Income Tax Department issues warning to Tax payers to file ITR by December 31

In recent news, the Income Tax Department has issued a strict warning to taxpayers to file their belated Income Tax Return by December 31. This is for the people who missed the earlier deadline to file their tax returns for the financial year 202-23. Notably, the last date to file ITR for FY23 was earlier on July 31, 2023.

The Income tax department took to their official handle on X (formerly Twitter) to inform about the revised last date to file ITR. The post clearly mentioned this as the “last chance” to file the ITR for FY23. The post read, “Kind Attention Taxpayers, 31^st December, 2023 is your last chance to file a belated/ revised ITR for AY 2023-2024. Hurry! Fire your ITR before the due day.”

Further, the department also provided a direct link to its website for users to find information regarding filing Income Tax returns. It is noteworthy mentioning that the IT Department has made it mandatory for everyone to file their ITR from FY2020-21.

Here are the three main conditions for people who will have to file their Income Tax Returns:

• If a person has deposited one crore rupees or more in one current account.
• If a person has an expenditure of over 2 lakh rupees for travelling to any foreign country.
• If a person has an electricity bill of over one lakh rupees.

Meanwhile, the IT department also pointed out that failing to file ITR within the deadline will lead to a case being files under Section 139(4) of the IT Act.

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.

Pl visit https://t.co/uv6KQUbXGv#FileNow pic.twitter.com/S6HRuxYGBg

— Income Tax India (@IncomeTaxIndia) December 28, 2023

Also Read: IIT Researchers Harness Plant Cells To Produce Anti-Cancer Drug