ITR Filing 2023: Only eight days are left for ITR filing for the financial year 2022-23. If you have not deposited tax yet, file ITR immediately. Taxpayers have to file ITR by 31 July 2023
ITR Filing 2023: Only eight days are left for ITR filing for the financial year 2022-23. If you have not deposited tax yet, file ITR immediately. Taxpayers have to file ITR by 31 July 2023. If you do not do this and file late ITR, you will have to pay a fine of Rs 5,000. This deadline is for those who need to get audited under the Income Tax Act, 1961.
As of now, the government has no plans to extend the deadline for filing returns. If you do not file return by 31 July 2023. After this deadline, a fine of Rs 5,000 will have to be paid for filing late returns. Even if you file the return late, you can claim under 80C. Let us know when you cannot claim tax deduction.
Tax deduction will not be available in these cases
You show investment in PPF or ELSS under 80C but you claim HRA. If your company has not given the documents then you will not get tax exemption. However, refund can be claimed by submitting the documents at the time of filing ITR.
If you have opted for the new tax regime, you cannot claim exemptions on various types of investments. TDS can be claimed on the old tax regime. Under 80C, you can get tax exemption on children’s tuition fees, home loan principal etc.
