Amidst the request of the taxpayers and the tax practitioners to file belated and revised income tax returns before the last date, i.e., 31st December 2022, the Central Board of Direct Taxes (CBDT) vide the twitter handle of the Income Tax Department has reminded the taxpayers to file without any delay, hinting no further due date extension.
“Delays end in dues! 31st December 2022 is your last chance to file a belated/revised ITR for AY 2022-2023. Hurry! File your ITR before the due date. Pl visit http://incometax.gov.in#FileNow,” the income tax department tweeted via its official portal.
“Delays end in dues, here’s your last chance,” the income tax department said.
The original deadline for filing the income tax returns for the assessment year 2022-23 was July 31, and the last date was not extended this year despite requests from various fields.
According to the official website of the income tax department, out of 10,74,16,060 taxpayers, 7,06,88,702 people filed their income tax returns.
The Income Tax Act, 1961 provides a few penal provisions to curb tax evasion and penalize the defaulters in case of non-filing of returns and non/short payment of income tax. A penalty of Rs 5,000 will be charged for the delay in filing returns if the total income to be reported exceeds Rs 5 lakh. For small taxpayers, if the total income of the person is less than Rs 5 lakh, then the fee payable is up to Rs 1,000.
After December 31st of the relevant assessment year, one cannot voluntarily file ITRs. After that, if and when the income-tax department picks up your income and tax details available for scrutiny, the department will direct the defaulter how to comply with the mandatory provisions by paying penalty and interest. Section 234 of the Income Tax Act, 1961 deals with penal interest that are levied in cases of delay in paying income tax on time.
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