ITR Filing 2023: Income Tax Department announces deadline for filing ITR for FY2022-23, penalty will be imposed on delay


The Income Tax Department has announced the last date for taxpayers to file ITR for the year 2022-23. The department has also released some forms related to ITR.

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People earning more than Rs 3 lakh annually should file ITR. Corporate companies are also issuing Form-16 ahead of time to help their employees file ITR on time.

Currently, taxpayers will file returns for the income earned in the financial year 2022-23. By filing ITR, you declare your investments and earnings to the government. This time the last date for the ITR files to be filed has been set as 31 July 2023. In such a situation, taxpayers should start collecting all the documents related to ITR.

Category wise last date for filing ITR

  1. The last date for filing returns for individual taxpayers, HUF, AOP, BOI or those whose account books are not required to be audited is 31 July 2023.
  2. The last date for filing ITR for businesses whose account books need to be audited is 31 October 2023.
  3. Businesses that have international transactions or specific domestic transactions have been given the last date of 30 November 2023 for filing returns.
  4. The last date for filing Revised ITR and belated return has been fixed as 31 December 2023.

ITR Late Fee and Penalty

If taxpayers file their return after the prescribed last date, then they will have to pay interest at the rate of 1% per month on the unpaid tax amount under section 234A. At the same time, under Section 234F, taxpayers will have to pay Rs 5,000 as late fee for missing the due date. On the other hand, if the total income of taxpayers is less than Rs 5 lakh, then this late fee will have to be paid Rs 1,000.

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