income tax return filing last date

Income Tax Return Filing Last Date

The deadline to file an income tax return (ITR) for the assessment year 2022-23 for individual taxpayers was July 31. Those who plan to file the ITR after the due date will have to pay a penalty of ₹ 5,000.

However, there are certain cases when this penalty is not levied even if one fails to file the income tax return by the due date.

Since the deadline of July 31 has passed, one must file a belated ITR. The penalty of ₹ 5,000 will be imposed in this case as per the existing law, but a few individual taxpayers are exempted from paying the penalty.

Income tax filing due dates for FY 2021-22 (AY 2022-23)

Category of TaxpayerDue 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

What happens if you miss the return filing deadline?

Interest: If you file your return after the due date, you will have to pay interest under Section 234A @ 1% per month or part month on the unpaid tax amount.

Late fee: A of Rs. 5000 under Section 23AF will need to be paid. It shall be reduced to Rs 1,000 if the total income is less than Rs 5 lakh.

Loss Adjustment: If you have incurred losses from the stock market, mutual funds, properties, or any of your businesses, then you can carry them forward and adjust them with next year’s income. This helps in significantly lowering your tax liability. Loss adjustment is permitted only if you declare the losses in your ITR and file it with the income tax department before the deadline.

Belated Return: If you miss the ITR filing due date, you can file a return after the due date, called a belated return. But still, you will have to pay the late fee, and interest and will also not be allowed to carry forward the losses for future adjustment. The income tax department has also specified the due date of filing the belated return which is 31st December of the assessment year (unless extended by the government). For this year, you may file the belated return latest by 31 December 2022.

Important due dates of income tax return filing for FY 2021-22

Whenever we talk about income tax, there are certain compulsory tax formalities that need to be followed within the specified due dates, such as filing income tax returns, paying advance tax on time, etc.

Here is the TAX CALENDAR for the FY 2021-22 (AY 2022-23):

Due dateNature of ComplianceCompliance ParticularsForms/ documents
15.06.2022Advance taxFirst instalment for FY 2022-23Challan No./ITNS 280
31.07.2022ITR filing
(for non-audit cases)		ITR filing for FY 2021-22Applicable ITR Form
15.09.2022Advance taxSecond instalment for FY 2022-23Challan No./ITNS 280
30.09.2022Tax audit report
(other than transfer pricing)		Tax audit report for FY 2021-22Form 3CA/3CB and 3CD
31.10.2022Transfer Pricing Report (undertaken international or specified domestic transactions)Submission of reports for FY 2021-22Form 3CEB
31.10.2022ITR filing
(for audit cases without transfer pricing)		ITR filing for FY 2021-22Applicable ITR Form
30.11.2022ITR filing for transfer pricing casesITR filing for FY 2021-22
(if having international or specified domestic transactions)		Applicable ITR Form
15.12.2022Advance taxThird instalment for FY 2022-23Challan No./ITNS 280
31.12.2022Belated return or revised return filingBelated return or revised return for FY 2021-22Belated/revised return
15.03.2023Advance tax1. Fourth instalment for FY 2022-23
2. Single and final instalment for taxpayers opting for presumptive taxation scheme for FY 2022-23


Challan No./ITNS 280
Created & Posted by Garima
Article Assistant at TAXAJ

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