Just a heads up that July 31, 2024 is the deadline to file your income tax return if you’re a salaried individual or another taxpayer who doesn’t need to audit their financial statements for the financial year 2023-24 or the assessment year 2024-25 . Make sure to file today to avoid any late fee or interest .
If you have already File your ITR for F.Y. 2023-24 so don’t forget to e- verify your ITR within 30 days. If you’re waiting for a refund, you can check the status on the income tax official website.
If you miss the deadline to file your ITR for the financial year 2023-24 , you’ll have to pay a late fee based on your income. It’s Rs. 1000 if your income is below Rs. 5 lakh and Rs. 5000 if it’s more than Rs. 5 lakh.
If you owe taxes and don’t turn in your tax return on time, you’ll have to pay extra money in interest. The interest rate is 1% for each month or part of a month that your taxes are late. So make sure to file your taxes on time to avoid paying more than you owe!
This is your last chance to file your ITR if you haven’t done so already. If you file after today, you’ll have to pay late fees and interest according to the income tax guidelines. So make sure to get it done Today!
Source Link :
https://www.business-standard.com/finance/personal-finance/income-tax-return-deadline-ends-today-consequences-for-late-filers-decoded-124073100249_1.html
