ITR फाइल करने की आखिरी तारीख 31 जुलाई: डेडलाइन के बाद ₹5 हजार तक का जुर्माना, अभी हर दिन 13 लाख रिटर्न फाइल हो रहे

The last date for filing ITR is 31 July 2024. According to the Income Tax Department, 13 lakh returns are being filed every day. As of July 14, about 2.7 crore ITRs have been filed, which is 13% more than the returns filed during the same period last year.

The milestone of one crore ITRs for the financial year 2023-24 was reached on June 23. At the same time, the milestone of 2 crores was crossed on July 7. Comparing it with last year, in the financial year 2022-23, one crore ITRs were filed till June 26 and 2 crore ITRs were filed till July 11.

A total of 6.91 crore returns were filed for the financial year 2022-23 till July 31, 2023. This number increased to 8.62 crores by March 31, 2024. At the same time, for the first time this year, the tax department allowed taxpayers to file returns on the first day of the new financial year.

Tax collection of Rs 5.74 lakh crore
Last week, the IT department said that direct tax collections in FY25 had registered a growth of 19.54% to Rs 5.74 lakh crore as of July 11. Direct tax collections in the same period in FY24 were Rs 4.80 lakh crore.

Refund of Rs 70,902 crore issued
According to the tax department, in the financial year 2024-2025, a refund of Rs 70,902 crore has been issued. In the financial year 2023-24, it was Rs 43,105 crore. That is, an increase of 64.49% has been registered in the refund.

Late fee of Rs 5,000 for filing ITR after the deadline
According to tax expert Chartered Accountant (CA) Anand Jain (Indore), filing ITR on time not only saves from penalty, but it also has 4 more benefits.

1. You will be saved from fines
If you do not file ITR within the due date, you may have to pay a penalty. If the annual income of an individual taxpayer is more than Rs 5 lakh, then he will have to pay a late fee of Rs 5,000. If the annual income of the taxpayer is less than Rs 5 lakh, then he will have to pay Rs 1,000 as a late fee. This penalty can be avoided by filing ITR on time.

2. There will be no fear of notice
Currently, the Income Tax Department receives information about your income from many sources. If you do not file ITR on time, the Income Tax Department can send you a notice based on that information. To avoid the hassles of notices, it is beneficial to submit ITR on time.

3. Interest savings
According to the income tax rules, if a taxpayer has not paid tax or has paid less than 90% of the total tax due on him, then he will have to pay 1% interest every month as penalty under section 234B. In this way, by filing returns on time, you can save interest on income tax.

4. You can carry forward the losses
According to the Income Tax rules, if you file ITR by the due date, you can carry forward your losses to the next financial years. That is, you can reduce your tax liability on your income in the next financial years.

For example, if there is a loss on sale of shares, then it can be carried forward for 8 years, however, if the return is not filed on time then the loss cannot be carried forward and this benefit will not be available.