New Delhi: The Income Tax Department has issued a warning for taxpayers who missed the July 31 deadline to file their income tax return (ITR) for the financial year 2022-23. In a post on social media platform X, the department said these taxpayers must do it by December 31, 2023, warning that it is the “last chance” to file the belated/revised ITR for the financial year. The Income Tax Department’s post also mentioned the difference between revised and belated ITRs.
“Kind Attention Taxpayers, 31st December, 2023 is your last chance to file a belated/revised ITR for AY 2023-2024. Hurry! File your ITR before the due date,” the post on X said.
The department also shared a link to its website where users can find all the information about filing ITRs.
With effect from the assessment year 2020-21, the income tax department rules have made it mandatory for every person to file a return.
The three main conditions for paying the income tax are:
The department has also said that those who fail to file the income tax return within the specified time limit, can file a belated return under Section 139(4) of the Income Tax Act. There is not separate form for belated ITR, an assessee will have to use the forms notified for a particular assessment year.
Another important step is to verify the filed ITR within 30 days. It is essential to initiate processing and any unverified ITR will be considered as not filed by the Income Tax Department.
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