Income tax return due date for ay 2022-23

ITR Filing Status 2022 (30th July): The total number of income tax returns filed for AY 2022-23 is 4.52 crores as on 29th July, according to the latest data available on the official Income Tax e-filing website. As many as 3.41 crore returns have been verified by filers while the Tax Department has processed 2.61 crores of verified ITRs. ( The total number of income tax returns filed for AY 2022-23 till 28th July was 4.09 crore. Of these, as many as 3.15 crore returns were verified by filers while the Tax Department had processed 2.41 crores of the verified returns. The total number of income tax returns filed for AY 2022-23 was 3.73 crores as on 27th July. Of these, 2.93 crore returns were verified by filers while the tax department has processed 2.18 crores of verified ITRs.Till 26th July, the total number of income tax returns filed for AY 2022-23 was 3.4 crore and 2.71 crore returns were verified by filers while the tax department had processed 1.97 crores of verified ITRs. New Tax Regime Calculator 2023-24: How much tax you will have to pay on Rs 9 to Rs 15 lakh income According to the Income Tax department, more than 6.63 crores ITRs were filed for AY 2021-2022 till 15th March 2022, including corporates and other taxpayers whose accounts needed to be audited. “Of the total ITRs filed for AY 2021-22, 3.03 crore returns in ITR-1, 57.2 lakh in ITR-2, 1.02 crore in ITR-3, 1.75 crore in ITR-4, 15.1 lakh in ITR-5 9.3 lakh in ITR-6 and 2.18 lakh in ITR-7, according to the T...

For the Assessment Year 2022-23, the due date for furnishing of tax audit report would be as under: Type of Assessee Assessment year Due date of tax audit report Due date for furnishing of ITR Company 2022-23 30-09-2022 31-10-2022 Any other person who is obliged to furnish the tax audit report 2022-23 30-09-2022 31-10-2022 Any person who is subject to the transfer pricing provisions 2022-23 31-10-2022 30-11-2022 Read More About- Due Dates of Compliances in Financial Year 2022-23 (Income-tax) The Chartered Accountant shall file the audit report electronically directly at The date of approval of the report by the taxpayer is considered the date of filing of the Audit Report. If the assessee does not accept/approve, the tax audit report will be considered pending as if it has not been filed. A Chartered Accountant in practice can conduct 60 tax audits relating to an assessment year. The ICAI had clarified that an audit prescribed under any statute which requires the assessee to furnish an audit report in the form as prescribed under Section 44AB of the Income-tax Act shall not be considered for reckoning the specified number of tax audit assignments if the turnover of the auditee is below the turnover limit specified in Section 44AB of the Income-tax Act. The ICAI modified the guidelines on 23-08-2018 to provide that the audits conducted under Sections 44AD, 44ADA, and 44AE (Presumptive Taxation Schemes) shall not be considered for reckoning the ‘specified number of tax audit...

ITR filing: Due date for unaudited income tax return (ITR) filing is gone but those taxpayers who want to edit their return as they have filled some incorrect information in their ITR like use of wrong ITR form, wrong bank account number, etc., they still have an option to do that. As per the revised income tax rules, a taxpayer can revise one's income tax return under Section 139 (5) of the income tax act, 1961. On deadline or last date to file revised income tax return for the assessment year (AY) 2022-23, P_ankaj Mathpal, Founder & CEO at Optima Money Managers said, "An income taxpayer can file a revised ITR prior to three months of completion of the assessment year. Hence, for AY 2022-23, last date to file a revised ITR is 31st December 2022," He said that one can file a revised ITR online by logging in a the income tax e-filing portal — https://www.incometax.gov.in. Here we list out important information in regard to revised ITR filing for AY 2022-23: 1] Eligibility: Those who filed ITR on, before or after 31st July 2022 are eligible for filing a revised ITR. 2] Income tax rule on revised ITR filing: Section 139 (5) of the income tax act allows an income tax payer to revise one's income tax return. 3] Deadline for revised ITR filing: A taxpayer can file a revised income tax return prior to completion of three months of the assessment year. So, in the case of ITR filing for AY 2022-23, last date to file a revised ITR is 31st December 2022. 4] Due dates for ITR filing f...

