ITR filing due date tomorrow for AY 2022-23. How much fine for missing deadline

On Monday, the Income Tax Department said that over 3 crore returns have been filed through e-filing portal for the financial year 2021-22.

Updated on: Jul 30, 2022, 08:28:18 IST

By HT News Desk

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It's that time of the year again. The time to file Income Tax Return (ITR) for Assessment Year 2022-23. And the government is not considering extending the last date for filing income tax returns as it expects most returns to come in by July 31 deadline, reported PTI citing revenue secretary Tarun Bajaj.

Over the last two financial years, the government had extended the deadline for filing ITRs to ease compliance for taxpayers battling covid pandemic.

On Monday, the Income Tax Department said that over 3 crore returns have been filed through e-filing portal for the financial year 2021-22. For AY 2021-22, about 5.89 crore ITRs were filed by the extended due date of December 31, 2021.

"People thought the routine now is that dates will be extended. So they were a little slow in filling the returns initially but now on a daily basis, we are getting between 15 lakhs to 18 lakh returns. This will slightly go up to 25 lakh to 30 lakh returns," PTI quoted Bajaj as saying.

"Last time 9-10 per cent filed on last day. Last time, we had over 50 lakh (filing returns on the last date). This time, I have told my people to be ready for 1 crore (returns being filed on the last day)," he added.

July 31 is due date for filing ITRs by individual taxpayers who do not need to get their accounts audited.

“Dear taxpayers, Do remember to file your ITR if you haven't filed yet. The due date to file ITR for AY 2022-23 is 31st July, 2022,” the Income Tax department said in a tweet.

What is the penalty for missing the deadline?

Those who will miss the July 31 deadline for filing the ITR have to pay fine-cum-late fee of ₹5,000 if their taxable income is more than ₹5 lakh, and ₹1,000 if the taxable income is less than ₹5 lakh.

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