Explained: ITR filing deadline about to run out, this what you need to know if you haven’t filed your return yet | Explained News,The Indian Express
Salaried individuals are required to file their income tax returns by July 31, while corporates or those who are required to audit their books of accounts can file their returns by October 31 of the assessment year.
With Sunday (July 31) being the last day for filing income tax returns for AY 2022-23 (FY 2021-22) for salaried individuals and the deadline unlikely to be extended, the Income Tax Department has issued a set of Frequently Asked Questions (FAQs) on issues pertaining to filing of the ITRs.
Salaried individuals are required to file their income tax returns by July 31, while corporates or those who are required to audit their books of accounts can file their returns by October 31 of the assessment year.
19,53,581 tax returns had been filed up to 1 pm today, the income tax department said. It also put out its email address orm@cpc.incometax.gov.in or helpdesk numbers 1800 103 0025 or 1800 419 0025 for resolution of queries and issues in filing of the returns.
What will happen if you don’t comply with the deadline for filing ITR?
If the return of income is not filed by the due date — July 31 for FY 2021-22 — there will be a levy of penalty under Section 234F. The penalty amount for filing returns last deadline would be Rs 5000 if ITR is reported before December 31 of the Assessment Year and Rs 10,000 if ITR is reported after December 31 but before March 31 of the Assessment Year.
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