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HC comes to taxpayers’ aid, postpones ITR filing deadline

MUMBAI: The Bombay high court on Friday directed the Central Board of Direct Taxes to extend the date for e-filing of belated income tax returns for taxpayers required to file by December 31, 2024. A bench of justice Devendra Upadhyaya and justice Amit Borkar, while listening to a Public Interest Litigation filed by the Chamber of Tax Consultants through its …

Taxpayers

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, …

If you missed the deadline to file your Income Tax Return for the financial year 2023-24 in July, you still have an opportunity to make amends. The Income Tax Department allows taxpayers to file a belated ITR by December 31, 2024. CONSEQUENCES OF LATE FILING Late filing fee As per Section 234F of the Income Tax Act, individuals filing their …

If you missed filing your income tax return before July 31 then you do not need to fret! For the financial year 2023-24, while the last date of filing income tax return for individual taxpayers was July 31, one can file it before Dec 31 after paying a fee. If you are filing a belated income tax return then you …

Taxpayers who failed to file their Income Tax Return for the financial year 2023-24 still have an opportunity to file their Income Tax Return. However, there is now a late fee of Rs 5,000 for filing as per Section 234F of the Income Tax Act. Late Fee on income below Rs 5 lakh: The late payment of Rs 1,000 will …

Do taxpayers lose out on deduction benefits on filing late income tax returns? We explain

The cutoff for submitting the Income Tax Return for the fiscal year 2022-23 was July 31, 2023. While numerous taxpayers are considering submitting a late return with a penalty, a significant number are apprehensive about the possibility of their tax refund request being declined in the event of a delayed ITR submission. Submitting a delayed ITR incurs a late fee, …

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 …