Last date for filing income tax returns for FY 2022-23 is July 31, 2023.
Taxpayers will file their ITR for the Financial Year 2022-23 and the Assessment Year 2023-24 ended on March 31.
More than 4 crore income tax returns (ITRs) for the 2022-23 financial year have been filed so far and about 7 per cent of these are new or first-time filers.
As per the official website of the income tax department, if one fails to file an ITR within the deadline under Section 139(1), they can incur a late filing fee of Rs 5,000 as a penalty under Section 234F.
What will happen if sombody miss the ITR filing deadline?
But for individuals with an income of less than ₹5 lakh, the penalty will be ₹1,000
Also, under Section 234, no late fee will be levied on if a person is not supposed to file an ITR as per Section 139
The due date for income tax return (ITR) filing is 31st July 2023
So far Government has not extended the deadline for ITR Filling for FY 2022-23 (AY 2023-24).