Income tax return last date extension 2022

Last date for filing annual income tax returns for corporate entities is December 30, 2022. By this deadline the companies have financial year ending June 30 are required to file their annual returns. However, companies having other financial year, individuals and association of persons (AOPs) are required to file their returns by December 15, 2022, which is already extended three times. Every year September 30 is the last date for filing income tax returns for business individuals, salaried persons, AOPs and companies having special year. However, for tax year 2022 the Federal Board of Revenue (FBR) has already extended date for return filing first up to October 2022, then November 30, 2022 and latest up to December 15, 2022. Section 18 of Income Tax Ordinance, 2001 updated up to June 30, 2022 explained the method of furnishing returns and other documents. Following is the text of the Section: Section 118. Method of furnishing returns and other documents. — (1) A return of income under section 114, a wealth statement under section 116 or a foreign income and assets statement under 116A, if applicable shall be furnished in the prescribed manner. (2) A return of income under section 114 of a company shall be furnished — (a) in the case of a company with a tax year ending any time between the first day of January and the thirtieth day of June, on or before the thirty-first day of December next following the end of the tax year to which the return relates; or (b) in any other...

ITR Filing Last Date 2022: As the Income Tax Return (ITR) Filing Last Date for AY 2022-2023 comes close, tax professionals and several other taxpayers have been urging the Government to extend the due date using “#Extend_Due_Date_Immediately” on Twitter for the last many days. Till now, more than 25,000 tweets with this hashtag have been posted on the social media platform. The last date to file ITR for salaried individuals and HUFs whose accounts don’t need to be audited is 31st July. Till now, more than 3.73 crore ITRs have been filed, according to the latest data on the Income Tax website. ( New Tax Regime Calculator 2023-24: How much tax you will have to pay on Rs 9 to Rs 15 lakh income Chartered accountants and tax professionals have pointed out on Twitter that the number of ITRs filed this year till now is less. A large number of taxpayers may end up paying a late filing penalty if the ITR filing last date is not extended. Will ITR filing last date be extended this year? There is no indication from the Government about ITR filing last date extension till now. It is expected that there won’t be any extended deadline for return filing this year. Earlier, Union Revenue Secretary Also Read | Tax experts say that the new Income Tax portal is still facing minor technical lag issues, often due to irregular traffic. Therefore any extension of the ITR deadline will depend on how the new e-filing portal handles the web traffic pressure in the run-up to the due date. “The ITR f...

Last date for filing annual income tax returns for corporate entities is December 30, 2022. By this deadline the companies have financial year ending June 30 are required to file their annual returns. However, companies having other financial year, individuals and association of persons (AOPs) are required to file their returns by December 15, 2022, which is already extended three times. Every year September 30 is the last date for filing income tax returns for business individuals, salaried persons, AOPs and companies having special year. However, for tax year 2022 the Federal Board of Revenue (FBR) has already extended date for return filing first up to October 2022, then November 30, 2022 and latest up to December 15, 2022. Section 18 of Income Tax Ordinance, 2001 updated up to June 30, 2022 explained the method of furnishing returns and other documents. Following is the text of the Section: Section 118. Method of furnishing returns and other documents. — (1) A return of income under section 114, a wealth statement under section 116 or a foreign income and assets statement under 116A, if applicable shall be furnished in the prescribed manner. (2) A return of income under section 114 of a company shall be furnished — (a) in the case of a company with a tax year ending any time between the first day of January and the thirtieth day of June, on or before the thirty-first day of December next following the end of the tax year to which the return relates; or (b) in any other...

ITR Filing Last Date 2022: As the Income Tax Return (ITR) Filing Last Date for AY 2022-2023 comes close, tax professionals and several other taxpayers have been urging the Government to extend the due date using “#Extend_Due_Date_Immediately” on Twitter for the last many days. Till now, more than 25,000 tweets with this hashtag have been posted on the social media platform. The last date to file ITR for salaried individuals and HUFs whose accounts don’t need to be audited is 31st July. Till now, more than 3.73 crore ITRs have been filed, according to the latest data on the Income Tax website. ( New Tax Regime Calculator 2023-24: How much tax you will have to pay on Rs 9 to Rs 15 lakh income Chartered accountants and tax professionals have pointed out on Twitter that the number of ITRs filed this year till now is less. A large number of taxpayers may end up paying a late filing penalty if the ITR filing last date is not extended. Will ITR filing last date be extended this year? There is no indication from the Government about ITR filing last date extension till now. It is expected that there won’t be any extended deadline for return filing this year. Earlier, Union Revenue Secretary Also Read | Tax experts say that the new Income Tax portal is still facing minor technical lag issues, often due to irregular traffic. Therefore any extension of the ITR deadline will depend on how the new e-filing portal handles the web traffic pressure in the run-up to the due date. “The ITR f...