ITR Filing Last Date What Happens If You Miss Income Tax Return Deadline Today

ITR Filing Last Date: The deadline for filing income tax return will end today i.e. on 31 July 2023. This time the deadline for filing ITR has not been extended. In such a situation, if you are not able to file the return today, then many problems can come along with the fine. Apart from this, legal action may also have to be taken.

The Income Tax Department has informed that till July 30, more than 6 crore people have filed income tax returns. At the same time, more than 1.30 crore people have logged in on the e-filing portal. More than 27 lakh returns were filed on July 30 alone. Let us know what can happen if you have not filed ITR till 31st July.

Everyone has to fill ITR

The date for filing income tax return for the financial year 2022-23 and assessment year 2023-24 is 31 July. Under section 234, everyone has to file income tax return, but it is not mandatory for everyone, but if you do not file ITR under section 139, then no penalty will be charged from you.

Penalty will have to be paid for not filing ITR till 31st

According to the official website of the Income Tax Department, if you fail to file ITR within the time limit under Section 139(1) of the Income Tax Department, then pay a late fee of Rs 5,000 as a penalty under Section 234F. May fall. However, if your income is less than Rs 5 lakh, then you will have to pay a fine of Rs 1000 only.

Jail can be for so many years

According to the Income Tax Department’s website, non-payment of tax can attract penalty, interest or prosecution. Under this, there can also be jail from 3 months to 2 years. However, if the tax evaded is more than Rs 25,00,000, then the imprisonment can be from 6 months to 7 years.

Returns can be filed for the previous financial year as well.

The Income Tax website states that if an ITR is not filed on or before the due date specified under section 139(1), he may file a belated ITR. As per the rules, delayed ITR is filed under section 139(4). At the same time, returns can be filed even after the deadline of delayed ITR is over. This is called Update ITR, which can be filed till 31st December.