Income Tax Department sets July 31 deadline for tax return filings

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The Income Tax Department has set July 31 as the deadline for filing income tax returns, with little chance of an extension.
The department is sending alerts on social media urging taxpayers not to wait until the last minute, and around 4 crore returns had been filed as of last week.
Missing the deadline can attract a late fee of up to 5,000 rupees under Section 234F for those earning above 5 lakh rupees, or 1,000 rupees for lower incomes.
Delays can also mean 1% monthly interest on outstanding tax and slower processing of refunds, while hiding or falsifying information can lead to imprisonment of three months to two years in serious cases.

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Named India · Taxpayers · Income Tax Department · X

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