide to filing belated return for AY 2024-25

India Today  

If you missed the original deadline to file your income tax return for FY 2023-24, don’t worry—you still have a chance. A belated ITR, filed under Section 139 of the Income Tax Act, is for taxpayers who missed the original filing deadlines. Regardless of the original deadlines, all taxpayers who missed them must file a belated ITR by December 31, …

ITR Advance Tax Deadline Today: Know how to pay tax before due date to avoid penalty
1 week, 2 days ago

ITR Advance Tax Deadline Today: Know how to pay tax before due date to avoid penalty

India TV News  

The advance tax deadline is nearing and taxpayers with an income tax liability exceeding Rs 10,000 must pay advance tax by December 15. According to Section 208 of the Income Tax Act, 1961, taxpayers with an estimated tax liability of over ₹10,000 in a year, are required to pay tax in installments in the form of advance tax. As per …

ITR advance tax deadline on December 15: What is it? How to pay tax before due date? Here’s all you need to know
1 week, 2 days ago

ITR advance tax deadline on December 15: What is it? How to pay tax before due date? Here’s all you need to know

Live Mint  

ITR Advance Tax: The deadline for the third instalment of advance tax is December 15, 2024. However, senior citizens, i.e., taxpayers above the age of 60 years during the current financial year, who do not have any income from a job or a business, are not required to pay advance tax. Instalment dates for advance tax First instalment: Advance tax …

ITR filing: Deadline to file tax returns for corporates, some taxpayers is November 15; Check penalty and other details
1 month, 1 week ago

ITR filing: Deadline to file tax returns for corporates, some taxpayers is November 15; Check penalty and other details

Live Mint  

The deadline to file income tax returns by corporates and individuals requiring audit for the financial year 2024-25 is November 15, 2024. Types of taxpayers to file returns by Nov 15: As per an Economic Times report citing Prakash Hegde, a chartered accountant, there are three types of taxpayers who have to file ITR by November 15, for the financial …

Extend ITR Filing Deadline To Aug 31; Tax Practitioners Urge Amid Portal Issue, Flood and Landslide
4 months, 3 weeks ago

Extend ITR Filing Deadline To Aug 31; Tax Practitioners Urge Amid Portal Issue, Flood and Landslide

News 18  

ITR Filing Last Date 2024: The All-India Federation of Tax Practitioners has requested the Central Board of Direct Taxes to extend the deadline of filing Income Tax returns by a month to August 31 for the assessment year 2024-25. In a memorandum, AIFTP national president Narayan Jain and Direct Tax Representation Committee chairman S M Surana said floods in several …

ITR E-filing portal glitches: Will Income Tax return deadline be extended beyond July 31?
5 months, 1 week ago

ITR E-filing portal glitches: Will Income Tax return deadline be extended beyond July 31?

Hindustan Times  

The deadline for filing income tax returns in 2024 is set on July 31. The Income Tax Department's website noted, “Over 2.7 crore ITRs have been filed as on 14 July 2024, which is 13% more compared to returns filed during the same period last year. While the milestone of filing of 1 crore of ITRs for AY 2024-25 arrived …

What Will Happen If You Do Not File Your ITR Before The Deadline
8 months, 2 weeks ago

What Will Happen If You Do Not File Your ITR Before The Deadline

News 18  

March has ended, and with the income tax filing season in full swing, individuals are busy ensuring they meet their tax obligations. Missing this deadline can impact your ability to choose between the old and new tax regimes. Filing before this deadline allows taxpayers to select between the old and new tax regimes. In contrast, the old tax regime offers …

Advance tax liability: You need to pay advance income tax by this date to avoid penalties
9 months, 1 week ago

Advance tax liability: You need to pay advance income tax by this date to avoid penalties

Hindustan Times  

Advance Income Tax: Annual income and annual tax liability result in the decision on whether you need to pay advance tax or not. In case a taxpayer's annual tax liability for the financial year after subtracting tax deducted at source is more than ₹10,000, they need to pay advance tax so that they can avoid penal interest. Advance Income Tax: …

ITR deadline over, now what? File with late penalty or face these consequences
1 year, 4 months ago

