Itr filing last date for ay 2022-23

Circular no 20/2022, dated 26-10-2022 In consideration of difficulties faced by the taxpayers and other stakeholders in the electronic filing of various reports of audit, the Central Board of Direct Taxes (CBDT) vide Circular No. 19/2022 dated 30-09-2022, had extended the due date for filing of the audit report for the Assessment Year 2022-23 in the case of a corporate assessee or non-corporate assessee (other than those covered under Section 92E) from September 30, 2022, to October 07, 2022. Author: Taxmann Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava. The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content: • The statutory material is obtained only from the authorized and reliable sources • All the latest developments in the judicial and legislative fields are covered • Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications • Every content published by Taxmann is complete, accurate and lucid • A...

To start the process of filing ITR, you must first ascertain whether your total income (before claiming any deductions) exceeds the exemption limit. For individuals below 60 years of age, the exemption limit is up to Rs 2.5 lakh irrespective of whether you opt for a new income tax regime or an old one. If the total income exceeds Rs 2.5 lakh, then you have to mandatorily file ITR. The next step would be to collect the required documents for ITR filing. This includes various TDS certificates such as Form 16 (from your employer), Form 16A (from banks), interest certificates, capital gains statements, etc.

If not filed yet, forget filing your Income Tax Return (ITR) till March 31, 2023 by paying a double fine after December 31, 2022, as the government has decided to reduce the span of an Assessment Year (AY) down from 12 months to 9 months for return filing purposes. Incidentally, December 31, 2021 was the extended due date for the last assessment year (AY 2021-22) for non-audit cases, while in the current assessment year (AY 2022-23), tax filings will end abruptly on December 31, 2022 itself – that is 3 months before the end of the AY on March 31, 2023. Can you change tax regime while filing Income Tax Return (ITR)? “The due date of furnishing of Individual Income-tax Return (other than those subject to tax audit) for the Financial Year (FY) 2020-21 (Assessment Year 2021-22), which was July 31, 2021 was initially extended to September 30, 2021 and thereafter was further extended to December 31, 2021. As per Circular no 17/2021, the reason for such extension provided to taxpayers was on account of the pandemic, difficulties reported by taxpayers and other stakeholders in electronic filing of income-tax returns due to technical glitches,” said Dr. Suresh Surana, Founder, RSM India. “However, it is notable that the due date for furnishing the revised return and belated return for FY 2020-21 was also December 31, 2021 and it was for similar reasons (of technical glitches) extended by circular no 17/2021 to March 31, 2022. Please note that the original timeline for filing the be...

If not filed yet, forget filing your Income Tax Return (ITR) till March 31, 2023 by paying a double fine after December 31, 2022, as the government has decided to reduce the span of an Assessment Year (AY) down from 12 months to 9 months for return filing purposes. Incidentally, December 31, 2021 was the extended due date for the last assessment year (AY 2021-22) for non-audit cases, while in the current assessment year (AY 2022-23), tax filings will end abruptly on December 31, 2022 itself – that is 3 months before the end of the AY on March 31, 2023. Income Tax Return (ITR) filing online for Assessment Year (2023-24 with .Json files: Check steps “The due date of furnishing of Individual Income-tax Return (other than those subject to tax audit) for the Financial Year (FY) 2020-21 (Assessment Year 2021-22), which was July 31, 2021 was initially extended to September 30, 2021 and thereafter was further extended to December 31, 2021. As per Circular no 17/2021, the reason for such extension provided to taxpayers was on account of the pandemic, difficulties reported by taxpayers and other stakeholders in electronic filing of income-tax returns due to technical glitches,” said Dr. Suresh Surana, Founder, RSM India. “However, it is notable that the due date for furnishing the revised return and belated return for FY 2020-21 was also December 31, 2021 and it was for similar reasons (of technical glitches) extended by circular no 17/2021 to March 31, 2022. Please note that the or...

Circular no 20/2022, dated 26-10-2022 In consideration of difficulties faced by the taxpayers and other stakeholders in the electronic filing of various reports of audit, the Central Board of Direct Taxes (CBDT) vide Circular No. 19/2022 dated 30-09-2022, had extended the due date for filing of the audit report for the Assessment Year 2022-23 in the case of a corporate assessee or non-corporate assessee (other than those covered under Section 92E) from September 30, 2022, to October 07, 2022. Author: Taxmann Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava. The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content: • The statutory material is obtained only from the authorized and reliable sources • All the latest developments in the judicial and legislative fields are covered • Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications • Every content published by Taxmann is complete, accurate and lucid • A...

To start the process of filing ITR, you must first ascertain whether your total income (before claiming any deductions) exceeds the exemption limit. For individuals below 60 years of age, the exemption limit is up to Rs 2.5 lakh irrespective of whether you opt for a new income tax regime or an old one. If the total income exceeds Rs 2.5 lakh, then you have to mandatorily file ITR. The next step would be to collect the required documents for ITR filing. This includes various TDS certificates such as Form 16 (from your employer), Form 16A (from banks), interest certificates, capital gains statements, etc.

Circular no 20/2022, dated 26-10-2022 In consideration of difficulties faced by the taxpayers and other stakeholders in the electronic filing of various reports of audit, the Central Board of Direct Taxes (CBDT) vide Circular No. 19/2022 dated 30-09-2022, had extended the due date for filing of the audit report for the Assessment Year 2022-23 in the case of a corporate assessee or non-corporate assessee (other than those covered under Section 92E) from September 30, 2022, to October 07, 2022. Author: Taxmann Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava. The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content: • The statutory material is obtained only from the authorized and reliable sources • All the latest developments in the judicial and legislative fields are covered • Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications • Every content published by Taxmann is complete, accurate and lucid • A...

If not filed yet, forget filing your Income Tax Return (ITR) till March 31, 2023 by paying a double fine after December 31, 2022, as the government has decided to reduce the span of an Assessment Year (AY) down from 12 months to 9 months for return filing purposes. Incidentally, December 31, 2021 was the extended due date for the last assessment year (AY 2021-22) for non-audit cases, while in the current assessment year (AY 2022-23), tax filings will end abruptly on December 31, 2022 itself – that is 3 months before the end of the AY on March 31, 2023. Income Tax Return (ITR) filing online for Assessment Year (2023-24 with .Json files: Check steps “The due date of furnishing of Individual Income-tax Return (other than those subject to tax audit) for the Financial Year (FY) 2020-21 (Assessment Year 2021-22), which was July 31, 2021 was initially extended to September 30, 2021 and thereafter was further extended to December 31, 2021. As per Circular no 17/2021, the reason for such extension provided to taxpayers was on account of the pandemic, difficulties reported by taxpayers and other stakeholders in electronic filing of income-tax returns due to technical glitches,” said Dr. Suresh Surana, Founder, RSM India. “However, it is notable that the due date for furnishing the revised return and belated return for FY 2020-21 was also December 31, 2021 and it was for similar reasons (of technical glitches) extended by circular no 17/2021 to March 31, 2022. Please note that the or...

To start the process of filing ITR, you must first ascertain whether your total income (before claiming any deductions) exceeds the exemption limit. For individuals below 60 years of age, the exemption limit is up to Rs 2.5 lakh irrespective of whether you opt for a new income tax regime or an old one. If the total income exceeds Rs 2.5 lakh, then you have to mandatorily file ITR. The next step would be to collect the required documents for ITR filing. This includes various TDS certificates such as Form 16 (from your employer), Form 16A (from banks), interest certificates, capital gains statements, etc.