The Income Tax Department has not indicated any plans to extend the ITR filing deadline for 2024.
Reetu | Jul 29, 2024 |
ITR Deadline will not be Extended; Know Why
If you’re looking for an extension on the ITR filing deadline, you may be disappointed. The Income Tax Department has not indicated any plans to extend the ITR filing deadline for 2024 and even the finance ministry has not made a formal announcement, so the July 31 deadline is unlikely to be extended.
Despite widespread anticipation and an increase in ITR submissions in the days running up to the deadline, the Income Tax Department has not issued an official statement regarding an extension.
“Do remember to file your ITR if you haven’t filed yet. The due date to file ITR for AY 2024-25 is 31st July 2024,” the income tax department said in a post on its Twitter account.
CBDT Chairman Ravi Agrawal recently stated that the milestone of 4 crore ITR submissions was crossed on the night of July 22 this year, as opposed to July 25 last year.
Officials expect overall filings to exceed last year’s 6.77 crore by the end of July.
The ITR filing due date for the financial year 2022-23 (Assessment Year 2023-24) has also not been extended by the tax department. The current deadline for filing ITR for the financial year 2023-24 is July 31, 2024.
It is critical to file your ITR before the deadline to avoid late fees or penalties. If you have not yet submitted, it is best to do so as soon as possible.
But if you fail to submit your ITR by the deadline, you can still file your tax return with a late fee. This is known as filing a belated return.
The deadline to file a belated return for the financial year 2023-24 (assessment year 2024-25) is December 31, 2024.
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