ITR deadline over, now what? File with late penalty or face these consequences

Hindustan Times  

The government did not extend the deadline to file income tax return for the financial year 2022-23 as the deadline passed on July 31. Income Tax return deadline passed on July 31 Data from Income Tax Department showed that more than 6.77 crore ITRs for the assessment year 2023-24 were filed till July 31. Anyone whose total income from all …

ITR filing last date today: Here's what happens if you miss the deadline
1 year, 4 months ago

ITR filing last date today: Here's what happens if you miss the deadline

Firstpost  

As most tax experts and chartered accountants suggest that the government has no plan to extend the deadline this year, the 31 July date becomes even more important for those who are yet to file their returns to avoid penalties As the deadline to file your income tax returns draws to a close today, it is crucial not to overlook …

ITR filing last date today: What to do if you miss the July 31 deadline?
1 year, 4 months ago

ITR filing last date today: What to do if you miss the July 31 deadline?

India TV News  

The deadline for filing income tax returns for the financial year 2022-23 for salaried individuals and those who do not have to get their accounts audited ends today According to the Income Tax Department on Sunday, over 6 crore tax returns have been filed for the previous year, and over 11 lakh returns have been filed upto 12 pm on …

Income Tax Return: Beware of missing ITR deadline, check penalties and late fees here
1 year, 4 months ago

Income Tax Return: Beware of missing ITR deadline, check penalties and late fees here

Live Mint  

Many taxpayers are finding themselves in turmoil as the due date for filing income tax returns is inching closer with each passing day. Failure to meet the ITR filing deadline could lead to the following penalties for taxpayers: Interest : A late filing fee of 0.5 per cent of the tax due will be imposed for each month that the …

From PAN-Aadhaar link to EV interest benefit, 5 tax rules to end on March 31
1 year, 8 months ago

From PAN-Aadhaar link to EV interest benefit, 5 tax rules to end on March 31

Live Mint  

March is not just a busy month for closing the financial accounts, but also a very important period for taxpayers. As per Abhishek Soni, Co-founder & CEO of Tax2win, a Fisdom company, taxpayers should take note that there are several tax rules that have a deadline of March 31, 2023. Under section 80 EEB of the Income Tax, individuals can …

What is belated ITR filing?
2 years, 4 months ago

What is belated ITR filing?

Business Standard  

The income tax return filing deadline, 31 July, has passed and over 58.3 million returns were filed for the Assessment Year 2022-23. If you are one of those who didn't file an income tax return before the deadline, you can still file it on or before three months prior to the end of the relevant assessment year. Filing belated returns …

Income Tax Return Filing AY 2022-23: Missed ITR Filing Deadline? Know What You Can Do
2 years, 4 months ago

Income Tax Return Filing AY 2022-23: Missed ITR Filing Deadline? Know What You Can Do

News 18  

ITR Filing AY 2022-23: The due date to file income tax return has already passed on July 31, Sunday. according to the government rule under the Finance Act, taxpayers can file income tax returns after the due date. Those who have already filed their income tax returns are also eligible to file a revised return if there was a gap …

ITR filing deadline missed? What you can do now
2 years, 4 months ago

ITR filing deadline missed? What you can do now

India TV News  

Highlights The last date for filing the ITR was July 31, 2022 There is an option to file belated ITR for those who missed the deadline However, one has to pay a fine depending on their pay scale to file belated ITR ITR deadline: Income Tax Return filing's last date was July 31, 2022 for the year 2021-2022. So, if …

ITR filing Assessment Year 2022-23 last date today: Nearly 34 lakh returns filed till 4 pm
2 years, 4 months ago

ITR filing Assessment Year 2022-23 last date today: Nearly 34 lakh returns filed till 4 pm

Firstpost  

According to tax laws, a Rs 5,000 late fee would be payable by people having an annual income of over Rs 5 lakh, if they file their ITR by 31 December of the assessment year New Delhi: Nearly 34 lakh income tax returns were filed till 4 pm on the last day of filing ITR for 2021-22 fiscal by salaried …

ITR: Income tax return deadline tomorrow. File it immediately to avoid penalty
2 years, 4 months ago

