Income tax e filing last date 2022 23

The Indian income tax department has reduced the average time taken to issue refunds and expedited the processing of returns thanks to technological advancements, according to Chairman Nitin Gupta. Around 80% of refunds were issued during the first 30 days of filing during the 2022-23 fiscal year, up from 60% the preceding year, Gupta said. 02 Jun, 2023, 06:44 PM IST Similar to the income tax return (ITR) filing deadline, there is a deadline to file a TDS return as well. It is important to note that missing the TDS return filing due date has monetary consequences. TDS return is filed by the person who has paid income to another person. 02 Jun, 2023, 12:18 PM IST A salaried individual can file his/her income tax return either using ITR-1 or ITR-2. However, to know which ITR form is applicable to you, one must know all the sources of income during the financial year. Filing ITR using an incorrect ITR form will lead to defective ITR filing. Know how to know which form is applicable to you. 02 Jun, 2023, 10:57 AM IST Equities could break the June curse by making positive returns based on sustained inflows from foreign institutional investors, say experts. Despite historical data showing that six times in the past decade the stock market has delivered negative returns in June, the country has had a good three-month run, causing money managers to gain confidence. With $8bn in foreign portfolio investments, coupled with continued inflows thanks to the fact that India is surging a...

• Log In Required • • Positions Log In Required • Positions • Log In Required • • Log In Required • • • • Log In Required • • Log In Required • • Log In Required • • Log In Required • • Log In Required • • Log In Required • • Log In Required • • Log In Required • Log In Required • Log In Required • Log In Required • Line of Credit Log In Required • • Send Important legal information about the email you will be sending. By using this service, you agree to input your real email address and only send it to people you know. It is a violation of law in some juristictions to falsely identify yourself in an email. All information you provide will be used solely for the purpose of sending the email on your behalf. The subject line of the email you send will be “Fidelity.com”. • Federal taxes on income earned in 2022 are due on April 18, 2023. • If you file for an extension, you have until October 16, 2023, to file your return, but you still must pay any taxes you owe by April 18, 2023. • If you pay quarterly estimated taxes, payments are due on April 18, 2023; June 15, 2023; September 15, 2023; and January 16, 2024. When are taxes due? The deadline to file your federal tax return and pay any federal income taxes you owe is Tuesday, April 18, 2023. The due date is pushed from the traditional April 15 deadline because that day falls on a weekend. Then it's pushed one day further because Washington, DC, observes Emancipation Day (April 16) on the following Monday, April 17. If you do...

The due date of Income Tax Return filing for Assessment Year 2022-23 ended yesterday. More than 5.8 crore returns were filed till July 31, which was the Taxpayers, who missed filing their ITRs by 31 July, can now file belated returns. However, belated ITR filing comes at a cost. Here are all details you need to know about belated ITR filing for AY 2022-23. New Tax Regime Calculator 2023-24: How much tax you will have to pay on Rs 9 to Rs 15 lakh income Belated ITR filing penalty According to the Income Tax rules, the penalty for belated ITR filing could be up to Rs 5,000. However, for taxpayers whose total income is not more than Rs 5 lakh in a financial year, the maximum penalty for the delay is Rs 1000. Late filing leads to interest under Section 234A, late filing fees under Section 234F, etc. Moreover, set off and carry forward of losses (except house property loss) and claiming certain deductions under Chapter VI-A will not be allowed in case of belated ITR filing. “We should never delay the filing of the income tax return. The first major consequence of late filing is penalty. One needs to pay a penalty for filing a belated return. Secondly, if there is tax to be paid, you will be charged interest @1% per month after the end of the due date till you pay taxes and file ITR. Thirdly, one cannot carry forward losses. Lastly, late filing of ITR will result in late processing and your refund, if any, will get further delayed,” says Sujit Bangar, Founder,of Taxbbuddy. “If y...

