What is the Income Tax Due Date for Return filing?
The due date is the date by which the returns can be filed without any late fee or penalty. Taxpayers filing their return after the due date will have to pay interest under Section 234A and penalty under Section 234F. Income tax filing due dates for FY 2021-22 (AY 2022-23)
| Category of Taxpayer | Due Date for Tax Filing-
FY 2021-22 *
(unless extended) |
Individual / HUF/ AOP/ BOI
(books of accounts not required to be audited) | 31st July 2022
|
| Businesses (Requiring Audit) | 31st October 2022
|
| Businesses (Requiring TP Report) | 30th November 2022 |
Financial Year (FY) and Assessment Year (AY)
You must understand that the return you are filing currently is for the income you earned in FY 2021-22,i.e. for the income earned between 1 April 2021 and 31 March 2022. The assessment year will be the year in which you file your returns and declare the income for tax assessment. For the income earned during the FY ( here FY 2021-22), the assessment year would be the immediate next year, i.e. 1st April 2022 to 31st March 2023. Hence, the assessment year would be AY 2022-23.
Created & Posted By Aashima Verma
Accounts Executive at TAXAJ
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