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megha jain
Megha Jain

Megha Jain

Megha Jain, Tax expert, ClearTax

Income Tax Returns: What are the penalties for late filing of returns? Understand tax extensions and their financial impact

by Megha Jain |Jun 5, 2024

The Income-tax Department has provided taxpayers who have missed the original tax filing deadline with an opportunity to file a belated return before the end of the calendar in which the return was to...

For the FY ended on 31 March 2024, the due date for individuals to file their ITRs falls on July 31, 2024.

ITR: What are the penalties for late filing of returns? Understand tax extensions and their financial impact

by Megha Jain |May 18, 2024

The Income-tax Department has provided taxpayers who have missed the original tax filing deadline with an opportunity to file a belated return before the end of the calendar in which the return was to...

For the FY ended on 31 March 2024, the due date for individuals to file their ITRs falls on July 31, 2024.

ITR: What are the penalties for late filing of returns? Understand tax extensions and their financial impact

by Megha Jain |May 15, 2024

As per reports, the total number of income tax returns filed during the Assessment Year (“AY”) 2022-23 reached 7.51 crores, which is a significant increase from 6.63 crores in AY 2021-22.