What is the Last Date to File Income Tax Return?

What is the Last Date to File Income Tax Return?

What are the due dates of Income Tax Return Filing for AY 2022-23?

For Individuals and HUFs - the due date for filing their income tax returns for financial year 2021-22 (AY 2022-23) are as follows:
Category of TaxpayerDue Date for Tax Filing- AY 2022-23*(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

Has the Income Tax Due Date for AY 2022-23 Extended?

The one word answer to this is "NO" to income tax due date for AY 2022-23 has not extended. However, if you have missed filing your income tax returns, here's what you have to do.

What if the due date for filing the return is missed?

If the original due date for filing an income tax return is missed, you can file a return later after the due date - such return is known as a "belated return". The income tax agency also mentions the date by which the belated return must be filed. This deadline has been pushed back three months to December 31st of the assessment year (unless extended by the government).
However, if you file your ITR after the deadline, you'll have to pay a penalty under Section 234F. A taxpayer can be charged up to ₹10,000 in late filing fees. The IT Department, on the other hand, imposes a ₹1,000 penalty on those whose income does not exceed ₹5,000,000. This provides financial relief to these taxpayers.
The penalty for filing a late return is described in the following table:
Date of Filing ReturnPenalty for Taxpayers with Total Income More Than ₹5,00,000Penalty for Taxpayers with Total Income Less Than ₹5,00,000

Up to prescribed time limit u/s 139(1)

A late filing fee is not applicable

A late filing fee is not applicable

After time limit

₹5,000

₹1,000

Created & Posted by Pooja

Income Tax Expert at TAXAJ

 

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