The month of August is about to begin. In such a situation, before the end of July, you should get some important work done as soon as possible. If you don't do these things. In such a situation, you may have to face many problems. At the same time, many rules are going to change at the beginning of August. The rules that are going to change in August will have a direct impact on you. One of these is ITR filing. If you do not file your ITR before July 31, 2023. In this case, you may have to pay Rs 5,000 as a fine. You have only a few days left to file ITR. In such a situation, you should do this work as soon as possible. Let's know -
Given this, the Income Tax Department is constantly appealing to the taxpayers of the country to file income tax returns. Regarding this, he is also updating the taxpayers through messages and social media.
Appealing to file income tax returns, he is saying that the taxpayers of the country should not wait for the last date to file income tax returns.
If you file ITR after 31st July. In this case, you will have to pay the fine. However, you can file late ITR till December 31, 2023.
On the other hand, if we talk about the penalty for late ITR filing, then taxpayers with annual income up to Rs 5 lakh will have to pay a fine of Rs 1,000. Those whose annual income is more than 5 lakhs. He will have to pay a fine of five thousand rupees. Apart from this, if the taxpayer makes a tax payment after 31 December. In such a case, he may have to pay a fine of Rs 10,000.
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