Govt urges taxpayers to file returns as July 31 deadline won’t be extended

The authorities has urged the taxpayers to file their earnings tax returns earlier than July 31, 2023 to keep away from the final minute rush, as there is no such thing as a chance of any extension of the deadline.

Finance Ministry sources have indicated that taxpayers ought to file their returns as quickly as attainable as in contrast to final yr, there is no such thing as a probability of the July 31 deadline getting extended.

Taxpayers have to file the returns for 2022-23 with the evaluation yr being 2023-24.

According to the Income Tax Department, greater than 2 crore returns had already been filed until July 11, in contrast to 2 crore returns filed until July 20 final yr.

“Our taxpayers have helped us attain the two crore milestone 9 days early this yr, in contrast to the corresponding interval within the previous yr, and we admire the trouble! We urge those that have not filed ITR for AY 2023-24, to file their ITR on the earliest to keep away from final minute rush,” the Income Tax Department had tweeted on July 11.

Last yr a complete of 5.8 crore returns have been filed and the federal government expects that this yr, the tally may be a lot greater.

If earnings tax returns are filed after the deadline of July 31, 2023, then a tremendous of Rs 5,000 can have to be paid by the taxpayer.

(With inputs from IANS)(*31*)