R ARIVANANTHAM
CHENNAI, JULY 16
Days after the ICAI and the IT Department conducting the countrywide ‘Tax Clinic’ to help file returns, and clarify the rules, the government has urged the taxpayers to file their income tax returns before July 31, 2023 to avoid the last minute rush, as there is no possibility of any extension of the deadline.
Do finish this important task and unwind this weekend.
The due date to file your #ITR for AY 2023-24 is 31st July, 2023.#FileNow and spend your weekend without any worry.
Pl visit https://t.co/GYvO3mStKf#ITD pic.twitter.com/ngLwU8Hzbi— Income Tax India (@IncomeTaxIndia) July 15, 2023
Finance Ministry sources have indicated that taxpayers should file their returns as soon as possible as unlike last year, there is no likelihood of the July 31 deadline getting extended. Taxpayers have to file the returns for 2022-23 with the assessment year being 2023-24.
- Taxpayers have to file the returns for 2022-23 with the assessment year being 2023-24
- If income tax returns are filed after the deadline of July 31, 2023, then a fine of Rs 5,000 will have to be paid by the taxpayer
According to the Income Tax Department, more than 2 crore returns had already been filed till July 11, compared to 2 crore returns filed till July 20 last year.
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“Our taxpayers have helped us reach the 2 crore milestone 9 days early this year, compared to the corresponding period in the preceding year, and we appreciate the effort! We urge those who haven’t filed ITR for AY 2023-24, to file their ITR at the earliest to avoid last minute rush,” the Income Tax Department had tweeted on July 11.
Last year a total of 5.8 crore returns were filed and the government expects that this year, the tally could be much higher. If income tax returns are filed after the deadline of July 31, 2023, then a fine of Rs 5,000 will have to be paid by the taxpayer.
