ITR Filing Due Dates for Financial Year 2022-23

Due Date of ITR Filing in India

Check the last date to file ITR For FY 2021-22(AY 2022-23)

Many of us wait till the last minute before springing into action to submit our ITR’s, be it a habit, fear or expertise. However, non-adherence of the due date or the last day for ITR Filing might have serious ramifications from the Income Tax Department. Section 139(1) of the Income Tax Act establishes the due dates or deadlines for filing an income tax return.

The deadline for filing taxes varies depending on whether the case is under audit or not.

Income tax filing due dates for the AY 2022-23

Category of Taxpayer	Due Date for Tax Filing – FY 2022-23
Individual / HUF/ AOP/ BOI (books of accounts not required to be audited)	30th Sep 2022 (extended from 31st July)
Businesses (Requiring Audit)	30th Sept 2022 (extended from 7th October)
In case Businesses (Requiring TP Report)	3oth Nov

Update on the Union Budget for 2021:

• Exemption from Income tax return filing to senior citizens aged Sixty-five years and above, earning only pension and interest income.

What is the Income Tax?

• A direct tax and an indirect tax are the two sorts of tax levies. Income tax is a type of direct tax that is levied on the basis of the taxpayer’s earnings. Salary, house property, business, capital gain, and income from other sources are examples of different types of income.
• If the taxpayer’s total income after using the Chapter VI-A deduction exceeds the taxable income limit, he must pay income tax.

Reasons of ITR filling

Filing Income Tax Return Due Dates for Assessment Year 2022-23

There are several types of assessees, including Trusts, Firms, LLPs, Individuals, HUFs, Companies, and AOP/BOIs. The due date varies depending on whether the category is an audit or non-audit.

Last Date of Income Tax Return Filing for Assessment Year 2022-23 (Non-Audit Cases)

• For assesses whose books of account are not required to be audited, the common due date for filing the ITR is July 31, 2022. The new deadline is September 30, 2022.

Filing ITR Due Date for Assessment Year 2022-23 (Audit Cases)

For audit cases, the general due date for filing the Income Tax Return is Sept 30, 2022. The CBDT has extended the deadline until Oct 7th, 2022.

Due Dates for Income Tax Audit Report (3CA-3CD/3CB-3CD)

• The deadline for filing a Tax Audit Report has been extended to September 30, 2022, for all categories of assessees whose accounts must be audited. The new deadline is October 7, 2022

Revised and Belated Income Tax Returns Due Dates for Assessment Year 2022-23

• Due date for filing a revised and belated income tax return for AY 2022-23 has revised by CBDT till 31st January 2023.

File Income Tax Returns for Assessment Year 2022-23 before 31st March with Rs. 10k Penalty

• Income tax department has issued notices to taxpayers for late filing of tax returns for the fiscal year 2022-23, coupled with a penalty of INR 5000 (if filed after the due date but before December 31st) and INR 10000 (if filed after the due date but before December 31st) (on the filing of return after 31st December to 31st March).
• The taxpayer has to file the late filing of tax returns for A.Y. 2022-23 before 31st March anyways. It’s also worth noting that the penalty applies even if the taxpayer files the forms before March 31st, with no option to file after March 31st 2023. If the taxpayer’s total income does not exceed Rs 5 lakh, however, the highest penalty for late payment is Rs 1000.

Note: Beginning with AY 2022-23, the deadline for filing a late or revised return has been changed to the 31st of December instead of the 31st of March, although there has been no change to section 234F.

Last Date of ITR Filing for Assessment Year 2022-23

• Taxpayers who are required to file a report under Sec 92E have until November 30, 2022 to file their ITR. (Taxpayers who are required to file a Transfer Pricing Report under Section 92E)

Advance Taxes under income tax Filing Due Dates Financial Year 2021-22

If the tax liability is more than Rs 10,000 in a financial year then advance tax needs to be paid by the assessee.

15th June 2021(15%)     |    15th Sept. 2021 (45%)  |      15th Dec. 2021 (75%)    | 15th March 2022 (100%)  |

Assessees who are subject to section 44AD and 44ADA (i.e. Presumptive Income) must also pay the advance tax by the 15th of March of the preceding year. Any tax paid before the 31st of March, however, will be considered as Advance Tax

For query or help, contact:   singh@carajput.com or call at 9555-555-480

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