ITR Filing 2024 Highlights: About 6 crore ITRs filed for FY24; 70% under new tax regime

3 min read | Updated on July 31, 2024, 08:34 IST

SUMMARY

ITR Filing 2024: The deadline for filing an income tax return (ITR) for the financial year 2023-24 (FY24) ends on Wednesday, July 31, and the government has not announced any extension yet. The tax authority has advised taxpayers to pay their taxes as soon as possible.

The last date to file ITR is July 31, 2024

ITR Filing 2024 Live Update at 5:18 pm: About 6 crore ITRs filed for FY24; 70% under new tax regime

About 6 crore income tax returns have been filed for income earned in 2023-24, of which 70% were filed under the new simplified tax regime which offers lower rate of tax, Revenue Secretary Sanjay Malhotra said on Tuesday.

ITR Filing 2024 Live Update at 3:42 pm: Govt mopped up ₹98,681 crore from taxing long term capital gains in listed equities in FY23

The government has garnered ₹98,681 crore from long term capital gains tax on listed equities in 2022-23, a 15% growth over the previous year, Parliament was informed on Tuesday.

Minister of State for Finance Pankaj Chaudhary gave details of collections from Long Term Capital Gains (LTCG) tax between fiscal 2018-19 and 2022-23 in the Rajya Sabha.

ITR Filing 2024 Live Update at 2:40 pm: ITR deadline | Here are five tips to prevent errors

Considering the schedule constraints on most working professionals, there can be instances where taxpayers may have to resort to the last-minute rush to file their income tax returns (ITRs) before the deadline ends. Here are some of the key mistakes that one should avoid. Read more.

ITR Filing 2024 Live Update at 1:04 pm: How to check ITR refund status on incometax.gov.in?

If receive ITR refunds in a timely manner and to avoid penalty, individuals should file Income Tax Return (ITR) for the assessment year 2024-25 by July 31. If you have already filed your ITR and are thinking of the next steps, here is your guide. Read more.

ITR Filing 2024 Live Update at 12:10 pm: Income Tax Act review attempts to make 'bulky' laws 'simpler', says CBDT Chairman

Central Board of Direct Taxes (CBDT) Chairman Ravi Agarwal said that the Income Tax Act (I-T Act) would be comprehensively reviewed to simplify the "bulky" law and make it "simpler" to understand and comfortable for taxpayers, in addition to aligning new technology processes with it. Read more.

ITR Filing 2024 Live Update at 11:21 am: CA bodies demand extension of ITR filing deadline

ITR filing deadline for fiscal year 2023-24 should be extended till August 31, 2024, two chartered accountant (CA) bodies have demanded in a letter to Union Finance Minister Nirmala Sitharaman.

The 30-day extension is required due to "technical glitches" on the e-filing portal – incometax.gov.in/iec/foportal/ – and the increased amount of time needed to report complex transactions, the letter stated. Read more.

Also Read: Step-by-step guide to calculate tax on your annual income

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