Income Tax Return (ITR) for the assessment year 2021-2022 can be filed by December 31, 2022. Before this 31st July was the last date.
Income Tax Return Latest News:According to part of Section 139($) of the Income Tax Act, 1961, there is a provision to file a late Income tax return (ITR) If any person (Taxpayers) missed his income tax return file deadline then. The last date to file an income tax return ended on December 31, 2022. Till, 31st of July, more than 5 crore income tax returns were filed (Date released by Income Tax Department).
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| Income Tax Return (ITR) Filing |
“Delays end in dues! 31st December, 2022 is your last chance to file a belated revised ITR for AY 2022-2023. Hurry! File your ITR before the due date,” the department of income tax Said on twitter.
What is Belated ITR (Income Tax Return)?
If any person missed his ITR file deadline then there is a provision according to Section 139(4) of Income Tax Act, 1961. A person has to pay Rs. 5,000 penality, if he or she misses his ITR filing deadline of December 31, according to Section 234F.
While taxpayers whose salary amounts less than Rs. 5 lakh have to pay a penalty of Rs. 1,000. All individuals who are exempted don’t have to pay the belated penalty. If any person want to file a belated Income tax return (ITR), he will have to choose Section 139(4) while filing income tax return form.
What is Revised Income Tax Return (ITR)?
If any person not able to file his/her ITR till December 31, 2022 then income tax can be file by the revised ITR date. Revised income tax return (ITR) is same as its original ITR. This provision is included in the Section 139(5).
To file your income tax return (ITR) you have to choose section 139(5) in the income tax return form. While filling the ITR you mush have original ITR to get the relevent data.
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