No extension for ITR filing. What happens if you file it after last day

ITR filing: The final day to file the income tax return (ITR) has arrived and taxpayers have been flooding the online filing portals. The Income Tax Department has released helpline numbers and portals to assist taxpayers with an easy ITR filing. Taxpayers are required to file an ITR form for the fiscal year FY22 as well as in the year of assessment 2022 to 23. In filing ITR as a taxpayer, they is able to report their earnings and the taxes they paid during each financial calendar year back to department. If there are refunds offered by the government or other sources, ITR can help taxpayers get the refund. ITR is required when your earnings are higher than the limit of the basic exemption. There is no extension of the time frame for filing ITR. If you have less than 24 hours to go it is crucial to submit your ITR by the deadline to be free of any penalty. income tax return for salaried person On Sunday The department of Income Tax department, via its Twitter account stated that 195.3,581 ITRs were filed until 1 pm today and 4,67,902 ITRs have been completed in the last hour. Presently, there are seven ITR forms that are available. However the forms differ based on the type of taxpayer and the source of their income. The forms are ITR-1 the ITR-2, ITR-3, the The ITR-4, the ITR-5, the itr-6 and ITR-7. ITR Form 1. (Sahaj) as well as ITR Form 4. (Sugam) are simpler forms that can be used by the majority of small and medium tax payers. Sahaj is a form that can be filled out by a person with a net income of up to Rs50 lakh and who earns income from a salary, one home property, or other sources (interest and so on.). Similar to Sugam, Sugam is filed by individuals, Hindu Undivided Families (HUFs) as well as companies (other other than Limited Liability Partnerships (LLPs)) that have a total income of up to Rs50 lakh , and earnings from professional and business determined according to the presumptive taxation laws. itr file for salaried person

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