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ITR Return: If ITR is not filed till July 31, then now you will have to pay a fine of up to Rs 5000

The Income Tax Department has received 5.83 crore Income Tax Returns (ITRs) for the financial year 2021-22 till July 31, 2022. July 31 was the last date for filing income tax returns. Officials gave this information on Monday.

New Delhi: The Income Tax Department has received 5.83 crore Income Tax Returns (ITRs) for the financial year 2021-22 till July 31, 2022. July 31 was the last date for filing income tax returns. Officials gave this information on Monday.

ITR of Rs 5.83 crore filed till July 31

According to officials, this figure of income tax returns is almost equal to the number of returns filed for the financial year 2020-21. The Income Tax Department had set July 31 as the last deadline for submission of ITR.

A senior department official said, “We have received about 5.83 crore income tax returns till the end of July 31. The final figures are being collated to find out the actual figure.”

He told that during the last financial year, about the same number i.e. 5.89 crore income tax returns were filed. Then the deadline for filing returns was extended till December 31, 2021.

More than 72 lakh people filed ITR on 31st July

According to the official, more than 72 lakh ITRs were filed on the last date i.e. Sunday. As per the new rules, those filing ITR by December 31 for the assessment year 2022-23 (with an annual income of more than Rs 5 lakh) will have to pay a late fee or penalty of Rs 5,000. At the same time, individuals with an annual income of less than Rs 5 lakh will have to pay a late fee of Rs 1,000.

 

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 @ praveshmaurya24@gmail.com
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