ITR Filing: Taxpayers have to pay a penalty for filing income tax returns late. At the same time, there are some taxpayers who will not have to pay any penalty even for filing ITR after the deadline.
These taxpayers will not have to pay a penalty even after the deadline is over.
ITR Filing: It is necessary to file income tax returns for the financial year 2023-24 and assessment year 2024-25 by July 31, 2024. After this you will have to pay a penalty for filing the return.
ITR Filing: It is necessary to file income tax returns for the financial year 2023-24 and assessment year 2024-25 by July 31, 2024. After this you will have to pay a penalty for filing the return.
But there are some people who will not have to pay any kind of tax on filing ITR after the deadline is over. We are giving you information about this.
If a person does not have any tax liability, then you will not have to pay any penalty for filing the return even after the deadline. According to the old tax regime, you will not have to pay any penalty for an annual income of Rs 2.50 lakh. At the same time, the limit for a person above 60 years of age is Rs 3 lakh.
At the same time, the exemption limit for senior citizens above 80 years of age is Rs 5 lakh.
At the same time, according to the new tax regime, the benefit of tax exemption is available on an income of Rs 3 lakh.
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