Home Income tax Individual Income Tax Taxpayers can file Returns with late fees till 31st December

Taxpayers can file Returns with late fees till 31st December

0
Taxpayers can file Returns with late fees till 31st December

ITR Submitting: Taxpayers can file Returns with late charges until thirty first December

Such taxpayers, who haven’t but filed the earnings tax return for the monetary yr 2023-24, can file their earnings tax return with late charges until thirty first December. If the earnings of the taxpayer is as much as Rs.2.5 lakh then he is not going to need to pay late charges.

In accordance with earnings tax and GST professional Gaurav Gupta, taxpayers beneath the age of 60 must pay a Rs.1,000 late charge if their earnings is larger than Rs.2.5 lakh however lower than Rs.5 lakh.

If the taxpayer is over the age of sixty, he should pay a late charge of Rs.1,000 on earnings better than Rs.3 lakh however lower than Rs.5 lakh. If the taxpayer is over the age of eighty, he is not going to need to pay any late charges on earnings as much as Rs.5 lakh. If a taxpayer’s earnings exceeds Rs.5 lakh, he should pay a late charge of Rs.5,000.

Taxpayers who earn greater than the taxable restrict haven’t paid earnings tax. They are going to be charged curiosity and late charges as effectively . The extra late the earnings tax return is filed, the extra curiosity have to be paid. After that, the earnings tax return will probably be filed.

Taxpayers who’ve had TDS deducted but have been unable to file earnings tax returns. Such taxpayers can receive a refund by submitting earnings tax returns by December twenty third.

The taxpayer is not going to obtain an earnings tax refund if the earnings tax return for evaluation yr 2023-24 shouldn’t be filed by December 31, 2023. The taxpayer should evaluation his Kind 26AS and AIS earlier than submitting his earnings tax return. Solely then must you file your earnings tax return.

Be a part of bkkhemka’s WhatsApp Group or Telegram Channel for Newest Updates on Authorities Job, Sarkari Naukri, Non-public Jobs, Revenue Tax, GST, Firms Act, Judgements and CA, CS, ICWA, and MUCH MORE!”

LEAVE A REPLY

Please enter your comment!
Please enter your name here