How much fine you will have to pay if fails to file ITR by 31 July

ZeeBiz Desk Jul 16,2024

There are only a few days left to file your income tax return (ITR) as the last date to file the ITR is July 31.

If you file your ITR after this date, you will need to pay a penalty.

Taxpayers

[{"selector":"#anim-7ffbfebf-e41b-4951-be6b-91f6eb03cf97 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-2.2716426241111853%, 23.584905660377366%) scale(1.4716981132075473)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-54adb149-f133-4343-96fb-ffb42d4fbac4","keyframes":{"transform":["scale(1)","scale(1.5)","scale(0.95)","scale(1)"],"offset":[0,0.33,0.66,1]},"delay":0,"duration":1450,"easing":"ease-in-out","fill":"both","iterations":1}] [{"selector":"#anim-e1dde569-d44b-4b5c-aa1b-ec5ff3d4105a","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] Meanwhile, many taxpayers are finding difficulty in filing their ITR through e-portal.

File ITR in advance

[{"selector":"#anim-51733eb7-41a7-483b-8ec8-efda0bfa2789 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-2.2716426241111853%, 23.584905660377366%) scale(1.4716981132075473)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-377dd5a2-9dd5-4fc9-a0fd-e288ede3bcf4","keyframes":{"transform":["scale(1)","scale(1.5)","scale(0.95)","scale(1)"],"offset":[0,0.33,0.66,1]},"delay":0,"duration":1450,"easing":"ease-in-out","fill":"both","iterations":1}] [{"selector":"#anim-77be171e-bb87-4763-b25d-cd78e7379ac7","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] Therefore, it is better to complete your ITR process in advance to avoid last-minute hassle.

Here's how much fine you may need to pay

[{"selector":"#anim-5b0a8f67-b373-40c1-8391-ad39f713111a [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-1.9492238960989858%, 23.584905660377366%) scale(1.4716981132075473)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-85fa12f9-02f2-4e4f-9122-237ff5f57386","keyframes":{"transform":["scale(1)","scale(1.5)","scale(0.95)","scale(1)"],"offset":[0,0.33,0.66,1]},"delay":0,"duration":1450,"easing":"ease-in-out","fill":"both","iterations":1}] [{"selector":"#anim-75a5d47a-f2e9-4ebb-8ef6-1253c9366088","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] If your salary is under Rs five lakh per annum then you will have to pay Rs 1,000 as late fee charges.

What if your annual income is over Rs 5 lakh

[{"selector":"#anim-5669419c-ed6c-4b1b-bf3a-d1e0049d1bff [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-1.9492238960989858%, 23.584905660377366%) scale(1.4716981132075473)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-e4f93ff9-d38b-4815-a95f-129b258b22da","keyframes":{"transform":["scale(1)","scale(1.5)","scale(0.95)","scale(1)"],"offset":[0,0.33,0.66,1]},"delay":0,"duration":1450,"easing":"ease-in-out","fill":"both","iterations":1}] [{"selector":"#anim-53da3c4c-1155-40da-a9ef-1f438b2209da","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] However, if your annual income is over Rs five lakh, then you will have to pay Rs 5,000 as a fine.

24x7 help from I-T department

[{"selector":"#anim-94196dad-3b85-4085-96b8-fda32310155d [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-4.6716880849338756%, 23.584905660377366%) scale(1.4716981132075473)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-cc252284-4520-4020-8d65-40f8a85b4b40","keyframes":{"transform":["scale(1)","scale(1.5)","scale(0.95)","scale(1)"],"offset":[0,0.33,0.66,1]},"delay":0,"duration":1450,"easing":"ease-in-out","fill":"both","iterations":1}] [{"selector":"#anim-45392eee-f361-48d2-a293-95e845b1d636","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] The Income Tax Department's helpdesk is working 24x7 to assist the taxpayers.