The Income Tax Department has set December 31, 2024, as the final date for filing belated income tax returns for the Assessment Year 2024-25 with a penalty. Taxpayers who missed the original deadline (usually July 31, 2024) can still file their returns by this extended date, but they will be subject to a penalty under section 234F, which can range from ₹1,000 to ₹ 5000 depending on the income.

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