Due Date for Filing Income Tax Return (ITR) & Penalty for Delay

PY, FY & AY

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Due Dates for Filing Income Tax Returns (ITR)

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Individuals / Assessee whose accounts are not required to be audited (individuals, HUFs, AOP, BOI etc.) Due Date: 31st July 2022

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Any Individuals / Assessee whose accounts are required to be audited. Due Date: 31st October 2022

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Taxpayer who is required to furnish report under section 92E. Due Date: 30th November 2022

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Penalty for Delay in Filing Income Tax Return (ITR) under section 234F of the Income Tax Act

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Over Rs. 5 lakhs

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The penalty for taxpayers with income above Rs. 5 lakhs increases to Rs. 10,000 if ITR is not filed before 31st Dec 2022.

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Due Date for Filing Income Tax Return (ITR) & Penalty for Delay

PY, FY & AY

PY or Previous Year is also known as Financial Year (FY) is the year in which income is earned and AY refers to Assessment Year is the year in which income is assessed.

Due Dates for Filing Income Tax Returns (ITR)

Individuals / Assessee whose accounts are not required to be audited (individuals, HUFs, AOP, BOI etc.) Due Date: 31st July 2022

Taxpayer Type - 1

Any Individuals / Assessee whose accounts are required to be audited. Due Date: 31st October 2022

Taxpayer Type - 2

Taxpayer who is required to furnish report under section 92E. Due Date: 30th November 2022

Taxpayer Type - 3

Penalty for Delay in Filing Income Tax Return (ITR) under section 234F of the Income Tax Act

Over Rs. 5 lakhs

Rs.5,000

Less than Rs. 5 lakhs

Penalty

Rs.1,000

Income Amount

The penalty for taxpayers with income above Rs. 5 lakhs increases to Rs. 10,000 if ITR is not filed before 31st Dec 2022.

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