New Delhi:
The deadline for filing income tax returns without a penalty for the financial year 2023-24 and assessment year 2024-25 ended on July 31, 2024.
If you file your return after this date, you will incur a penalty.
Individuals with an annual income of up to Rs 5 lakh will face a fine of Rs 1,000, while those earning more than Rs 5 lakh will need to pay a penalty of Rs 5,000.
Additionally, it’s important to note that after submitting your income tax return, you must complete the e-verification process.
Without this verification, your ITR filing will not be considered complete.
The e-verification must be done within 31 days of filing the return; otherwise, the return will be rejected.
You can complete the e-verification using Aadhaar OTP, net banking, or by signing and sending the ITR-V form.
You can still claim an income tax refund even after the deadline
Even after the ITR filing deadline has passed, you can still claim an income tax refund until December 31.
Remember, you will need to pay a penalty and late fee. The late fee will be deducted from your refund, and you will receive the remaining amount.
Here’s how you can check your ITR refund status:
1. Visit the income tax e-filing portal at eportal.incometax.gov.in/iec/foservices/.
2. Log in using your user ID and password.
3. Select “Income Tax Return” and then click on “Filed Return.”
4. Enter the assessment year to view your refund status.
To check your refund status, you will need:
1. The ID and password for the e-filing website. PAN linked to Aadhaar.
2. The Acknowledgement Number received when filing the return.