ITR: Income tax return deadline tomorrow. File it immediately to avoid penalty

Hindustan Times  

The last date for filing income tax returns is July 31, i.e Sunday. The income tax department has made it clear that the deadline will not be extended, and has asked the tax payers to file their returns before the deadline to avoid any fine. On Friday, the income tax department took to Twitter to remind the tax payers about …

Income tax return filing: ‘Extend due date immediately’ chorus grows on Twitter
2 years, 4 months ago

Income tax return filing: ‘Extend due date immediately’ chorus grows on Twitter

Live Mint  

The countdown for the last date for filing Income Tax Return is just three days away, July 31. While the Centre seems adamant to not extend the ITR filing July 31 deadline this year, chorus grows on Twitter demanding the immediate extension of the same. What govt says on extending ITR deadline The government is not considering extending the last …

ITR Filing AY 2022-23: Rs 5,000 Penalty if you Miss Income Tax FY22 Deadline; Know Details
2 years, 4 months ago

ITR Filing AY 2022-23: Rs 5,000 Penalty if you Miss Income Tax FY22 Deadline; Know Details

News 18  

ITR Filing for AY22-23: Tax season is almost coming to an end with the deadline to file income tax returns ending this week on July 31, which is this Sunday. Over 3.4 crore ITRs filed till 26th July, 2022 & about 30 lakh ITRs filed on 26th July, 2022 itself.The due date to file ITR for AY 2022-23 is 31st …

Income tax return: Missing ITR filing last date may land you in jail
2 years, 4 months ago

Income tax return: Missing ITR filing last date may land you in jail

Live Mint  

ITR filing for AY 2022-23: The due date for income tax return filing for the financial year 2021-22 or for the assessment year 2022-23 is fast approaching as ITR filing due date is 31st July 2022. However, in case a taxpayer misses to file is ITR by given last date of 31st December 2022, then in that case the income …

ITR Filing Last Date for AY 2022-23 Nears: Will Govt Extend Deadline to File Income Tax Return?
2 years, 4 months ago

ITR Filing Last Date for AY 2022-23 Nears: Will Govt Extend Deadline to File Income Tax Return?

News 18  

ITR Filing for AY22-23: The Income Tax Department as well as the government have been repeatedly saying that the deadline to file income tax returns will not be extended beyond July 31, despite receiving requests from taxpayers and associations to do the same. #FileNow!Pl visit: https://t.co/GYvO3n9wMf #ITD pic.twitter.com/Kd5GVaeGb2— Income Tax India July 25, 2022 Not only the income tax department, …

Income tax return filing last date July 31: What govt says on extending deadline
2 years, 5 months ago

Income tax return filing last date July 31: What govt says on extending deadline

Live Mint  

The last date to file income tax return for FY 2021-22 is 31 July and still many taxpayers haven’t filed their returns, hoping that the government might extend the deadline for the same like the previous two years. Over the last two financial years, the government had extended the deadline for filing ITRs to ease compliance for taxpayers battling covid …

ITR Due Date AY22-23: Deadline Remains July 31; Govt Not Considering Extending It
2 years, 5 months ago

ITR Due Date AY22-23: Deadline Remains July 31; Govt Not Considering Extending It

News 18  

Revenue Secretary Tarun Bajaj on Friday said the government is not considering extending the July 31 deadline for filing the income tax return. So, for now, individuals who do not need to get their income accounts audited must file ITR for the assessment year 2022-23 by July 31. Over 2.3 crore income tax returns were filed till July 20 for …

ITR filing for AY 22-23: Know last date and penalty if you miss deadline
2 years, 5 months ago

ITR filing for AY 22-23: Know last date and penalty if you miss deadline

Live Mint  

ITR filing for AY 22-23: The due date for income tax return filing for the financial year 2021-22 or for the assessment year 2022-23 is fast approaching. They penalty will be charged in the form of late fee that a taxpayer will have to pay if they fail to file their ITR by given due date of 31st July 20222. …

Income Tax Rule Change Budget 2022: You can Update ITR Within 2 Years, What it Means
2 years, 10 months ago

