Will the deadline for filing the ITR be extended?
The last date to file Income Tax return for the financial year 2023-24 is July 31, 2024, which will end soon. If you fail to file ITR within the stipulated time, you may have to pay a heavy penalty. However, there are many claims on social media regarding the extension of the ITR deadline by the Income Tax Department. Not only this, a circular is also being widely circulated. But the Income Tax Department has declared all the claims made regarding the extension of the last date of ITR as wrong.
The department has not officially issued such information, so all taxpayers must file ITR within the deadline. For salaried individuals and other taxpayers who do not require their accounts to be audited, the last date to file income tax return (ITR) for the financial year 2023-24 is July 31, 2024.
There is demand to extend the deadline.
Many taxpayers and chartered accountants (CAs) are appealing to the government to extend the last date of filing ITR for the financial year 2023-24. Their argument is that they are facing difficulties in filing returns through the income tax e-filing portal – Incometax.gov.in. The All India Federation of Tax Practitioners (AIFTP) has requested the Central Board of Direct Taxes (CBDT) to extend the deadline for filing income tax returns for the assessment year 2024-25 by one month till August 31. Apart from this, the Institute of Chartered Accountants of India (ICAI) has also appealed to the Income Tax Department to extend the last date for filing ITR.
Fake notice issued on social media
These days, a false notice is circulating on social media about the extension of the last deadline for filing the ITR, which states that according to the notice of this office (No. 11 of 2024) for the fiscal year 2023-24 through the Press Service Portal, the last date for electronic filing of the annual declaration is extended until August 31, 2024. However, in reality the department has not published such information.
How much will the fine be?
The last date to file ITR is July 31, 2024, if taxpayers fail to file the return within the due date then they will have to pay a penalty. As per the Income Tax Department rules, if someone’s income exceeds Rs 5 lakh, they will have to pay a penalty of up to Rs 5,000 for late filing of ITR.
