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As the deadline for filing ITR this year is falling on a Sunday (31st July), which will be a bank holiday across India, It is advisable for individuals to file their ITR before the deadline and not wait till the last minute. 
The deadline of filing ITR falling coinciding with a bank holiday does not mean that taxpayers can not file their returns but only implies that the returns cannot be submitted physically.
However, due to the last-minute rush, it is very likely that the portal could face technical issues.
Late filing of ITR If the total amount of income that must be reported exceeds Rs 5 lakh, a Rs 5000 penalty will be assessed for the late submission of forms. The fine is up to Rs 1,000 if the person's total annual income is less than Rs 5 lakh.

Income Tax Returns: July 31 deadline is a bank holiday; here's what to do

If the total amount of income that must be reported exceeds Rs 5 lakh, a Rs 5000 penalty will be assessed for the late submission of forms

As the deadline for filing ITR this year is falling on a Sunday (31st July), which will be a bank holiday across India, It is advisable for individuals to file their ITR before the deadline and not wait till the last minute.&nbsp;
The deadline of filing <a href="https://www.editorji.com/business-news/income-tax-return-which-itr-form-to-choose-1658833393445">ITR</a> falling coinciding with a bank holiday does not mean that taxpayers can not file their returns but only implies that the returns cannot be submitted physically.
Also read/watch| <a title="Jet Airways ready for take-off in just a month" href="https://www.editorji.com/business-news/jet-airways-ready-for-take-off-in-just-a-month-1658907379141">Jet Airways ready for take-off in just a month</a>
However, due to the last-minute rush, it is very likely that the portal could face technical issues.
Late filing of ITR &nbsp; If the total amount of income that must be reported exceeds Rs 5 lakh, a Rs 5000 penalty will be assessed for the late submission of forms. The fine is up to Rs 1,000 if the person's total annual income is less than Rs 5 lakh.

Superstar Rajinikanth has been honoured by the Income Tax Department in Chennai in recognition of his contribution towards nation building. Thalaiva has become the highest taxpayer in the state of Tamil Nadu. 
The legendary actor's daughter Aishwarya Rajinikanth accepted the award on behalf of the actor who skipped the event.
An elated daughter, Aishwaryaa Rajinikanth shared a picture of the award on Instagram and wrote, "Proud daughter of a high and prompt taxpayer. Many thanks to the #incometaxdepartment of Tamilnadu and Puducherry for honouring appa on #incometaxday2022 #onbehalfofmyfather." 
Apart from this, Bollywood actor Akshay Kumar also received a certificate from the Income Tax department as the nation's "highest taxpayer". For a long time, Akshay Kumar has been ranked among the top taxpayers in the nation. In 2017, Akshay was known to have paid Rs. 29.5 crores in taxes, placing him at number 10 on Forbes' list of the highest paid celebrities. 

Rajinikanth honoured by Tax department, here is why

Superstar Rajinikanth has another claim to fame and the Income Tax department is applauding him for it

Income Tax Department observed its 162nd occasion of the National Income Tax Day on&nbsp;July 24, 2022

Superstar Rajinikanth has another claim to fame, he is the highest tax payer from the state of Tami Nadu. Honouring this the Income Tax Department in Chennai presented him an award.&nbsp;
The legendary actor's daughter Aishwarya Rajinikanth accepted the award on behalf of the actor who skipped the event.An elated daughter, Aishwaryaa Rajinikanth shared a picture of the award on Instagram and wrote, "Proud daughter of a high and prompt taxpayer. Many thanks to the #incometaxdepartment of Tamilnadu and Puducherry for honouring appa on #incometaxday2022 #onbehalfofmyfather."&nbsp; The superstar was last seen in &lsquo;Annaatthe&rsquo; directed by Siva. The film was a box-office success and collected over Rs 240 crores. Rajinikanth will next be seen in film-maker Nelson Dilipkumar&rsquo;s next titled &lsquo;Jailer&rsquo;.
Apart from this, Bollywood actor Akshay Kumar also received a certificate from the Income Tax department as the nation's "highest taxpayer".&nbsp; For a long time, Akshay Kumar has been ranked among the top taxpayers in the nation. In 2017, Akshay was known to have paid Rs. 29.5 crores in taxes, placing him at number 10 on Forbes' list of the highest paid celebrities.&nbsp;

income tax dept

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