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Income Tax Return: Deadline to file ITR released, heavy penalty will be given for not paying tax before this date.

Income Tax Return: Income tax return is filed by those people whose income is taxable. On the other hand, on the basis of income tax income, tax returns are filed under different income tax slabs.

While filing Income Tax, it is necessary to take care of some special things. For example, if the Income Tax Return is not filed at the right time, then you may have to suffer a lot of loss. Let us tell you that the Income Tax Department has issued the deadline. Which is 31 July 2023. According to the Income Tax Department, if you want Tax Benefit, then you must pay Income Tax Payment at the right time.

The last date for filing Income Tax Return for the financial year 2022-23 is 31 July 2023. These dates are for companies that are required to audit your accounts under the Income Tax Act. For example, it is very important for companies, LLPs and people with higher income to file ITR by 31st.

Taxpayers will have to pay this much fine

If a taxpayer is not able to file ITR by the date issued, then he will have to pay a penalty (Income Tax Penalty). Therefore, if there is a delay in filing ITR, then many problems will have to be faced. If ITR is not filed till 31st July then you will have to pay a fine of Rs 5000.

Will have to pay double the fine

Explain that if you do not file ITR after December 31, then you will have to pay double the penalty. That means a fine of Rs 10,000 will have to be paid. In this, the Income Tax Department will charge the interest amount under 234A, 234B and 234C. In this case, file ITR before July 31 without paying any penalty. Few days are left for this date.

Parvesh Maurya
Parvesh Maurya
Parvesh Maurya, has 5 years of experience in writing Finance Content, Entertainment news, Cricket and more. He has done BA in English. He loves to Play Sports and read books in free time. In case of any complain or feedback, please contact me @ informalnewz@gmail.com
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