Income Tax Return Filing for AY 2022-23- Know about deadlines Financial Year 2021-22 has ended and everybody is now waiting for the filing of ITR for the year. Do you know that the Income Tax Department has already notified various ITR forms starting from ITR-1 to ITR-7? Filing of ITR on or before the due date is very important for every taxpayer. This article discusses the deadlines for ITR filing for various assessees including individuals, HUFs, LLPs, firms & companies for the A.Y. 2022-23 (FY 2021-22) What is ITR e filing? Every taxpayer is required to self-assess his/her taxable income for the financial year and file a declaration of such taxable income by way of a return to the Income Tax Department. This return is known as “ Income Tax Return ” (ITR). You are required to submit the ITR online through the portal of the Income Tax Department at https://eportal.incometax.gov.in/ . The online filing of ITR is known as “ ITR e filing ”. What are the due dates of filing ITR for the A.Y. 2022-23? The due dates for income tax return filing are different for various categories of taxpayers. You should also be aware that the ITR forms for each category of taxpayers are different. The Income Tax Department has prescribed 7 forms for filing ITR. You should efile income tax return using the correct form on or before the due date prescribed by the Income Tax department. Due dates of filing ITR for Companies AY 2022-23 • The due date of filing ITR is generally 31 st July 2022 for ...

Who need to file Income Tax Return? As Per Section 139 of Income Tax Act, It is mandatory to file an ITR in the following circumstances: – ♦ In case of Individuals, If your Gross Total Income (i.e., Income before allowing any deductions under Section 80C to 80U) exceeds Age of the Assessee Tax Slab Aged up to 60 years 2.5 Lakh Aged above 60 but less than 80 years (Senior Citizen) 3 Lakh Aged above 80 years (Super Senior Citizen) 5 Lakh ♦ In case of HUFs/AOPs/BOIs & Artificial Judicial Persons if your gross total income (i.e., Income before allowing any deductions under Section 80C to 80U) exceeds Rs 2.5 lakh in FY 2021-22 (AY22-23) ♦ In Case of Company or a Firm, irrespective of whether you have income or loss during the financial year. ♦ You want to claim an income tax refund. ♦ You want to carry forward a loss under a head of income. ♦ If you are a resident individual and have an asset or financial interest in an entity located outside India. (Not applicable to NRIs or RNORs). ♦ If you are a resident and a signing authority in a foreign account. (Not applicable to NRIs or RNORs). ♦ In case you are in receipt of income derived from property held under a trust for charitable or religious purposes, or a political party or a research association, news agency, educational or medical institution, trade union, a not- for- profit university or educational institution, a hospital, infrastructure debt fund, any authority, body, or trust. ♦ If you are a foreign company taking treat...

Claire Hardwick, USA TODAY June 15 is this week, which means if you don’t have taxes taken out regularly from your paycheck, you need to write Uncle Sam a check soon. America’s taxes are pay-as-you-go, so you must pay most of your tax during the year as you receive income, rather than paying at the end of the year. There are two ways to pay tax: withholding taxes from your pay, your pension, or certain government payments, such as Social Security, or making quarterly estimated tax payments during the year. The first payment covering Jan. 1 through March 31 was conveniently due on the tax deadline, If you don’t make timely payments, you'll be penalized and end up paying more. But how do you know how much you need to pay and if you even must pay? This guide will break it down for you and give you tips to make sure you’re following the law: Who must pay quarterly estimated taxes? Who pays? Usually, it's Even if you have taxes withheld from your paycheck, taxes also must be paid on income that’s generally not subject to withholding such as interest, dividends, capital gains, alimony and rental income. A rule of thumb to know if you must file quarterly individual estimated tax payments is if the following apply, according to the IRS: ◾ You expect to owe at least $1,000 in tax for the current year after subtracting your withholding and refundable credits. ◾ You expect your withholding and refundable credits to be less than the smaller of: 90% of the tax to be shown on your curre...

Who need to file Income Tax Return? As Per Section 139 of Income Tax Act, It is mandatory to file an ITR in the following circumstances: – ♦ In case of Individuals, If your Gross Total Income (i.e., Income before allowing any deductions under Section 80C to 80U) exceeds Age of the Assessee Tax Slab Aged up to 60 years 2.5 Lakh Aged above 60 but less than 80 years (Senior Citizen) 3 Lakh Aged above 80 years (Super Senior Citizen) 5 Lakh ♦ In case of HUFs/AOPs/BOIs & Artificial Judicial Persons if your gross total income (i.e., Income before allowing any deductions under Section 80C to 80U) exceeds Rs 2.5 lakh in FY 2021-22 (AY22-23) ♦ In Case of Company or a Firm, irrespective of whether you have income or loss during the financial year. ♦ You want to claim an income tax refund. ♦ You want to carry forward a loss under a head of income. ♦ If you are a resident individual and have an asset or financial interest in an entity located outside India. (Not applicable to NRIs or RNORs). ♦ If you are a resident and a signing authority in a foreign account. (Not applicable to NRIs or RNORs). ♦ In case you are in receipt of income derived from property held under a trust for charitable or religious purposes, or a political party or a research association, news agency, educational or medical institution, trade union, a not- for- profit university or educational institution, a hospital, infrastructure debt fund, any authority, body, or trust. ♦ If you are a foreign company taking treat...