Income Tax Rule Change Budget 2022: You can Update ITR Within 2 Years, What it Means

News 18  

Budget 2022 has tightened the income tax filing norms for regular taxpayers. They can update their income tax returns within two years from the end of relevant assessment year by paying an additional tax. New ITR Rule: What Changes after Budget 2022 According to the current income tax laws, an individual taxpayer gets time till December 31 of relevant financial …

Income Tax Return Filing: Did Not File ITR by Due Date? Keep this Deadline in Mind
2 years, 11 months ago

Income Tax Return Filing: Did Not File ITR by Due Date? Keep this Deadline in Mind

News 18  

ITR Filing Last Date: The Income Tax Department has not extended the due date to file income tax returns, or ITR, for taxpayers in the country. However, according to the government rule under the Finance Act, taxpayers can file income tax returns after the due date. Nearly 5.89 crore income tax returns for the 2020-21 fiscal have been filed on …

Assessee Not Liable To Pay Interest On Short Payment Of Advance Tax Due To Default Of Payer In Deducting TDS Before 2012-2013 FY : Supreme Court
3 years, 3 months ago

Assessee Not Liable To Pay Interest On Short Payment Of Advance Tax Due To Default Of Payer In Deducting TDS Before 2012-2013 FY : Supreme Court

Live Law  

The Supreme Court has held that the amount of income tax which is deductible or collectible at source can be reduced by the assessee while calculating advance tax before 2012-2013 Financial Year.Therefore, the assessee cannot be held liable for interest under Section 234B of Income Tax for short-fall of advance tax which arises due to reducing the income tax deductible …

Pay your tax liability soon, to reduce interest burden
3 years, 3 months ago

Pay your tax liability soon, to reduce interest burden

The Hindu  

Even though the due date for filing income tax returns has been extended to December 31, taxpayers should note that they have to pay 1% of interest every month if their remaining tax liability exceeds ₹1 lakh and has not been paid by July 31. As per the provision of section 234A of the Income Tax Act, after deducting our …

File your IT returns now to avoid interest penalty
3 years, 3 months ago

File your IT returns now to avoid interest penalty

Live Mint  

The income tax department, last week, extended the deadline for filing income tax returns to 31 December from 30 September. However, there is no relief on interest penalty for taxpayers who have an outstanding tax liability above ₹1 lakh and are late in filing their returns. On 9 September, a notification by the Central Board of Direct Taxes said “the …

ITR filing deadline extended till 31 Dec
3 years, 3 months ago

ITR filing deadline extended till 31 Dec

Live Mint  

The income-tax department on Thursday extended the date of filing income tax returns and report of audits to 31 December, from the previous deadline of 30 September. The date for filing belated ITR returns was also extended by a month from 31 December to 31 January 2022 and reports from accountants on international transactions or specified domestic transactions under Section …

Income-tax return (ITR) filing deadline for FY21 extended till 31 Dec. Details
3 years, 3 months ago

Income-tax return (ITR) filing deadline for FY21 extended till 31 Dec. Details

Live Mint  

The Central Board of Direct Taxation on Thursday extended the Income-Tax Return filing deadline FY 2020-21 for individuals till 31 December 2021, mostly for the difficulties faced by taxpayers in the wake of Covid-19 pandemic. “The due date of furnishing of Return of Income for the Assessment Year 2021-22, which was 31st July, 2021 under sub-section of section 139 of …

Govt extends ITR filing date by 2 months to September 30
3 years, 7 months ago

Govt extends ITR filing date by 2 months to September 30

Hindustan Times  

The government has extended the timelines for various income tax compliances due to the second wave. For individuals, the due date to file income tax returns for the financial year 2020-21 has been extended by two months to September 30. The CBDT said it is extending the deadline “due to the hardships faced by various stakeholders on account of the …

Govt extends FY21 ITR filing deadline for individuals till Sep 30
3 years, 7 months ago

Govt extends FY21 ITR filing deadline for individuals till Sep 30

India TV News  

In view of the Covid situation, the government on Thursday extended current financial year Income Tax Return filing deadline for individuals by two months till September 30, 2021. As per the income tax law, for individuals whose accounts are not required to be audited and who usually file their income tax return using ITR-1 or ITR-4 forms the deadline to …

