ITR filing last date today: What to do if you miss the July 31 deadline?
India TV NewsThe 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 Monday, including 3.39 lakh in the last hour. Any salaried individual who has missed the ITR deadline can file a belated return till December 31, with the addition of a late filing fee. Individuals whose income exceeds Rs 5 lakh per annum will have to pay Rs 5,000 as late filing fees, if they are filing ITR after the last date, under Section 234F of the Income Tax Act, 1961. In case individuals miss the deadline for a belated ITR on December, they can still file an updated return, or ITR-U, for the previous financial year, which can only be done at the end of the current assessment year, i.e., April 1, 2024, with additional interest rates.