Miss July 31 ITR Deadline? Here's What You Risk Under Tax Law
Indian taxpayers are required to file their Income Tax Returns (ITR) for FY 2025-26 by July 31, which is the standard annual deadline. Individuals whose taxable income exceeds the basic exemption limit are legally obligated to submit their returns. Many taxpayers remain uncertain about whether their income level requires them to file. Failing to meet the deadline can attract penalties and other consequences under income tax regulations.
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