As a taxpayer in India, it is important to be aware of the various deadlines related to the filing of Income Tax Returns (ITR). After reading this post, you will know all about the due date for filing ITR. The last date to file Income Tax Return (ITR) for FY 2021-22 (AY 2022-23) without a late fee was 31st July 2022. If a taxpayer fails to file their returns by the due date, they have to pay a penalty as well as interest under the Income Tax Act. Here are the Infographics Showing Due Dates for Income Earned in Financial Year 2022-23: Financial Year Vs Assessment Year Before moving on let’s quickly check out the Difference between Financial Year (FY) and Assessment Year (AY)- Example as above- If you earn income from April 2022 to March 2023 then 2022-23- Financial Year (Income earned) 2023-24– Assessment Year (Tax paid on previous year’s income i.e. 2022-23) ITR Filing Due Dates for AY 2022-23 (FY 2021-22) Due dates for Income earned from April 2021 to March 2022 are as follows: Types of Taxpayers Due Dates Individual / HUF/ AOP/ BOI (Audit Not Required) 31st July 2022 Taxpayers (Audit Required) 31st October 2022 Transfer Pricing Report Filing 30th November 2022 Belated Return and Revised Return 31st December 2022 ITR Filing Due Dates for AY 2023-24 (FY 2022-23) Due dates for Income earned from April 2022 to March 2023 will be as follows: Types of Taxpayers Due Dates Individual / HUF/ AOP/ BOI (Audit Not Required) 31st July 2023 Taxpayers (Audit Required) 31st October 2023...

The last date to file While filing ITR for FY 2022-23, an individual needs to calculate the total incomes earned by him from different sources between April 1, 2022 and March 31, 2023. An individual earns income from various sources such as salary, interest income, dividends, capital gains from selling an asset, income from profession, businesses etc. To calculate the tax payable on the incomes earned between April 1, 2022 and March 31, 2023, an individual will refer to the incomes tax slabs that were applicable for FY 2022-23. Do note that Budget 2023 has announced new income tax slabs under the new tax regime. However, those income tax slabs are applicable for FY 2023-24, i.e., for incomes earned between April 1, 2023 and March 31, 2024. The new income tax slabs under the new tax regime will be used currently for tax saving and next year at the time of filing ITR. For individuals below 60 years of age, the exemption limit is up to Rs 2.5 lakh irrespective of whether you opt for new income tax regime or old one for FY 2022-23. If the total income exceeds Rs 2.5 lakh, then you have to mandatorily file ITR. For senior citizens and super senior citizens, the basic exemption limit is Rs 3 lakh and Rs 5 lakh, respectively, under the old tax regime. After collecting all the required documents, you must select the ITR form which is applicable to your income sources. After that you can file your income tax return online on the new e-filing income tax portal. After filing the ITR,...

As a taxpayer in India, it is important to be aware of the various deadlines related to the filing of Income Tax Returns (ITR). After reading this post, you will know all about the due date for filing ITR. The last date to file Income Tax Return (ITR) for FY 2021-22 (AY 2022-23) without a late fee was 31st July 2022. If a taxpayer fails to file their returns by the due date, they have to pay a penalty as well as interest under the Income Tax Act. Here are the Infographics Showing Due Dates for Income Earned in Financial Year 2022-23: Financial Year Vs Assessment Year Before moving on let’s quickly check out the Difference between Financial Year (FY) and Assessment Year (AY)- Example as above- If you earn income from April 2022 to March 2023 then 2022-23- Financial Year (Income earned) 2023-24– Assessment Year (Tax paid on previous year’s income i.e. 2022-23) ITR Filing Due Dates for AY 2022-23 (FY 2021-22) Due dates for Income earned from April 2021 to March 2022 are as follows: Types of Taxpayers Due Dates Individual / HUF/ AOP/ BOI (Audit Not Required) 31st July 2022 Taxpayers (Audit Required) 31st October 2022 Transfer Pricing Report Filing 30th November 2022 Belated Return and Revised Return 31st December 2022 ITR Filing Due Dates for AY 2023-24 (FY 2022-23) Due dates for Income earned from April 2022 to March 2023 will be as follows: Types of Taxpayers Due Dates Individual / HUF/ AOP/ BOI (Audit Not Required) 31st July 2023 Taxpayers (Audit Required) 31st October 2023...

• Log In Required • • Positions Log In Required • Positions • Log In Required • • Log In Required • • • • Log In Required • • Log In Required • • Log In Required • • Log In Required • • Log In Required • • Log In Required • • Log In Required • • Log In Required • Log In Required • Log In Required • Log In Required • Line of Credit Log In Required • • Send Important legal information about the email you will be sending. By using this service, you agree to input your real email address and only send it to people you know. It is a violation of law in some juristictions to falsely identify yourself in an email. All information you provide will be used solely for the purpose of sending the email on your behalf. The subject line of the email you send will be “Fidelity.com”. • Federal taxes on income earned in 2022 are due on April 18, 2023. • If you file for an extension, you have until October 16, 2023, to file your return, but you still must pay any taxes you owe by April 18, 2023. • If you pay quarterly estimated taxes, payments are due on April 18, 2023; June 15, 2023; September 15, 2023; and January 16, 2024. When are taxes due? The deadline to file your federal tax return and pay any federal income taxes you owe is Tuesday, April 18, 2023. The due date is pushed from the traditional April 15 deadline because that day falls on a weekend. Then it's pushed one day further because Washington, DC, observes Emancipation Day (April 16) on the following Monday, April 17. If you do...

