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ITR Filing Deadline Ends Tomorrow: Penalties Await Late Submitters
✍️ Hindustan Times
🗓 30 Jul 2026, 11:59 AM
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Taxpayers who miss the July 31 deadline can still file their returns, but will face penalties and interest.
The Income Tax Department has announced that the deadline for filing Income Tax Returns (ITR) for the financial year 2023-24 ends tomorrow, July 31. Taxpayers who miss this date are still allowed to submit their returns, but the Department will impose a penalty of up to 10% of the tax payable, along with interest at 1.5% per month on the outstanding amount.
The penalty applies to both individuals and businesses that fail to file on time, regardless of whether the tax due is paid. The interest is calculated from the date of the original deadline until the date of filing.
Taxpayers are advised to file their returns as soon as possible through the e‑filing portal to avoid the additional charges. The Department has also urged users to check their details for accuracy and to keep a copy of the filed return for future reference.
The Income Tax Department will continue to accept late filings until the end of the fiscal year, but the penalties will remain in force for all late submissions.
The penalty applies to both individuals and businesses that fail to file on time, regardless of whether the tax due is paid. The interest is calculated from the date of the original deadline until the date of filing.
Taxpayers are advised to file their returns as soon as possible through the e‑filing portal to avoid the additional charges. The Department has also urged users to check their details for accuracy and to keep a copy of the filed return for future reference.
The Income Tax Department will continue to accept late filings until the end of the fiscal year, but the penalties will remain in force for all late submissions.