What is last date for filing ITR

ITR or Income Tax Returns is primarily a form submitted to the income tax for a particular financial year, like 2022-2023. Every year, it is mandatory for all the earning Indians to file ITR before the ITR filing last date. After this date, a penalty is charged for late filing of ITR. So, make sure you do not forget the ITR last date.

ITR has detailed information on all the sources of income of an individual. Based on the sources of income, the amount of income, and the type of taxpayer, the taxes are paid by the individual to the income tax department. There are a total of 7 types of ITR forms - 1 to 7. Depending on the amount and nature of income and taxpayer, the particular form is filled. The source of income can be salary, house rent, capital gains, lottery, interest, etc. –

Advance income tax has to be paid by all the Indians who are eligible to pay a minimum of ₹10,000 income tax per year. At the end of the year, if the income tax department finds out that you paid more than you should, the excess tax paid is refunded. To get this refund, you need to file your income tax return. All those people who have an income/earning apart from salary are liable to pay estimated advance tax. Let's take a look at it in detail based on different taxpayers –

Advance tax payment in case of persons not covered under section 44AD or 44ADA of the Income-tax Act, 1961

They are required to make advance tax payment. Here are the specified dates for the same –

• 15th June-15% of the total estimated tax for the financial year
• 15th September-45% of the total estimated tax for the financial year
• 15th December-75% of the total estimated tax for the financial year
• 15th March – 100% of the total estimated tax for the financial year

Advance tax payment in case of persons covered under section 44AD or 44ADA of the Income-tax Act, 1961

They are required to make advance tax payment of their total tax liability by 15th March of the financial year.

The advance income tax can be paid via both online and offline methods. Visit the official website of NSDL or Income Tax Department and submit Challan 280. For the offline method, you need to visit the banks that have been authorized by the Income Tax Department for collecting advance income tax.

Sometimes you may miss and cross the ITR last date. So, what next? What can you possibly do to file the ITR when you forget or miss filing within the due date? Do not worry. You are probably not the only one in this situation. The solution to this problem is the belated return or an updated return.

Belated return ITR filing is for the people who miss filing the ITR within the specified date. The date for Belated ITR is also specified by the government. However, missing out the due date may lead you to pay a certain late fees.