Missing a Tax Deduction?

File Your ITR Now for
FY 2023-24 (AY 2024-25)

Are You Ready to File Your Income Tax Return?

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Select Your Income Source(s)

Please Identify Your Sources of Income

  • Income from Salary
  • Income from House Property
  • Business/Profession
  • Capital Gains
  • Notice Response
  • Cryptocurrency Earnings
  • Futures & Options Trading
  • NRI Tax Return

Important Dates

  • Filing Deadline: 31-07-2024
  • NRI Return: By 31-07-2024
  • Belated Return: 31-12-2024
  • Tax Audit Return: By 30-09-2024
  • Companies Return: By 30-09-2024
  • Revised Return: 31-03-2025
  • ITR-U For FY 2021-22 (AY 2022-23): 31-03-2025
  • ITR-U For FY 2022-23 (AY 2023-24): 31-03-2026
  • Rectification Return: As specified in the assessment order
  • Updated Return: Within 24 months from the end of the relevant assessment year

Important Information

  • After the deadline, returns must be filed under the new regime.
  • A ₹5,000 filing fee applies for belated returns submitted before the end of December 2024. This increases to ₹10,000 thereafter. However, if total income is below ₹5,00,000, the penalty is limited to ₹1,000.

Stay Vigilant Against Tax Refund Scams! Ensure you have sufficient documentation for any refund claims to avoid scrutiny under section 133(6) of the Income Tax Act.

Filing Income Tax Returns: Why It Matters

  • Legal Compliance: Avoid penalties by meeting legal obligations.
  • Claim Tax Refund: Essential for retrieving excess tax payments.
  • Loan Approval: Facilitates faster processing of various loans.
  • Visa Processing: Often required by embassies for assessing financial health.
  • Carry Forward Losses: Enables setting off future income to reduce tax liability.
  • High-Value Transactions: Necessary for large-scale financial activities.
  • Government Tender: Proves financial reliability and compliance.
  • For Self-Employed: Acts as a critical proof of income and tax compliance.
  • Avoid Penalties: Prevents hefty fines associated with late filing.
  • Credit Card Processing: Can influence credit card applications.

Consequences of Not Filing on Time

  • Penalties: Fines up to ₹10,000 for late filing under Section 234F.
  • Interest on Due Taxes: Charged at 1% per month on unpaid taxes.
  • Unable to Carry Forward Losses: Loss of potential tax relief in future years.
  • Delayed Refunds: Slows down the process of getting tax refunds.
  • Loan and Credit Restrictions: Affects eligibility for financial services.
  • Visa Complications: May impede travel or migration plans.
  • Legal Risks: Potential for legal action from the Income Tax Department.
  • Government Tender Issues: May affect eligibility and success in tenders.
  • Credit Score Impact: Indirect effects on financial reputation.

File your tax returns by the due date to ensure peace of mind and maintain your financial health!

  • The due date to file the Income Tax Returns (ITR) for the Financial Year (FY) 2023-24 and Assessment Year (AY) 2024-25 for individuals not requiring audit is generally July 31, 2024. File your ITR for FY 2023-24 by July 31, 2024. Don’t miss the deadline!.