– Today is the deadline for filing income tax returns (ITR) for FY24 (AY25)
– Over 7 crore ITRs have been filed so far, with over 50 lakh filed on the last day
– Revenue Secretary Sanjay Malhotra announced that 70% of returns were under the new simplified tax regime
– Penalties for late filing can range from up to ₹1,000 for income below ₹5 lakh to up to ₹5,000 for higher incomes
– The I-T Department has not announced any extension of the deadline despite technical glitches on the portal
– Taxpayers are advised to file accurately to avoid delays in refunds and legal consequences
– It is recommended to use Edge, Chrome, or Firefox browsers for filing ITR
– The All-India Federation of Tax Practitioners (AIFTP) has requested an extension for filing income tax returns
– Taxpayers must ensure they have all necessary documents ready for filing their ITR.