ITR Filing Due Date for Financial year 2023-24 (A.Y 2024-25)
In this blog post, we delve into the intricacies of ITR filing due dates for the financial year 2023-24. Shedding light on why timely compliance is imperative and how you can streamline the process effectively.
As the financial year 2023-24 unfolds, taxpayers across the country find themselves gearing up for another round of income tax return (ITR) filings. Understanding the crucial deadlines and staying ahead of them is essential to ensure a smooth and hassle-free tax filing.
Check here the ITR filing due date for the financial year 2023-24 & AY 2024-25.
As per the Income Tax Act, the ITR filing due date varies based on the taxpayer’s category. For example, Salaried Individuals whose books are not required for an audit usually need to file their income tax returns by the 31st of July.
Companies and corporate bodies can file their returns by 31st October of the assessment year after an audit of their books of account.
Click here to book a CA-assisted Online ITR Filing.
Meaning of Due Date for Tax Return
The due date to file ITR is the date by which you can file your tax return without any late fee or penalty. After the due date, you will have to pay interest and penalty.
Due Date of filing Income tax return for FY 2023-24 (AY 2024-25)
| Taxpayers Category | Due Date FY 2023-24 (AY 2024-25) |
| For Individual / HUF/ AOP/ BOI (Books of accounts not required to be audited) | 31st July 2024 |
| For Businesses requiring Audit | 30th October 2024 |
| For Businesses (Requiring Transfer Pricing Report) | 30th November, 2024 |
| Revised Return | 31st December 2024 |
| Belated Return (with late fee) | 31st December 2024 |
Key Dates to Remember for the financial year 2023-24,
Taxpayers need to mark their calendars with the following essential dates related to ITR filing:
April 1, 2023: Commencement of the Financial Year
The financial year 2023-24 officially begins on April 1, 2023. It is essential to start keeping track of your income, expenses, and investments from the onset to maintain accurate financial records throughout the year.
July 31, 2024: Last Date for Individuals to File ITR
Individuals including salaried employees, professionals, and freelancers, are required to file their income tax returns for the financial year 2023-24 by 31st July 2024.
Missing this deadline may attract penalties and interest, emphasizing the importance of timely compliance.
September 30, 2024: Last Date for Companies and LLPs to File ITR.
Companies and Limited Liability Partnerships (LLPs) have until September 30, 2024, to file their income tax returns for the financial year 2023-24.
Corporate entities must adhere to this deadline to avoid repercussions and maintain regulatory compliance.
Due Date of filing Income tax return for FY 2022-23 (AY 2023-24)
The due date for filing an ITR varies based on the taxpayer’s category. Here’s the due date for filing Income Tax returns for the financial year 2022-23 and assessment year 2023-24:
ITR Due Date: AY 2023-24
| Taxpayers Category | Due Date FY 2022-23 (AY 2023-24) |
| For Individual / HUF/ AOP/ BOI (Books of accounts not required to be audited) | 31st July 2023 |
| For Businesses requiring Audit | 30th October 2023 |
| For Businesses (Requiring Transfer Pricing Report) | 30th November, 2023 |
| Revised Return | 31st December 2023 |
| Belated Return (with late fee) | 31st December 2023 |
ITR Filing Last Date for FY 2023-24 (AY 2024-25)
The last date to file ITR for Individuals for FY 2023-24 (AY 2024-25) without a late fee is 31st July 2024.
Due Date of filing ITR for the F.Y. 2021-22 (AY 2022-23)
The due date for filing Income tax returns varies based on the taxpayer’s category. Here’s the due date for filing Income Tax returns for the financial year 2021-22 and assessment year 2022-23:
ITR Due Date: AY 2022-23
| Taxpayers Category | Due Date FY 2021-22 (AY 2022-23) |
| For Individual / HUF/ AOP/ BOI (Books of accounts not required to be audited) | 31st July, 2022 |
| For Businesses requiring Audit | 31st July 2022 |
| For Businesses (Requiring Transfer Pricing Report) | 30th November, 2022 |
*The CBDT has extended the due date for filing Income Tax Returns for AY 2022-23 from 31st October 2022 to 7th November 2022 for corporate assesses or where tax audit is applicable.
Due date of filing ITR for Salaried employees for FY 2023-24 (AY 2024-25)
Salaried Individuals can file their income tax returns by 31st July 2024 without late fees and interest.
After the due date, a Penalty for late filing of ITR will be applicable. The due date is closer. Therefore, salaried persons must be ready with their Form 16, TDS Certificates, Bank statements, etc.,
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Due date of filing ITR for Companies and Corporates for FY 2023-24 (AY 2024-25)
All Companies and corporate bodies are required to file their Income Tax returns by 31st October of the assessment year after an audit of their books of account.
Last Date to file ITR for Companies for FY 2021-22 (AY 2022-23)
All Companies and corporates need to get their books of account audited before filing ITR.
Therefore, they can file their income tax returns by 31st October 2022* if not extended. (extended to 7th November 2022 by CBDT).
Frequently asked questions on the filing of ITR
31st July 2024 is the Due date for filing ITR for Individuals for the financial year 2023-24 & AY 2024-25.
31st July 2024 is the Last date to file ITR for Individuals for the financial year 2023-24 & AY 2024-25.
Last date of filing ITR for salaried for FY 2023-24 is 31st July 2024 without a late fee.
31st October 2024. All Companies and corporate bodies need to file their ITR by 31st October of the assessment year after an audit of their books of account.
If you don’t file your ITR or missed the deadline for FY 2023-24 i.e., July 31, 2024, then you have the option to file the belated ITR.
However, you have to pay a late filing fee to file your belated tax return. The last date for filing a belated ITR for the FY 2023-24 (AY 2024-25) is December 31, 2024.
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