ITR FY 2022-23 : The Income Tax Department has announced the final date for taxpayers to complete ITR for the tax year 2022-23. The department also has released several forms relating to ITR
Individuals earning more than 3 lakh per year must file an ITR. Corporate companies also issue Form-16 in advance to aid employees in filing ITR FY 2022-23 on time.
Taxpayers are currently required to submit returns on the earnings earned during the fiscal year 2022-23. In filing an ITR and declaring your earnings and investments in the eyes of government officials. The last deadline for ITR files to be submitted has been set at 31 July 2023. In such a scenario tax payers should begin gathering all documents that pertain to ITR.
Last date for filing ITR FY 2022-23 by category to file ITR
- The deadline to file returns for taxpayers who are individuals HUF, HUF, AOP BOI, or for those with accounts books that aren’t legally required for audits, is 31 July 2023.
- The last day to file ITR for companies whose account books require auditing is the 31st of October, 2023.
- Businesses with international transactions or particular domestic transactions are given the final date of November 30, 2023 to file their tax returns.
- The deadline for filing Revised ITR and the belated return has been set at the 31st of December in 2023.
ITR Late Fee and Penalty
If tax payers file their returns before the deadline and file it late, they will be required to pay interest at a rate of 1 percent per month on unpaid tax amount as per section 234A. Additionally under Section 234F taxpayers must pay Rs 5,000 as a late fee for failing to file their return by the deadline. However in the event that the income of the taxpayer is less than five lakh rupees, the late fee has to be paid by Rs. 1,000.
ITR FY 2022-23
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