Attention!! Last Chance to Claim your Income Tax Refund File Belated Return
Hello All,
We’ve all missed a flight or two, Well, that’s a lost cause. But missing your Income Tax Return (ITR) filing deadline is something you can still fix!?
If you missed the original deadline of July 31, 2024, don’t fret – belated filing gives you one last shot to claim your tax refund and be tax complaint.
? File Your Belated ITR by December 31, 2024!
?? Penalties for Late Filing:
Note: From FY 2023-24, New Tax Regime is the default regime for belated return. ? Consequently, a belated ITR filer will not be able to claim tax deductions and exemptions that are available under the old tax regime.
Better late than Never, hold true for your taxes
1?? Avoid Severe Penalties
While filing late may attract a penalty, failing to file completely can lead to even more serious consequences, including higher penalties, interest, or even prosecution under certain cases.
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2?? Claim Refunds
If you’re eligible for a tax refund, you can only claim it by filing your ITR. Even a late filing allows you to get back what’s rightfully yours. Missing 31st December late filing deadline means missing on the refund.
3?? Stay Tax Compliant
Filing belated ITR ensures you stay on the right side of the law and maintain a clean financial record for loans, visas, and other formalities.
4?? Avoid Higher Interest on Dues
Filing even late helps reduce the accumulation of interest under Section 234A, ensuring you minimize your liabilities.
5?? Carry Forward Losses
While most losses can't be carried forward with a belated return, house property losses and unabsorbed depreciation are exceptions. But remember: if you skip late filing deadline, even these opportunities will slip away.?
How to File Your Belated ITR
You still have time to get it right! You can choose one of these two options:
? Don’t Let Your Tax Refund Slip Away – File Your Belated ITR Today and get your refund back where it belongs-in your pocket. https://tax2win.in/ca-assisted