Remember Your ITR
There are a few important dates for the financial year 2022-23 that you must remember. See-through all the dates to avoid penalties and fines.
| Category of Taxpayer | Due Date for Tax Filing-
FY 2021-22 * (unless extended) |
| Individual / HUF/ AOP/ BOI
(books of accounts not required to be audited) |
31st July 2022 |
| Businesses (Requiring Audit) | 31st October 2022 |
| Businesses (Requiring TP Report) | 30th November 2022 |
| Due Date | Tax Due |
| 15th June 2022 | The first instalment of advance tax for the fiscal year 2022-23 is due on this day. |
| 15th July 2022 | Individuals and companies that are not subject to a tax audit and have not engaged in any foreign or defined domestic transaction must file income tax returns for the fiscal year 2021-22. |
| 15th September 2022 | The second installment of advance tax for the Fiscal Year 2022-23 |
| 30th September 2022 | Submission of the audit report (Section 44AB) for AY 2022-23 for taxpayers liable for audit under the Income Tax Act. |
| 31st October 2022 | ITR filing for taxpayers requiring audit (not having international or specified domestic transactions). |
| 31st October 2022 | Submission of the audit report for AY 2022-23 for taxpayers with transfer pricing and defined domestic transactions |
| 30th November 2022 | ITR filing for audited taxpayers (not having international or specified domestic transactions). |
| 15th December 2022 | The third installment of advance tax for the Fiscal Year 2022-23 |
| 31st December 2022 | Last day to file a belated or amended return for fiscal year 2021-22. |
| 15th March 2023 | i. The fourth installment of advance tax is due for the FY 2022-23
ii. The due date for the whole amount of advance tax for FY 2020-21 for taxpayers covered under the presumptive scheme of Section 44AD and 44ADA |
What if you missed filing your ITR?
If the initial due date for submitting an income tax return is missed, a belated return can be filed later beyond the due date. The income tax department also sets the date by which the late return must be filed. This deadline has been pushed back three months to December 31st of the assessment year (unless extended by the government).
However, if the return is not filed on time, a penalty of Rs 5,000 would be imposed. Moreover, if the person’s total income is less than Rs 5 lakh, the cost is only Rs 1,000.