Income Tax Return Last Date: The last date for filing income tax return has been fixed as 31 July 2023. If you fail to file ITR, you will have to pay penalty, as well as you may have to face income tax notice.
The last date for filing ITR for the financial year 2022-23 is very near. According to the Income Tax Department, a citizen whose annual income is more than 3 lakhs must file ITR. The last date for filing income tax return has been fixed as 31 July 2023. If you fail to file ITR, then you will have to pay penalty, as well as you may have to face income tax notice.
Penalty on delay in filing ITR
According to the Income Tax Department, if you do not do this work before July 31, the last date for filing ITR, then penalty or fine will have to be paid. As per the rules, the late ITR filing fee is Rs 1,000 for small taxpayers ie those earning up to Rs 3 lakh. On the other hand, those whose income exceeds Rs 5 lakh may have to pay a penalty of Rs 5,000. Let us tell you that till 2021, Rs 10,000 had to be paid as late penalty, but it has been reduced under the new rules.
Documents required to file ITR
- If you are salaried then you got form 16 from office
- Form 26AS
- If there is FD in the bank or dividend is received then its documents
- Documents of mutual funds, property, shares and gold
- If there is property abroad, then its documents
How to file ITR online
- Log on to the official website of Income Tax at incometax.gov.in.
- After that click on view return or form.
- View e-filed tax returns.
- After this, select Assessment Year, ITR Form Number, Filing Type Original/Revised Return on the page.
- After that click on continue and enter the requested information.
- Tax paid and verification page will open, on this you have to choose the option accordingly.
- After that preview and submit the form after checking it properly.
Note- In case of any problem in ITR filing, take help from the information available in the user manual given on the website of the Income Tax Department.
