Income tax e-filing:

Income Tax Department has been continuously requesting taxpayers to file returns to avoid late fees.

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Those who have not filed the return till July 31 yesterday, will now face a heavy penalty while filing the return.

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At present, the Income Tax Act of India allows all taxpayers to file ITR even after the expiry of the deadline.

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For individuals, there is a late fine on ITR filed after the deadline. This penalty will be taken under section 234F.

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If a taxpayer has filed ITR after July 31, then a late filing fee of Rs 5,000 will be levied.

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A penalty of Rs 1,000 will be levied on e-filing after the deadline from taxpayers with taxable income of less than Rs 5 lakh.

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A total of 67,97,067 returns were filed till 11 pm on July 31, the last day of filing income tax returns.

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A total of 5.78 crore taxpayers had filed their ITR till 11 pm on July 31. Its figure has not been announced yet.

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