Income Tax efiling in India for FY 2023-24 (AY 2024-25)
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File ITR Now Hire eCA NowDue Date of Income Tax Return(ITR) Filing in India
What is the meaning of the due date as per income tax?
Some individuals are required to complete an ITR at the revenue department after the end of each financial year. To ensure timely submission of the refund the tax department has set a deadline for the person to lodge the refund without paying any late fees. This last day is called the ITR submission deadline. The deadline for submitting an ITR varies depending on the type of testers ie. Individual, HUF, Firm, LLP, Company, Trust and AOP / BOI and research use. In general, individuals and organizations, those who should be researched have a more recent deadline than those who complete the ITR without auditing.
What are the due dates for the FY 2020-21(AY 2021-22) and FY 2019-20(AY 2020-21) ?
FY 2020-21 (AY 2021-22) income tax return is currently underway, and due to the coronavirus outbreak, the deadline for annual ITR filing has been extended. The ITR installation for FY 2020-21 (AY 2021-22) is currently underway.
| Class of assessee | FY 2020-21 (AY 2021-22) | FY 2021-22 (AY 2022-23) |
||
| Extended Due Date (As per Circular No. 17/2021 dt. 09.09.2021) |
Original Due Date |
Original Due Date |
||
| Individual & HUF | Non- Audit Cases (Individuals, professionals, small businesses etc.) [ITR-1, ITR-2 or ITR-4 sugam] |
31st December 2021 | 31st July 2021 |
31st July 2022 |
| Working Partner of a Firm or LLP whose audit is required u/s 44AB (ITR-2) | 15th February 2022 | 31st October 2021 | 31 October 2022 | |
| Non-Working Partner | 31st December 2021 | 31st July 2021 |
31st July 2022 |
|
| Audit Cases [ITR-3] |
15th February 2022 (Audit report is required to be filed by 15th January 2022) |
31st October 2021 (Audit report is required to be filed by 30th September 2021) |
31st October 2022 (Audit report is required to be filed by 30th September 2022) |
|
| Firm, LLP, AOP, BOI, AJP, Local Authority, Co-operative society | Audit Cases [ITR-5] |
15th February 2022 (Audit report is required to be filed by 15th January 2022) |
31st October 2021 (Audit report is required to be filed by 30th September 2021) |
31st October 2022 (Audit report is required to be filed by 30th September 2022) |
| Non-audit cases [ITR-5] |
31st December 2021 | 31st July 2021 |
31st July 2022 | |
| Company | All companies [ITR-6] |
15th February 2022 (Audit report is required to be filed by 15th January 2022) |
31st October 2021 (Audit report is required to be filed by 30th September 2021) |
31st October 2022 (Audit report is required to be filed by 30th September 2022) |
| Trusts, colleges, political parties | Trusts, colleges, political parties, etc. who are required to file their return u/s 139(4A), 139(4B), 139(4C) or 139(4D) [ITR-7] |
15th February 2022 (Audit report is required to be filed by 15th January 2022) |
31st October 2021 (Audit report is required to be filed by 30th September 2021) |
31st October 2022 (Audit report is required to be filed by 30th September 2022) |
| If not required to get its accounts audited | 31st December 2021 | 31st July 2021 |
31st July 2022 |
|
| Report to be filed u/s 92E | 31st January 2022 | 31st October 2021 (Audit report is required to be filed by 30th September 2021) |
31st October 2022 (Audit report is required to be filed by 30th September 2022) |
|
| Furnishing of ITR in case of Transfer Pricing | 28th February 2022 | 30th November 2021 | 30th November 2022 | |
| Revised Return | 31st March 2022 | By 31st December 2021 | By 31st December 2022 | |
| Belated/Late Return | 31st March 2022 | By 31st December 2021 | By 31st December 2022 |
- Company
- Someone who needs an account check or
- Working company Partner Or Firms, LLPs etc., that need accounting
Audit is required
In terms of section 92E, a person entering into international or specific domestic trade is required to submit a report s / s 92E.
what are the due dates for making payment of Advance Tax instalments?
The deadline for previous payment of FY 2021-22 (AY 2022-23) is:
| Instalment | Due Date | For all assessee (except assessee referred in next column) | Assessee declaring income under presumptive schemes under 44AD / 44ADA |
|---|---|---|---|
| 1st | Till 15th June | 15% of the amount of advance tax | Nil |
| 2nd | Till 15th September | 45% of the amount of advance tax | Nil |
| 3rd | Till 15th December | 75% of the amount of advance tax | Nil |
| 4th | Till 15th March | 100% of the amount of advance tax | 100% |
What is the due date for making TDS Payments?
