Income Tax Return (ITR) filing is an essential task that all taxpayers in India must undertake every year. It is a process of reporting one’s income, deductions, and taxes paid to the government. The deadline for ITR filing for the financial year 2022-23 has been announced by the government. In this article, we will discuss the ITR filing last date for 2023 and the consequences of missing the deadline.
The last date for filing ITR for the financial year 2022-23 is July 31, 2023, for most taxpayers. However, for taxpayers who are required to get their accounts audited, the due date is extended to September 30, 2023. It is essential to note that the due date may be subject to change, and taxpayers should keep themselves updated on any changes.
Failing to file ITR by the due date can result in several consequences, including:
To avoid the consequences of missing the ITR filing deadline, taxpayers should keep the following tips in mind:
The ITR filing last date for the financial year 2022-23 is July 31, 2023, for most taxpayers. Failing to file ITR by the due date can result in several consequences, including late filing fees, interest on tax due, inability to carry forward losses, and even prosecution. Taxpayers should keep accurate records, plan ahead, seek professional help, and use online platforms to file their ITR on time and avoid any penalties.
This post was last modified on April 23, 2023 3:37 pm
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