ITR Filing Deadline Ends Today: From Refund Status to Late Fees, All You Need to Know About Income Tax Return Filing

ITR Filing 2023: Taxpayers will have to pay a late fee of Rs 5,000 if their total income is exceeding Rs 5 lakh per annum and for those who earn below Rs 5 lakh, the late fee will be Rs 1,000.

New Delhi: The deadline to file income tax returns ends on Monday. And the option to file your ITR online is available on the Income Tax Department’s e-filing portal. The Income Tax Department said it has received a record number of ITR returns this financial year. Till July 30, more than 6 crore ITRs have been filed for FY 2022-23 (AY 2023-24). Moreover, refunds have also been given to a large number of taxpayers.

However, if you have not filed an income tax return yet, file it today to avoid late fees and other penalties. The Income Tax Department in a tweet has urged all taxpayers to file their Income Tax Returns (ITRs) for the assessment year 2023-24 by the official last date.

Those who are filing their ITR today must check the late fees and how to e-verify their returns.

ITR Filing: Check Penalty For Missing Deadline

As several taxpayers are rushing to file their Income Tax Returns (ITRs), many may miss the deadline due to heavy rainfall and floods in several states. Therefore, it is crucial for taxpayers to know the penalties.

According to the latest details from the Income Tax department, the taxpayers who miss filing their Income Tax Returns (ITRs) by the last date, 31 July, can still fill out the forms by paying a late fee and extra interest.

However, the taxpayers will have to pay a late fee of Rs 5,000 if their total income is exceeding Rs 5 lakh per annum. For those who earn below Rs 5 lakh, the late fee is Rs 1000.

Apart from the late fee, taxpayers will have to pay penal interest on any tax amount due. Taxpayers will have to pay a simple interest at the rate of 1 per cent for each month or part of a month from the day after the due date.

How to Check Income Tax Refund Status Online

• First, you need to visit the official e-Filing portal.
• After this, you need to log in with your User ID/PAN/Aadhar.
• Then, you will have to enter the ‘Captcha code’ displayed on the screen.
• After this, you will have to navigate to the ‘My Account’ section.
• Lastly, you need to click on the ‘Refund/Demand Status’ option

How to file ITR: Check Step-By-Step Guide

• First visit the E-filing portal: https://www.incometax.gov.in/iec/foportal/
• Then, you need to log in to your e-filing account using your PAN and password.
• After this, you will have to select assessment year for which you want to file your return.
• Then, you will have to select the ITR form that you need to fill.
• After filing details in the ITR form, you can either fill the form manually or use the pre-filled data that is available on the website.
• After you have filled in the details, you need to verify the return.
• You can verify the return using your Aadhaar number, e-Sign, or by sending a physical copy of the return to the CPC.
• Once you have verified the return, you can submit it.

Last Minute Guidelines To File ITR 2023

• You have to ensure that you have all the required documents before you start filling the form.
• You also need to read the instructions carefully before you start filling the form.
• In case you are not sure how to fill a particular field, you can always leave it blank and come back to it later.
• You can save the ITR form as a draft and come back to it later if you need to.
• After you have submitted the return, you will receive an acknowledgement number. Keep this number safe as you will need it to track the status of your return.

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