The deadline for making TDS monthly payments can be better understood by going to government and non-government inspectors as below
| For the Month | Due Date |
|---|---|
| Due Date for TDS payment in case of Govt. Assessee | |
| April 2021 to February 2022 | Last date of the month in which TDS/TCS is deducted or collected |
| March 2022 | 7th April 2022 |
| Due Date for TDS payment in case of Non-Govt. Assessee | |
| April 2021 to February 2022 | 7th of next month |
| March 2022 | 30th April 2022 |
- Government Tax deducted outside the challan (i.e. Treasury Challan) must be paid on the date of seizure. However, in the case of a tax deduction under section 192 (1A), it must be lodged before or within seven days from the end of the deduction month, when the tax is payable and accompanied by the income tax. Tax levied on the acquisition of immovable property / s 194IA must be lodged within 30 days from the end of the payment month.
| Due date for Quarterly payment of TDS as permitted under Section 192, 194A, 194D or 194H are | |
|---|---|
| For the quarter | Due Date |
| For quarter ending 30th June | 7th July |
| For quarter ending 30th September | 7th October |
| For quarter ending 31st December | 7th January |
| For quarter ending 31st March | 30th April |
| Note*: Under section 192(1A), the payment has to be made within seven days (7 days) of the last day of the month in which the deduction is made or income tax is due. |
What is the due date for filing a TDS return?
The deadline for the submission of a quarterly return of TDS to Form 24Q, Form 26Q, Form 27Q & Form 27EQ by Government or non-government drawers is:
| Quarter | Period | Due Date |
|---|---|---|
| 1 | 01 April 2021 to 30 June 2021 | 31st July 2021 |
| 2 | 01 July 2021 to 30 September 2021 | 31st October 2021 |
| 3 | 01 October 2021 to 31 December 2021 | 31st January 2022 |
| 4 | 01 January 2022 to 31 March 2022 | 31st May 2022 |
- Form 24Q is a quarterly statement of TDS payroll details.
- Form 26Q is a quarterly statement of TDS return on Non-Payment (Home) payments.
- Form 27Q is also a quarterly statement of TDS Data Recovery Income Payments (NRI / External). Form 27EQ belongs to TCS Return.
| Form No. | Due date | Periodicity |
|---|---|---|
| Form 16 (TDS on salary) | 31st May 2022 | Annual |
| Form 16A (TDS on income other than salary) | Within 15 days from due date of furnishing TDS return | Quarterly |
| Form 16B (TDS on sale of property u/s 194IA) | Within 15 days from the due date of furnishing challan in Form No. 26QB | Each transaction |
| Form 16C (TDS on Rent) | Within 15 days from the due date of furnishing challan in Form No. 26QC | Each transaction |
| Form 27D (TCS) | Within 15 days from due date of furnishing TCS return. | Quarterly |
- Form 16A & Form 27D is issued within 15 days from the date of TDS / TCS refund deadline.
- Form 16A for TDS deductible income Form 27D is a Tax Collection Certificate (TCS)
What is the interest and penalty for delay in filing return?
| Particulars | Amount of penalty | Section of the Act |
|---|---|---|
| Delay in filing ITR | For FY 20-21 (AY 2021-22) & FY 21-22 (AY 2022-23) - when the total income of the person exceeds INR 5 Lakhs: Rs. 5,000 - any other case: Rs. 1,000 |
234F |
| Late filing of TDS return | Fee: INR 200 per day from the due date of filing till the date of filing such return. Such penalty shall not exceed the TDS amount.
Penalty: Minimum INR 10,000 and maximum INR 1,00,000 No penalty if the return is filed within one year from the due date |
234E 271H |
Conclusion :
In view of the new changes, it is clear that waiting for the last day (end of the financial year) will not be possible. Now, you need to track your tax-exempt requirements more than ever. For any further information, comment on the section below or for guidance on taxation, Contact Us Now !!
Frequently asked questions
What is the due date of tax filing for FY 2020-21 (AY 2021-22)?
Can I file ITR for FY 2020-21 (AY 2021-22) now?
What is the last date for filing ITR for AY 2021 22?
Is the filing deadline for taxes extended?
What is the Tax Audit due date for AY 2021-22?
What will happen if a salaried person files ITR after the due date?
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