ITR Filing 2023-24: Deadlines of ITR Filing for Different Taxpayers; Let’s have a quick look

Did you realize that filing your income tax return (ITR) on time is not only important but crucial? The deadline for filing your ITR varies depending on your income type, and these deadlines normally remain constant year after year unless the government decides to extend them. Missing the deadline incurs a large penalty, which might increase your financial burden.

It’s not only about avoiding penalties; filling your ITR on time ensures that you’re in conformity with tax regulations and may be eligible for different tax benefits and refunds. So, mark those deadlines on your calendar and keep on top of your taxes!

The following are the ITR filing deadlines for various types of taxpayers for the financial year 2023-24 (AY 2024-25).

Last Date for ITR Filing (AY 2024-25)

Individuals, Hindu Undivided Families (HUFs), Associations of Persons (AOPs), and Bodies of Individuals (BOIs) must file their ITRs by the deadline. They have until July 31, 2024, to submit their income tax returns.

ITR deadline for Businesses that require Audit Reports

Businesses that require audit reports, such as businesses, one-person companies (OPCs), limited liability partnerships (LLPs), and private limited corporations, must file their income tax returns by October 31, 2024. However, it is important to note that the audit report must be submitted by September 30, 2024.

Deadline to file Income Tax Returns for Businesses that require Transfer Pricing Reports

Businesses that require transfer pricing reports must guarantee that their income tax returns (ITRs) are filed by November 30, 2024.

Deadline for Revised ITR Filing

The deadline to submit revised income tax returns is December 31, 2024.

Deadline for Belated ITR Filing

If you miss the July 31, 2024, income tax filing deadline, make sure to submit a belated or late return by December 31, 2024.