ITR Filing: The deadline for filing IT returns for the financial year 2022-23 (Assessment Year 2023-24) is 31 July 2023. The Finance Department has no plans to extend the deadline for filing income tax returns.
Deadline For ITR Filing: Such people who file income tax return, but have not completed this work till now, do it immediately, otherwise they may get into trouble. If you are thinking that the Finance Ministry can extend the deadline for filing income tax returns, then there is no such plan of the department. Revenue Secretary Sanjay Malhotra said on Friday that like last year, no proposal is under consideration to extend the deadline for filing ITR this year.
File ITR on time
According to media reports, Revenue Secretary Sanjay Malhotra said, “There is no proposal under consideration and we do not intend to. My advice to all taxpayers is that they should file their tax returns.” On asking the question whether the government is planning to extend the ITR deadline in view of floods and heavy rains in some parts of North India. To this he replied, “There will be no extension in the deadline like last year and the sooner they do it, the better”.
According to the report, Malhotra advised taxpayers to file their income tax returns immediately to avoid last-minute rush. He emphasized that a systematic filing process is beneficial for the IT system.
This was the reason for not extending the deadline
The Revenue Secretary also informed that till July 12, more than 10 million additional tax returns were filed as compared to the same period last year. The total number of returns filed reached nearly 22 million, surpassing the 11.8 million filed till July 12, 2022. Based on this data, he said that there is no apparent need to extend the filing deadline.
According to the report, till July 13, the number of ITRs filed for assessment year 2023-24 (financial year 2022-23) had reached 23.4 million, of which 21.7 million returns were verified. Apart from this, a total of 8.48 million verified ITRs were processed for assessment year 2023-24.
GST deadline
Late filing of income tax return can attract a penalty of up to Rs 5,000. According to the information, due to the floods, a request has been made to extend the deadline by at least one month. According to the report, some tax experts have said that the deadline for filing GST returns is also 31 July 2023.
