Significant Deadlines for Filing ITR in India: FY 2022-23 (AY 2023-24) for Diverse Taxpayer Categories

Individuals, businesses, and other entities must remember the various due dates for ITR filing. The specific deadline will depend on the type of tax being filed.

You safeguard yourself from potential penalties by submitting your tax returns on time.

You can prevent paying penalties by submitting your tax returns on time.

Let us unfold the due dates for varied kinds of taxes under the newest umbrella of ITR tax filing:

1) File ITR online for FY 2023-24 by July 31, 2023, using the applicable ITR Application Form.

2) Pay 1st installment of Advance Tax for FY 2023-24 by June 15, 2023, using Challan No./ ITNS 280.

3) Pay the 2nd installment of Advance Tax for FY 2023-24 by September 15, 2023, using Challan No./ITNS 280.

4) Submit Tax Audit Report for FY 2023-24 by September 30, 2023, using Form 3CA/3CB/3CD.

5) Submit a Transfer Pricing Report for specific domestic or international transactions by October 31, 2023, using Form 3CEB.

6) File ITR for FY 2023-24 (audit cases without transfer pricing) by October 31, 2023, using the applicable ITR Form.

7) File ITR for transfer pricing cases for FY 2023-24 (specified domestic or international transactions) by November 30, 2023, using the applicable ITR Form.

8) Pay the 3rd installment of Advance Tax for FY 2023-24 by December 15, 2023, using Challan No./ITNS 280.

9) File Revised or Belated Return for FY 2023-24 by December 31, 2023, using Revised or Belated Return Form.

10) On or before March 15, 2024, pay the fourth and final installment of advance tax for the fiscal year 2023–24 (single and final installment for taxpayers choosing the presumptive taxation system).

Let us explore more categories and their corresponding ITR tax filing due dates:

Trusts, colleges, political parties, etc. required to file their return under sections 139(4A), 139(4B), 139(4C), or 139(4D) [ITR-7] have a due date of October 31, 2023, provided that the audit report is required to be filed by September 30, 2023, and by July 31, 2023, if their accounts are not required to be audited.

The due date for filing ITR-5 tax returns for firms, LLPs, AOPs, BOIs, AJPs, local authorities, and cooperative societies is October 31, 2023. For audit cases, the audit report must be filed by September 30, 2023. On the other hand, the due date for filing returns for non-audit cases must be filed by July 31, 2023.

Can you amend the original return?

Following Section 139(5), the taxpayer may amend the original return if certain changes necessitate such action. On or before the deadline of December 31 of the assessment year, you may submit a late return.

FAQs:

1) How can ITRs be amended after the deadline?

If the taxpayer chooses to do so because of some amendments, changes to the original return may get made using the revised return as per section 139(5). A late return must be submitted by December 31 of the assessment year.

2) When is the income tax return filing deadline?

For individuals and non-audit cases, an income tax return is due on July 31 and October 31 respectively for the relevant assessment year.

3) When is the deadline for filing company returns?

Domestic enterprises must submit their Financial Year (FY) 2023–2024 returns by October 31, 2023. The ITR is due on November 30, 2023, if the corporation has any foreign transactions or specific domestic transactions and is required to file a report in Form Number 3CEB under Section 92E.