The due date of Income Tax Return filing for Assessment Year 2022-23 ended yesterday. More than 5.8 crore returns were filed till July 31, which was the Taxpayers, who missed filing their ITRs by 31 July, can now file belated returns. However, belated ITR filing comes at a cost. Here are all details you need to know about belated ITR filing for AY 2022-23. Your queries: Income Tax; Chosen new tax regime? You can continue with PPF Belated ITR filing penalty According to the Income Tax rules, the penalty for belated ITR filing could be up to Rs 5,000. However, for taxpayers whose total income is not more than Rs 5 lakh in a financial year, the maximum penalty for the delay is Rs 1000. Late filing leads to interest under Section 234A, late filing fees under Section 234F, etc. Moreover, set off and carry forward of losses (except house property loss) and claiming certain deductions under Chapter VI-A will not be allowed in case of belated ITR filing. “We should never delay the filing of the income tax return. The first major consequence of late filing is penalty. One needs to pay a penalty for filing a belated return. Secondly, if there is tax to be paid, you will be charged interest @1% per month after the end of the due date till you pay taxes and file ITR. Thirdly, one cannot carry forward losses. Lastly, late filing of ITR will result in late processing and your refund, if any, will get further delayed,” says Sujit Bangar, Founder,of Taxbbuddy. “If you miss filing your ret...

The Indian income tax department has reduced the average time taken to issue refunds and expedited the processing of returns thanks to technological advancements, according to Chairman Nitin Gupta. Around 80% of refunds were issued during the first 30 days of filing during the 2022-23 fiscal year, up from 60% the preceding year, Gupta said. 02 Jun, 2023, 06:44 PM IST Similar to the income tax return (ITR) filing deadline, there is a deadline to file a TDS return as well. It is important to note that missing the TDS return filing due date has monetary consequences. TDS return is filed by the person who has paid income to another person. 02 Jun, 2023, 12:18 PM IST A salaried individual can file his/her income tax return either using ITR-1 or ITR-2. However, to know which ITR form is applicable to you, one must know all the sources of income during the financial year. Filing ITR using an incorrect ITR form will lead to defective ITR filing. Know how to know which form is applicable to you. 02 Jun, 2023, 10:57 AM IST Equities could break the June curse by making positive returns based on sustained inflows from foreign institutional investors, say experts. Despite historical data showing that six times in the past decade the stock market has delivered negative returns in June, the country has had a good three-month run, causing money managers to gain confidence. With $8bn in foreign portfolio investments, coupled with continued inflows thanks to the fact that India is surging a...

The last date to file While filing ITR for FY 2022-23, an individual needs to calculate the total incomes earned by him from different sources between April 1, 2022 and March 31, 2023. An individual earns income from various sources such as salary, interest income, dividends, capital gains from selling an asset, income from profession, businesses etc. To calculate the tax payable on the incomes earned between April 1, 2022 and March 31, 2023, an individual will refer to the incomes tax slabs that were applicable for FY 2022-23. Do note that Budget 2023 has announced new income tax slabs under the new tax regime. However, those income tax slabs are applicable for FY 2023-24, i.e., for incomes earned between April 1, 2023 and March 31, 2024. The new income tax slabs under the new tax regime will be used currently for tax saving and next year at the time of filing ITR. For individuals below 60 years of age, the exemption limit is up to Rs 2.5 lakh irrespective of whether you opt for new income tax regime or old one for FY 2022-23. If the total income exceeds Rs 2.5 lakh, then you have to mandatorily file ITR. For senior citizens and super senior citizens, the basic exemption limit is Rs 3 lakh and Rs 5 lakh, respectively, under the old tax regime. After collecting all the required documents, you must select the ITR form which is applicable to your income sources. After that you can file your income tax return online on the new e-filing income tax portal. After filing the ITR,...