ITR filing deadline on July 31: Do it before last date

ITR filing deadline: All taxpayers are rushing to file their income tax returns (ITRs) for FY 2023 so that they do not land up paying fine by missing the last date. The deadline for filing ITR for the assessment year 2023-2024 is July 31, 2023.

So far, over four crore ITRs have been filed, as reported by the Income Tax Department. The tax department has urged taxpayers to file their returns early to avoid the last-minute rush. As of July 27, there has been no official proposal to extend the ITR filing deadline, and the revenue secretary, Sanjay Malhotra, recently stated that an extension is unlikely.

Tax experts also share the sentiment that an extension is improbable, given the absence of any announcement from the tax department. Chartered accountants are confident that a significant number of returns will be filed in the coming days, making a deadline extension unnecessary. The tax filing process has been smoother this year, with minimal glitches on the portal.

However, despite these factors, the possibility of a deadline extension cannot be completely ruled out. The devastating impact of monsoon rains and floods in Uttarakhand, Himachal Pradesh, Gujarat, and Delhi-NCR may have hindered some individual taxpayers and small business owners from filing their returns on time.

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