If you fail to file ITR by 31st July 2024, you will have to pay certain fine as per the guidelines of Income Tax department.
Only a few days are left to file your income tax return (ITR) as the last date to file the ITR is July 31. If you fail to file ITR by 31st July, you will need to pay a penalty.
The Income Tax Department’s helpdesk is working 24×7 to assist the taxpayers. The help desk provides assistance through calls, live chat, Webex sessions, and social media. In order to avoid fines and also last minute rush of filing income tax return, we have brought for you an easy step by step guide.
How To File ITR Online: Step-By-Step Guideline
- Search the Income Tax e-Filing portal – https://www.incometax.gov.in/iec/foportal/
- Log in to the e-Filing portal with your user ID (PAN), Password, Captcha code and click ‘Login’. (Create your ID incase you are filing it for the first time)
- Click on the ‘e-File’ menu and click the ‘Income Tax Return’ link.
- Click on ‘Continue’
- Fill all the information in all the applicable and mandatory fields of the Online ITR Form.
- Go to the ‘Taxes Paid and Verification’ tab & Choose the appropriate Verification option
I would like to E-Verify
I would like to E-Verify later within 120 days from the date of filing.
I don’t want to E-Verify and would like to send a signed ITR-V through normal or speed post to “Centralized Processing Center, Income Tax Department, Bengaluru – 560 500” within 120 days from the date of filing. - Select the ‘Preview and Submit’ button, Verify all the data entered in the ITR. ‘Submit’ the ITR.
- If you choose the ‘I would like to E-Verify’ option, e-Verification can be done through any of the following methods by entering the EVC/OTP when asked for.
- The EVC/OTP should be entered within 60 seconds else, the Income Tax Return (ITR) will be auto-submitted.
- The submitted ITR should be verified later by using ‘My Account > E-Verify Return’ option or by sending a signed ITR-V to CPC.
Fine If You Miss ITR Filing Deadline Of 31st July
If your salary is under Rs five lakh per annum then you will have to pay Rs 1,000 as late fee charges. However, if your annual income is above Rs five lakh, then you will have to pay Rs 5,000 as a fine.