Income Tax Return: Fill ITR for the year 2022-23 as soon as possible; Otherwise a fine will have to be paid; Know the deadline

Income Tax Return: Even if you do not come under the ambit of income tax, be sure to file an ITR. The process of filing income tax returns for 2021-22 and assessment year 2022-23 has started from 15th June 2022. If you have not yet filed your return, file it soon. Because the last date for filing ITR is near.

If you have received Form 16 from your office, fill it up without delay. If you do not pay before the deadline, you may have to pay a penalty. In addition, when more taxpayers file returns on an income tax e-filing website, the burden on the website increases. If you want to avoid the hassle of paying income tax in such a situation, don’t wait for the last minute.

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The last date for filing income tax return for the financial year 2021-22 and assessment year 2022-23 without any late fee is 31st July 2022. If you file an income tax return after maturity, you will have to pay tax interest along with penalty under Section 234A and Section 234F of the Income Tax Act.

The last date for filing income tax returns for individual HUFs is July 31, 2022, while for those in need of audit, the last date for filing income tax returns is October 31, 2022. The last date for filing income tax returns for a business that requires a TP report is November 30, 2022. In that case, if you are filing a personal return, file it early.

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