ITR Filing: What Happens If You Miss ITR Filing Deadline

Last date for filing income tax returns for FY 2022-23 is July 31, 2023.

Taxpayers will file their ITR for the Financial Year 2022-23 and the Assessment Year 2023-24 ended on March 31.

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More than 4 crore income tax returns (ITRs) for the 2022-23 financial year have been filed so far and about 7 per cent of these are new or first-time filers.

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As per the official website of the income tax department, if one fails to file an ITR within the deadline under Section 139(1), they can incur a late filing fee of Rs 5,000 as a penalty under Section 234F.

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But for individuals with an income of less than ₹5 lakh, the penalty will be ₹1,000

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Also, under Section 234, no late fee will be levied on if a person is not supposed to file an ITR as per Section 139

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The due date for income tax return (ITR) filing is 31st July 2023

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So far Government has not extended the deadline for ITR Filling for FY 2022-23 (AY 2023-24).

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