If taxpayers have not filed their returns by the due date, they can still file their returns until December 31, 2022. However, they will have to pay a fine for not filing their tax returns on time.
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The deadline for filing your income tax return (ITR) for the 2021-22 financial year has passed. Those who had deposited their ITRs must now wait to check the status of their refund. Eligible taxpayers can view their ITR refund status online at the official website of the Department of Income Tax- revenuetax.gov.in. They can also visit the National Securities Depository Limited (NSDL) website for the same at onlineservices.nsdl.com. To check their refund status, taxpayers will need their Permanent Account Number (PAN). Once they log in to the website, they can check if their income tax refund has been processed, is awaiting electronic verification, or if an error has been detected by the income tax department.
Steps to check ITR refund status:
― Visit the Income Tax Service website at revenuetax.gov.in.
― Log in using your PAN and user ID.
― Select the ‘My Account’ option and navigate to ‘Refund/Request Status’.
― From the drop-down menu, select ITR and click on your acknowledgment number.
― A new web page will open containing all of your tax information, including refund status.
You can also check the status of your ITR refund using the NSDL website by following this step-by-step procedure:
– Visit the official site.
― Click on the link to access the taxpayer’s reimbursement status.
― Enter your PAN details and select the assessment year 2022-23.
― Click Submit.
― Your ITR status will be visible on the screen.
This year, the government refused to extend the income tax deadline to July 31, 2022. If taxpayers had not filed their returns by the due date, they can still file their returns until December 31, 2022. However, they will have to pay a fine. for not filing their tax returns on time.
Taxpayers will have to pay a fine of Rs 1,000 if their annual income does not exceed Rs 5 lakh. If their income is more than Rs 5 lakh, taxpayers will have to pay Rs 5,000 as ITR late fee along with interest on late payment of income tax.
It should be noted that if your gross income is below the basic exemption limit specified by the government, you will not be penalized for late filing of the ITR.
If late filing is not made by December 31, 2022 for AY 22-23, you will not be able to voluntarily file your ITR for the specified assessment year. In this case, the IT department will advise you of what needs to be done as the tax details are filed.