More than 36 lakh people filed Income Tax Returns till 6 pm on the last day of the filing. According to the Income Tax Department, approximately 6.50 Income have filed income tax in the Assessment Year (AY). Taking to Twitter, the Income Tax Department thanked taxpayers and tax professionals for helping them reach giant number of 6.50 crore. The IT Department said that more than 1.8 crore successful logins were registered on Monday.
However, income tax filed on the last day of this year is half of what was filed on the same day, last year. Last year, on July 31, 2022, a total of 72.42 crore ITRs were filed. This highlights that the taxpayers of India didn’t wait for the last day to file their ITR.
This time the government has not extended a deadline like earlier times when they allowed seven to nine days’ extension after the deadline. If a person fails to file their ITR by July 31, 2023, they will have to pay penalty.
The penalty is divided into two slabs. If the income of a person is not more than 5,00,000 lakhs than they need to pay a penalty of rupees 1000. If the income of a person is more than five lakhs than they need to pay a penalty of rupees 5000.
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