Income Tax News: The Income Tax Department has once again reminded taxpayers to file their Income Tax Returns (ITR) before the due date to avoid penalties and late fees. With the last date for ITR filing fast approaching, individuals and businesses are being urged to complete the process without delay.
Taxpayers Beware! Last Date for ITR Filing Approaching, Don’t Miss the Deadline
Filing ITR on time is not just a legal obligation but also ensures that taxpayers can carry forward their losses, claim refunds, and maintain a clean financial record. Those who fail to file within the deadline may face interest on outstanding tax, late filing penalties, and restrictions on certain financial transactions.
With the growing use of technology, the Income Tax e-filing portal makes the process simpler
Experts advise taxpayers to keep all necessary documents ready, including Form 16, bank statements, investment proofs, and details of any additional income. With the growing use of technology, the Income Tax e-filing portal makes the process simpler, allowing individuals to file returns from the comfort of their homes.
The government has also introduced stricter rules to ensure compliance, with non-filers likely to be flagged by the system for further scrutiny. Timely filing also helps taxpayers avoid last-minute technical glitches, which are common when the portal faces a heavy rush close to the deadline.
Tax professionals recommend not waiting until the final day, as even a small delay could result in financial consequences. By filing returns early, taxpayers can also check for errors, correct mismatches, and ensure smooth processing of refunds.
With the deadline only days away, the Income Tax Department is urging everyone—salaried employees, self-employed individuals, and business owners—to act quickly. Filing ITR on time not only keeps you compliant but also gives peace of mind.
