Income Tax Return Due Date: ITR Filing Last Date 2022-23

CBDT extended last date to file ITR for AY 2022-23 Online submit e-filing ITR-1 for FY 2021-22.

Income Tax Return Filing Due Date: The last date to file income tax return for Assessment Year 2022-23 (FY 2021-22) is 31st July 2022. Download New Income Tax Return Form i.e. ITR Form in PDF and ITR Utility in Excel for Assessment Year 2022-23 (PY 2021-22). Hindi ITR form for company, firm, LLP, HUF and Individual.

ITR Filing due date: Last date for filing ITR (Income Tax Return) for the financial year 2021-22 is 31st July 2022 for Individual / HUF/ AOP/ BOI and 31st October 2022 for businesses (Requiring Audit) and 30th Nov 2022 for businesses requiring transfer pricing report.

ITR Filing is Mandatory in 10 Situations

  1. If your total income exceeds the basic exemption limit of Rs. 2,50,000/-.
  2. If you have assets outside India.
  3. If you deposit more than Rs .1 crore in a bank account.
  4. If you incur Rs. 2 lakh on foreign travel.
  5. If your electricity Consumption is Rs. 1 lakh per annum.
  6. If Turnover of your business is more than Rs. 60 lakh in a year.
  7. If Gross Receipt from Profession is more than Rs. 10 lakh.
  8. If TDS is Rs. 25,000 or more
  9. If TCS is Rs. 50,000 or more.
  10. If deposit in a saving bank account is Rs.50 lakh or more.

Last date for filing ITR is 31-07-2022.

Income Tax Return Due date

What is the last date for filing ITR for AY 2022-23? The ‘due-date’ for filing income-tax returns for Assessment-Year 2022-23 is 31.07.2022. It has been reported that some of the taxpayers are facing difficulties in filing their income- tax returns due to various reasons including extension of due date for issue of Form 16 for the Assessment-Year 2022-23.

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

TaxpayerITR Filing Date
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
ITR filing last date

Extended Last Date

In order to facilitate the e-filing of return, the Income Tax Department has decided to give extension of 60 days for e-filing of return. Accordingly, the last date for filing ITR for AY 2022-23 is 30-09-2022 i.e. IT return can be filed upto 30th Sept 2022.

Did You Know? There are more than 101 million users have been registered on official e-Filing website and out of those only 71 million ITRs ( AY 2021-22) are filed and successfully e-Verified.

Aadhaar PAN linking date extended till 31st March 2023 subject to payment of fee for Rs. 500/- till 30th June 2022 and Rs. 1,000/- thereafter.

CBDT extended date for filing Form 10AB till 30th September, 2022.

Due date to file Income-tax Audit Reports and Forms: Here’s a compiled list of the forms that Chartered Accountants (CAs) need to file by 30th September 2022. Please refer to the table below and avoid missing the due date.

Penalty for Late Filing of Income Tax Return

CBDT has extended the last date for filing ITR by Individual, Body of Individuals (BOI), Hindu Undivided Family (HUF) and Association of Persons (AOP) for AY 2022-2023.

What happen if you miss the extended deadline, too? You will have to pay penalty and there are also other consequences and inconveniences attached to such delay.

Taxpayers can actually file ITRs for AY 2021-22 till September 30, 2021 and for AY 2021-22 till November 30, 2021. However, it doesn’t come without a cost. Let us discuss each aspect of late ITR filing for AY 2020-21 and AY 2021-22:

Section 234F Penalty for late filing of ITR

As per the provisions of section 234F of the Income tax Act 1961, if you file ITR after due date then you may be liable to pay a maximum late filing fees of ₹10,000. Let us understand the penalty prevision in detail.

  • 1) ₹5000 if ITR filed till 31st December, 2022.
  • 2) ₹10000 if ITR filed after 31.12.2022.

However, if your total income does not exceed ₹500000 then the penalty amount is reduced 1000 in both the above cases. In other words, you are required to pay fee of ₹1000 only even if you file your ITR after due date but before end of AY 2022-23.

This table shows you late filing fee for ITR assessment year 2022-23 related to financial year 2021-22.

ITR Filing DateTotal Income Up to ₹5,00,000Total Income above ₹5,00,000
Within due date i.e. 31-07-2022NilNil
Between 1st Dec to 31st Dec 202210005000

Section 234A Payment of Interest until ITR filed

According to the provisions of section 234A of the Income-tax Act 1961, you are liable to pay simple interest at the rate of 1% on unpaid tax amount. The interest shall be levied if ITR filed after due date, or is not furnished.

That means you have to pay interest u/s 234A in addition to penalty under section 234F along with the due tax before you file your belated income tax return.

Section 139(4) Belated Income Tax Return

Any taxpayer who has not furnished a return within due date u/s 139(1), may file ITR for any previous year at any time before the end of the relevant assessment year or before the completion of the assessment, whichever is earlier. Filing belated returns has some more disadvantages.

Section 139(5) Limited time for Revised Return

If you have made any mistake while filing your income tax return then you may correct wrong statement or omission by filing revised ITR. You are allowed to revised your ITR any time before three months prior to the end of the relevant assessment year or before the completion of the assessment, whichever is earlier.

The last date to file revised ITR is December 31, 2022 for AY 2022-23.

Therefore, the earlier you file, the longer would be the window available with you for revising your returns to rectify errors if any.

Section 80 Carry Forward of Losses is Not Permitted

Taxpayers are not allowed to carried forward and set off losses to subsequent years in case they miss the ITR deadline.

Section 80AC No deduction Allowed

If you not file ITR within due date you are not allowed deduction in respect of certain incomes. That means no deduction allowed under section 80H to 80TT of the Income-tax Act, 1961.

Delay in Receiving Income Tax Refunds

If you have a refund due from the Income Tax Department, you should file your Income Tax Return on time to receive the refund as early as possible.

Additionally, they may also lose the interest on the tax refund amount, if any, that they would have got if they would have filed their returns within the deadline.

Section 276CC Jail up to 7 Years if ITR not filed

If the tax payable on the total income is more than ₹3000 and you wilfully fails to furnish or file your ITR in due time you shall be punishable with:

  • a) Tax Amount up to ₹25 Lakh: 3 months to 2 years Jail with fine;
  • b) Tax Amount more than ₹25 Lakh: 6 months to 7 years Jail and fine;

However, if the taxpayer file their ITR before end of the relevant assessment year (AY 2021-22), the prosecution u/s 276CC is not initiated. In other words, you will not be punishable in case you file ITR on or before 31st March 2023.

ITR Not Filed at all

Notice u/s 142 to file ITR. If not replied to 142(1) notice or income truly not disclosed or furnished wrong information in ITR then you will receive notice u/s 271 to levy penalty of ₹10000.

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