ITR Filing Last Date 2023: People with annual incomes over Rs 3 lakh should file an ITR. To assist their employees in submitting their ITRs on time, corporate companies are now sending Form-16 in advance. Taxpayers are currently required to file returns for income received during the fiscal year 2022–2023. You notify the government of your investments and income by completing an ITR. This time, the deadline for submitting ITR files has been set for July 31, 2023. In this case, taxpayers should begin gathering all ITR-related paperwork.
Don’t miss out on the opportunity
- Individual taxpayers, HUF, AOP, BOI, or those whose account books do not need to be audited have until July 31, 2023, to file their final returns.
- Businesses whose account books need to be audited have until October 31, 2023, to file their ITRs.
- The deadline for filing taxes for companies that engage in specialised domestic or foreign business is 30 November 2023.
- The deadline for filing overdue returns and revised ITRs has been set for December 31, 2023.
Unpaid taxes under section 234A to attract 1% monthly interest after the deadline.
The unpaid tax amount under section 234A will be subject to interest at the rate of 1% per month if the taxpayer files their return after the statutory final day. In addition, under Section 234F, taxpayers who miss the due date must pay a late fee of Rs 5,000. On the other hand, this late fee will only need to be paid in the amount of Rs 1,000 if the taxpayers’ combined income is less than Rs 5 lakh.
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