DECEMBER 31 BELATED ITR DEADLINE

ITR filing: If you are a salaried individual then you need to know how to calculate taxable income for salary, professional, capital gains and other incomes. Once you have calculated the gross total income from various heads of income, you can claim...

Processing of ITR: The income tax return (ITR) filing deadline for for the financial year 2023-24 (assessment year 2023-24) is July 31, 2024. It's crucial to file the ITR by the specified deadline to avoid penalties and late fees. Additionally, it's...

Penalty for late filing ITR: Under the Income-tax Act, 1961, a penalty or a late filing fee is levied when a taxpayer misses the last date to file income tax return. The late filing fee must be paid or else final submission of income tax return form...

Money changes in July: With July fast approaching, it's essential to keep track of upcoming money deadlines and rule changes. Here is a look at five money-related changes and deadlines in July.

Due date of income tax return filing: Under the income tax laws, different taxpayers have different due date for filing ITR. It is important to file the tax return on or before the deadline to avoid certain penal consequences. This includes payment ...

ITR forms: The important part of ITR filing process is to identify the correct the income tax return form applicable to their incomes. Filing income tax return using wrong ITR form will make the filed ITR as defective ITR. Read on to know the correc...

ITR filing for salaried individuals: The last date to file income tax returns for salaried and other taxpayers (whose accounts are not required to be audited) is July 31 every year. However, it is advisable for salaried individuals to start the proc...

New ITR-V, acknowledgement form for income tax return: The income tax department has notified a new ITR-V and acknowledgement forms for FY 2023-24 (AY 2024-25). The notified new forms will be effective from April 1, 2024. Here is all taxpayers shoul...

Income tax updated return: March 31, 2024 is the last date to file an updated income tax return (ITR-U) for AY 2021-22 (FY 2020-21). Do note that ITR-U may be used to fix errors like under-reporting or misreporting of income, or any other errors in ...

Income tax refund: Individuals who have pending income tax refund due to the fact that their income tax return (ITR) was not processed by the income tax department would now get their income tax refund by April 30, 2024. However not all individuals ...

There were many deadlines which are scheduled on December 31, 2023 of which some have been extended. Here is a list of deadlines which are extended and which are scheduled on December 31, 2023.

If you have missed the income tax return (ITR) filing deadline of July 31, 2023, then you have time till December 31, 2023 to file a belated ITR. Also, if there is a mistake in the belated or original ITR, then also you can file revised ITR. The las...

These deadlines include signing a revised bank locker agreement, invest in special FDs with higher interest rates and more.

If an individual is having income from business or profession for FY 2022-23 (AY 2023-24) and want to opt for or opt out of the new tax regime/ old tax regime, they need to file Form 10-IE before the deadline for ITR filing i.e. July 31, 2023 or Oct...

Here is a look at 10 important money deadlines in the month of December.

Missed the ITR deadline of July 31, 2023 and have a net taxable income above Rs 5 lakh for FY 2022-23 (AY 2023-24)? Pay Rs 5,000 as penalty and file a belated ITR under section 139 (4) of the Income Tax Act, 1961. Read below how to pay up the penalt...

If an individual has missed the deadline of July 31, 2023 to file their income tax return (ITR) for FY 2022-23, then he/she may still file a belated ITR by paying a penal fee. However if an individual's income is below the basic exemption limit then...

The last date to file income tax return for AY 2023-24 (FY 2022-23) was July 31, 2023. Despite asking for extension, the government has not extended the deadline for ITR filing. This is the second time that the government has not extended the deadli...

Now that the deadline for income tax return (ITR) filing is over, you can only file a belated ITR by paying a penalty and interest on the income tax due amount. Nonetheless it is better to file a belated ITR than not filing any ITR, despite having a...