10 ESSENTIAL FACTS ABOUT FILING YOUR INCOME TAX RETURN
Published By Moushumi Mahanta | 31 Jul, 2024
The deadline to file income tax returns (ITR) for FY 2023-24 is July 31, 2024, with no extension announced.
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A PIB Fact Check confirmed the deadline remains July 31, countering misinformation on social media.
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Taxpayers facing technical issues can contact the I-T helpdesk via toll-free numbers or email.
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The I-T department advises using Edge, Chrome, or Firefox browsers for better e-filing experience.
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Over 6.5 crore ITRs were filed by July 30, 2024, a 7.5% increase from the previous year.
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The total number of ITRs filed is expected to exceed 7.1 crore, surpassing last year's 6.77 crore.
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The I-T filing portal has experienced slowdowns due to high traffic, causing delays in document downloads.
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Last-minute filers may submit incomplete data due to limited time for review.
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Missing the July 31 deadline incurs a late filing fee of <span class='webrupee'>₹</span>5,000, or <span class='webrupee'>₹</span>1,000 if income is below <span class='webrupee'>₹</span>5 lakh.
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Late filers will be defaulted to the new tax regime, losing the ability to claim exemptions and deductions under the old tax regime.