ITR Deadline Today: Possible Extension?: As of yet, the Income Tax Department has not declared a deadline extension. The IT department had earlier stated in a tweet on X (previously Twitter) that as of July 26, 2024, more than five crore ITRs had already been filed, representing a rise of 8.5% over the amount of ITRs filed during the same period the previous year. Despite this, a number of taxpayers have reported unsuccessful OTP verification attempts and multiple submission attempts when attempting to complete the ITR. Because of this, the Central Board of Direct Taxes (CBDT) has been recommended by the All-India Federation of Tax Practitioners (AIFTP) to move up the deadline for filing income tax returns for the assessment year 2024–25 from July 31 to August 31.
The Income Tax Bar Association and the All Gujarat Federation of Tax Consultants also asked for an extension of the deadline. “We urge all those who haven’t filed ITR for AY 2024–25 to file their ITR at the earliest to avoid a last-minute rush,” the tax department stated in a post on X.
What occurs if the ITR deadline is missed?
You have until December 31, 2024, to file a belated ITR if you miss the ITR deadline. The taxpayer will be subject to a penalty if they do not submit their taxes by the deadline. If your total yearly taxable income is less than ₹5,00,000, you will be required to pay a penalty of ₹1,000; if it is more than that, the penalty is ₹5,000. Furthermore, if you miss the deadline, you won’t be allowed to choose the previous tax regime when calculating your taxes.
How can I find out my ITR refund status?
If you have already submitted your income tax returns, you can use the methods below to check the status of your refund on the incometax.gov.in portal run by the Income Tax Department.
Use your ID and password to access the income tax e-filing system. 1.
2. Select the “e-File” option.
3. After choosing “Income Tax Returns,” click “View Filed Returns.”
4. You can view the status of your refund.
