It is important that taxpayers take note of the ITR filing’s last date to avoid penalties or interests along with other consequences. ITR filing’s last date is as per section 139 of the Income Tax Act.
What is the Income Tax Return Due Date?
The deadline for filing taxes without incurring late fees or penalties is known as the due date.
ITR Filing Last Date
| Category of Taxpayer | Due Date | |
| Taxpayers not requiring Tax Audit | 31st July | |
| Taxpayers requiring Tax Audit | 31st October | |
| Taxpayers requiring Audit u/s 92E (transfer pricing) | 30th November | |
| Belated/Revised return | 31st December |
Tax Audit Due Date
| Category of Taxpayer | Original Due Date | |
| Businesses requiring Tax Audit | 30th September | |
| Businesses requiring Audit u/s 92E | 31st October |
The CBDT can extend the above due dates via notification. However, the income tax return can also be filed after the due date. But, it will be considered as a belated return u/s 139 (4), and late filing interest or penalty will be applicable u/s 234A and 234F. Hence, it is always advisable to file an ITR on or before the due date
Categories of Taxpayers for whom Tax Audit is mandatory
The following table explains the applicability of Tax Audits for taxpayers according to their earnings.
| Taxpayer | Condition for Tax Audit |
| Business |
|
| Profession |
|
Income Tax Return due date for previous financial years
The following table explains the due date to file income tax returns for previous financial years.
ITR filing last date for 2022 (AY 2022-23)
| Category of Taxpayer | Original Due Date | Extended Due Date |
| Individuals not requiring Tax Audit | 31st July 2022 | NA |
| Individuals requiring tax Audit | 31st October 2022 | 07th November 2022 |
ITD extended the due date to file ITR as the taxpayers faced technical issues on the original deadline.
ITR filing last date for 2021 (AY 2021-22)
| Category of Taxpayer | Original Due Date | Extended Due Date |
| Individuals not requiring Tax Audit | 31st July 2022 | 31st December 2021 |
| Individuals requiring tax Audit | 30th September 2021 | 15th February 2022 |
ITR filing last date for 2020 (AY 2020-21)
| Category of Taxpayer | Original Due Date | Extended Due Date |
| Individuals not requiring Tax Audit | 31st July 2022 | 10th January 2021 |
| Individuals requiring tax Audit | 30th September 2021 | 15th February 2021 |
ITR due date extension for AY 2021-22 & 2020-2021 was in response to the COVID-19 pandemic, which made it difficult for taxpayers to comply with the original deadline.
Due Date to file Belated Return
If an individual fails to file an income tax return by the due date, they can file a belated return. From FY 2021-22 (AY 2022-23) onwards, belated return u/s 139(4) can be filed on or before 31st December of the relevant assessment year.
Belated Return attracts late filing fees under section 234F.
Let’s take an example to understand better: Mr. Jay forgot to file his ITR before 31st July 2022. His total income for FY 2021-22 was INR 4,50,000. Jay can file his belated return up to 31st December 2022. He files his return on 25th November 2022. Then his return will be considered as a belated return and late filing fees of INR 1,000 will be applicable to him since his income is less than INR 5,00,000.
Due Date to file Revised Return
A taxpayer can revise a return if any mistake, omission, or wrong statement is found in the original return. From FY 2021-22 (AY 2022-23) onwards, Revised Return u/s 139(5) can be filed on or before 31st December of the relevant assessment year.
Further, from FY 2017-18 onwards, a Belated Return can also be revised.
Due date to file Updated Return
As per Section 139(8A) of the Income Tax Act, a taxpayer who has filed an Original ITR under Section 139(1), Revised ITR under Section 139(5), Belated ITR under Section 139(4), not filed ITR at all or by satisfying any other conditions mentioned can file ITR-U i.e. Updated ITR under Section 139(8A) no later than 24 months from the end of the relevant assessment year.
Consequences of missing the due date
- Interest- If you file the return after the due date, you will be liable to pay interest u/s 234A @ 1% per month or part month.
- Late Fee- A penalty of up to INR 5,000 is levied u/s 234F if you file the return after the due date.
- Loss Set-off- You can carry over losses from the stock market, mutual funds, real estate, or any of your businesses and offset them against the revenue from the next year. Because of the loss adjustment, your tax liability will be greatly reduced as a result. However, to carry forward the loss, filing the return by the due date is the condition.
- New Regime- If you want to opt for new regime, it is necessary that you file ITR on or before the due date.
- You cannot claim relief u/s 89E or relief under 90/ 90A, 91 if you miss the due date.
- Interest on IT refund– Taxpayers are entitled to 0.5% interest u/s 244A on the eligible refund amount. Hence, if you file the return before the due date, interest will be calculated from 1st April till the date of refund.
However, if you file the return after the due date, interest will be calculated from the date of the return filed till the date of the refund.
In addition to the above-mentioned points, if you skip filing the return, you might receive an intimation or notice from the ITD which will have unfavorable consequences.
FAQs
Usually, the due date to file ITR is 31st July for individuals not eligible for a tax audit. However, for individuals who are liable to submit an audit report, the due date is 31st October.
All PAN holders should ideally file their ITR. Albeit, if your annual income is more than INR 2.5 lakh, it is mandatory to file your ITR.
If you have missed the deadline for filing your Income Tax Return (ITR) in India, you may file a belated return under Section 139(4) of the Income Tax Act.
Yes, you can file an updated return u/s 139 (8A) up to 24 months from the end of the relevant AY if you missed the deadline to file a belated return.
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