ITR filing: Due date for unaudited income tax return (ITR) filing is gone but those taxpayers who want to edit their return as they have filled some incorrect information in their ITR like use of wrong ITR form, wrong bank account number, etc., they still have an option to do that. As per the revised income tax rules, a taxpayer can revise one's income tax return under Section 139 (5) of the income tax act, 1961. On deadline or last date to file revised income tax return for the assessment year (AY) 2022-23, P_ankaj Mathpal, Founder & CEO at Optima Money Managers said, "An income taxpayer can file a revised ITR prior to three months of completion of the assessment year. Hence, for AY 2022-23, last date to file a revised ITR is 31st December 2022," He said that one can file a revised ITR online by logging in a the income tax e-filing portal — https://www.incometax.gov.in. Here we list out important information in regard to revised ITR filing for AY 2022-23: 1] Eligibility: Those who filed ITR on, before or after 31st July 2022 are eligible for filing a revised ITR. 2] Income tax rule on revised ITR filing: Section 139 (5) of the income tax act allows an income tax payer to revise one's income tax return. 3] Deadline for revised ITR filing: A taxpayer can file a revised income tax return prior to completion of three months of the assessment year. So, in the case of ITR filing for AY 2022-23, last date to file a revised ITR is 31st December 2022. 4] Due dates for ITR filing f...

Income Tax Return Filing for AY 2022-23- Know about deadlines Financial Year 2021-22 has ended and everybody is now waiting for the filing of ITR for the year. Do you know that the Income Tax Department has already notified various ITR forms starting from ITR-1 to ITR-7? Filing of ITR on or before the due date is very important for every taxpayer. This article discusses the deadlines for ITR filing for various assessees including individuals, HUFs, LLPs, firms & companies for the A.Y. 2022-23 (FY 2021-22) What is ITR e filing? Every taxpayer is required to self-assess his/her taxable income for the financial year and file a declaration of such taxable income by way of a return to the Income Tax Department. This return is known as “ Income Tax Return ” (ITR). You are required to submit the ITR online through the portal of the Income Tax Department at https://eportal.incometax.gov.in/ . The online filing of ITR is known as “ ITR e filing ”. What are the due dates of filing ITR for the A.Y. 2022-23? The due dates for income tax return filing are different for various categories of taxpayers. You should also be aware that the ITR forms for each category of taxpayers are different. The Income Tax Department has prescribed 7 forms for filing ITR. You should efile income tax return using the correct form on or before the due date prescribed by the Income Tax department. Due dates of filing ITR for Companies AY 2022-23 • The due date of filing ITR is generally 31 st July 2022 for ...

For the Assessment Year 2022-23, the due date for furnishing of tax audit report would be as under: Type of Assessee Assessment year Due date of tax audit report Due date for furnishing of ITR Company 2022-23 30-09-2022 31-10-2022 Any other person who is obliged to furnish the tax audit report 2022-23 30-09-2022 31-10-2022 Any person who is subject to the transfer pricing provisions 2022-23 31-10-2022 30-11-2022 Read More About- Due Dates of Compliances in Financial Year 2022-23 (Income-tax) The Chartered Accountant shall file the audit report electronically directly at The date of approval of the report by the taxpayer is considered the date of filing of the Audit Report. If the assessee does not accept/approve, the tax audit report will be considered pending as if it has not been filed. A Chartered Accountant in practice can conduct 60 tax audits relating to an assessment year. The ICAI had clarified that an audit prescribed under any statute which requires the assessee to furnish an audit report in the form as prescribed under Section 44AB of the Income-tax Act shall not be considered for reckoning the specified number of tax audit assignments if the turnover of the auditee is below the turnover limit specified in Section 44AB of the Income-tax Act. The ICAI modified the guidelines on 23-08-2018 to provide that the audits conducted under Sections 44AD, 44ADA, and 44AE (Presumptive Taxation Schemes) shall not be considered for reckoning the ‘specified number of tax audit...