New Delhi: than 6 crore tax returns have been filed for income earned in the 2022-23 fiscal year as of Sunday evening, the income tax department has said. Of the total returns filed, 26.76 lakh were filed on Sunday.
“We express our heartfelt gratitude to all taxpayers and tax professionals who have contributed to achieving this remarkable milestone. Their cooperation and promptness have been instrumental in this successful endeavour,” the tax department said in a tweet.
It urged people who are yet to file their income tax returns (ITRs) to complete the process at the earliest and avoid missing the 31 July deadline.
“For those who are yet to file their ITR for assessment year 2023-24, we urge you to file at the earliest to avoid the last-minute rush. As the deadline approaches, our team is committed to assisting you in every way possible,” the tax department said.
According to the income tax department, anyone whose total income from all sources is higher than the exemption limit must file their income tax returns. If the deadline is missed, taxpayers can file ‘belated return’ which is subject to a penalty.
Those who file their returns after the due date but before 31 December will have to pay a fine of ₹5,000. If filed after 31 December, the fine increases to ₹10,000.
Updated: 31 Jul 2023, 02:20 PM IST