In India, the due date for filing company tax returns depends on the financial year for which the return is being filed. The financial year in India runs from April 1st to March 31st of the following year, and the assessment year is the year immediately following the financial year.
The due date for filing company tax returns for the financial year 2021-2022 (assessment year 2022-2023) and onwards is as follows:
1. Companies Not Required to Get Audited:
For small companies that are not required to undergo a tax audit under Section 44AB of the Income Tax Act, the due date for filing income tax returns is July 31st of the assessment year. For example, the due date for the financial year 2021-2022 (assessment year 2022-2023) is July 31, 2022.
2. Companies Required to Get Audited:
For companies that are required to undergo a tax audit under Section 44AB of the Income Tax Act, the due date for filing income tax returns is September 30th of the assessment year. For example, the due date for the financial year 2021-2022 (assessment year 2022-2023) is September 30, 2022.
It is important to note that these due dates are subject to change by the Income Tax Department, and companies should verify the latest due dates for filing income tax returns for each financial year. Filing the tax return within the prescribed due date is crucial to avoid penalties and interest for late filing.
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