The September 15 deadline for filing Income Tax Returns (ITRs) is nearing, with over 4.56 crore individuals having filed so far. Taxpayers are urged to file promptly to avoid inconvenience. The online filing process involves logging into incometax.gov.in, selecting the relevant ITR form (e.g., ITR-1 for salaried, ITR-2 for non-business income), reviewing pre-filled data, and submitting.
Filing after the due date incurs a late fee of Rs 5,000 (Rs 1,000 for income below Rs 5 lakh) and 1% monthly interest on unpaid taxes. ITR filings have seen substantial growth, with 7.28 crore filed for AY 2024–25 as of July 31, 2024.
Source – sarkaritel.com
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