Here is what happens if you miss filing ITR for FY19-20
3 years, 8 months ago

Here is what happens if you miss filing ITR for FY19-20

News 18  

If you are still thinking about filing your Income Tax Returns for the financial year 2019-20, then hurry, as the last date along with a late fine of Rs 10,000 will end on March 31. The late filing of tax return attracts a fee under Section 234F of the Income Tax Act and the penalty payable by assesses filing a …

ITR Filing: Last Month to file ITR, check details here
4 years ago

ITR Filing: Last Month to file ITR, check details here

India Today  

An income tax return is basically a document that is filed as per the provisions of the Income Tax Act, reporting one’s income, profits and losses, and other deductions as well as details about a tax refund or tax liability. The Income Tax Return filing deadline for the financial year 2019-20 earlier would have ended on November 30, 2020. ITR …

ITR Belated Filing: Penalty for late filing of income tax return
4 years ago

ITR Belated Filing: Penalty for late filing of income tax return

India Today  

The last date to file the ITR for FY2019-20 has been extended multiple times, and as of now, it’s on December 31, 2020. Penalty for late filing of income tax return: If you file your ITR after the deadline, then a late filing fee will be levied. Until assessment year 2017-18, there was no penalty for filing belated income tax …

Belated Returns: Last date for filing Belated Income Tax Return extended
4 years, 1 month ago

Belated Returns: Last date for filing Belated Income Tax Return extended

India Today  

The deadline to file belated/revised income tax returns for FY 2018-19 has been extended to November 30, 2020, from the earlier one of September 30, 2020. Until assessment year 2017-18, there was no penalty for filing belated income tax returns. Here is how to file an Income Tax Return after the due date: The process of filing a belated return …

ITR Filing: Important dates to know for filing Income Tax Returns
4 years, 1 month ago

ITR Filing: Important dates to know for filing Income Tax Returns

India Today  

The government has now extended the deadline for filing an income tax return by a month and the new deadline is December 31. The due date of furnishing Income Tax Returns for taxpayers whose accounts require to be audited has been extended to January 31, 2021. In view of constraints being faced by taxpayers due to COVID-19,CBDT further extends due …

Finance Ministry Notifies Extension of Deadline for 2019-20 ITR Filing
4 years, 1 month ago

Finance Ministry Notifies Extension of Deadline for 2019-20 ITR Filing

News 18  

The finance ministry has notified the extended due date for filing income tax returns for the 2019-20 fiscal. Nangia Andersen LLP Partner Sandeep Jhunjhunwala said although the government had announced the extension of ITR and audit report filing due dates last week, but there was an ambiguity if such extension is available for corporates to whom tax audit and transfer …

FinMin notifies extended deadline for 2019-20 ITR filing
4 years, 1 month ago

FinMin notifies extended deadline for 2019-20 ITR filing

The Hindu  

The finance ministry has notified the extended due date for filing income tax returns for the 2019-20 fiscal. Nangia Andersen LLP Partner Sandeep Jhunjhunwala said although the government had announced the extension of ITR and audit report filing due dates last week, but there was an ambiguity if such extension is available for corporates to whom tax audit and transfer …

ITR filing deadline for FY 2019-20 (AY 2020-21) extended. Check new dates
4 years, 1 month ago

ITR filing deadline for FY 2019-20 (AY 2020-21) extended. Check new dates

Live Mint  

In a major relief to taxpayers, the Central Board of Direct Taxes on Saturday extended the deadline for filing income-tax returns for FY 2019-20 by a month till 31 December, 2020. "The due date for furnishing of Income Tax Returns for the taxpayers has been extended to December 31, 2020," CBDT said in a statement. "The due date for furnishing …

Belated Returns: How to file ITR after due date
4 years, 3 months ago

Belated Returns: How to file ITR after due date

India Today  

The general due date for filing the Income Tax Return by Assess is 30th September 2020 but the finance ministry has extended till 30th November 2020. Here is how to file an Income Tax Return after the due date: The process of filing a belated return is the same as filing the return on or before the due date. If …

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