income tax return
Now there are only 3 days left to file the Income Tax Return (ITR) as July 31 is the last date to file ITR. If you file your ITR after July 31, you will have to pay a penalty depending on your income. However, there are some people who can file ITR even after July 31 without paying any late fee. Let us know who can file ITR after the July 31 deadline.
These people will pay a fine if they are late.
If you file your ITR after July 31, how much late fee will you have to pay? Those whose annual salary is less than Rs 5 lakh will have to pay a late fee of Rs 1,000, while those whose income is more than Rs 5 lakh will have to pay a late fee of Rs 5,000.
They have more time
The deadline for filing ITR is different for business owners or individuals whose accounts are to be audited. These individuals can file ITR until October 31. The Income Tax Department gives them an additional three months to be audited by a recognized CA and then file their ITR.
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In this regard, an exemption has also been granted in filing the ITR for certain types of transactions. If a company needs to file a transfer pricing report on its international transactions, that company has additional time to file the ITR. These persons will be able to file their returns until November 30. Apart from international transactions, this relaxation has also been given in certain types of domestic transactions.
The Income Tax Department’s help desk is working 24×7 to assist taxpayers. This helps in providing services ranging from ITR filing to tax payment. The help desk provides assistance through calls, live chat, WebEx sessions, and social media.
