Last date to file return is different for every taxpayer, check what is the deadline in your case

ITR Filing Due Date: The last date for filing Income Tax Return (ITR) is approaching. Every taxpayer is required to file the return before this deadline because in case of default, the penalty will be paid. For most of the taxpayers, the last date to file ITR for the financial year 2021-22 is 31st July, but some should keep in mind that the due date for filing ITR varies for different taxpayers. Below are the details of filing returns for all types of taxpayers. Keep in mind here that the government can also increase the deadline.

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Here are the deadlines for all types of taxpayers

• Individuals and Salaried: For return filing, Individuals and Salaried Persons whose accounts are not to be audited, they have to file by the last of this month i.e. 31st July.
• HUF: For Hindu Undivided Families (HUFs) whose accounts are not to be audited, the deadline is July 31.
• Whose accounts are to be audited: The deadline for filing returns for companies, working partners of a firm, proprietorship, firm, etc. whose accounts are to be audited, is 31 October 2022.
• Taxpayer under section 92E: If international transactions have been done in any financial year, then for this report has to be filed under section 92E. The deadline for filing returns for such taxpayers is 30 November 2022.

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What if you miss filing?

If you miss the deadline, you will have to pay a late fee of Rs 5000 under section 234F. However, for small taxpayers with annual taxable income of less than Rs 5 lakh, this penalty amount is Rs 1,000. Apart from late fee, taxpayers will also have to pay penalty under section 234A of the Income Tax Act. If you are paying advance tax due, you will have to pay interest penalty under section 234B and section 234C. The last date to file belated income tax return is 31 December 2022.

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where to file return

Taxpayers can file their return for the assessment year 2022-23 by visiting the Income Tax website (https://incometaxindia.gov.in). However, if taxpayers face any problem, they can also take the help of a professional like CA. Apart from this, some online platforms also help in filing returns.

(Article: Rajeev Kumar)