Important ITR Filing Deadline: July 31, 2023 – Over 6 Crore Tax Returns Already Filed!

ITR-1-incometax

ITR Filing Deadline:For income received in the 2022–23 fiscal year, 6 crore tax returns have been filed, exceeding the number of ITRs filed up through July 31 of the previous year.

Salary earners and non-audit cases have until Monday, July 31 to submit their income tax returns (ITRs) for the fiscal year 2022–2023.

Taxpayers have been advised by the Income Tax Department to file their forms in advance to avoid the last-minute rush.

FY 2022–23

The I-T department announced that more than 6 crore returns had been filed for FY 2022–23 as of 1 pm on July 30, surpassing the amount filed for FY 2017–18 as of July 31.

1.3 Crore successful logins

There was an increase in filing activity, as seen by the I-T portal’s logging of nearly 1.3 Crore successful logins up till 1 pm on July 30.

Late filing cost

A person who misses the deadline may still file a later return, but they will not be allowed to carry forward losses or avoid legal letters. The late filing cost will range from 50% to 100% of the tax paid.

ITR Filing Deadline

The agency has been advising taxpayers to finish the ITR filing process well in advance of July 31 in order to minimize difficulties and guarantee that all tax information is submitted appropriately by the deadline.

OFFICIAL INCOME TAX WEBSITE IS https://www.incometax.gov.in/iec/foportal/

INCOME TAX DEADLINE
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