Last date to file itr 2022-23

Every assessee who has filed his/her ITR is entitled to revise it under section 139(5) to provide correct information to the tax department. Even those who file belated ITR, i.e., ITR is filed after expiry of the deadline, can file a revised return. The last date to file a revised ITR for FY 2021-22 is December 31, 2022. But it must not be the cause of worry as the income tax laws allow an individual to rectify such errors. Section 139(5) of the Income-tax Act, 1961 allows taxpayers to rectify their mistakes by filing a revised income tax return. According to the section, if an individual after filing their tax return discovers any omission or wrong statement, then he/she can furnish a revised return. The Centre had made an announcement in the Union Budget 2021 that it has reduced the time to file revised ITR by three months. Till FY 2019-20, an individual was allowed to file ITR till March 31 of the relevant assessment year. However, from FY 2020-21, the last date for filing a revised ITR has been December 31 of the relevant assessment year. So, the last date to file a revised ITR for FY 2021-22 (AY 2022-23) is December 31, 2022. It is just the same as filing an original ITR only the taxpayer will have to file it under section 139(5) of the Income-tax Act. They will have to opt for the option ' Revised u/s 139(5)' in the 'return filed under' column. The ITR form will additionally ask you for details of the original ITR, i.e., receipt number and date of filing of original ...

Synopsis The income tax return filing season is upon us. Most salaried individuals are eligible to file their tax returns using ITR-1 form. This tax return form is also known as 'Sahaj'. However, not many people know the steps to file ITR-1 on the income tax e-filing portal. Here is a step by step guide of filing ITR-1 on the income tax e-filing portal. The due date to file income tax return (ITR) by individual taxpayers who are not subject to tax audit under the Income-tax Act,1961 for the FY 2022-23 (AY 2023-24) is July 31, 2023. This article explains the most efficient way to file the return in Form ITR-1, including illustrative examples for easy reference Who can file ITR-1?Form ITR-1 can be used by an Ordinary Resident (ROR) Individual with a total income of up to Rs.50 lakh. This includes income from salary, one house property, and other sources such as bank interest, dividends, and agricultural income up to Rs.5,000. Step 3: Select the relevant assessment year and mode of filing and click 'Continue' to proceed. The assessment year is the year in which income earned in the previous financial year is assessed. To file ITR for FY 2022-23, the assessment year is 2023-24. Here we have selected mode of filing as 'online'. If you are uploading JSON file generated from the department's utilities, you must select the mode of filing as offline. Section 1: Personal Information In this section, verify the data pre-filled from your e-filing profile. You cannot directly edit cert...

Every assessee who has filed his/her ITR is entitled to revise it under section 139(5) to provide correct information to the tax department. Even those who file belated ITR, i.e., ITR is filed after expiry of the deadline, can file a revised return. The last date to file a revised ITR for FY 2021-22 is December 31, 2022. But it must not be the cause of worry as the income tax laws allow an individual to rectify such errors. Section 139(5) of the Income-tax Act, 1961 allows taxpayers to rectify their mistakes by filing a revised income tax return. According to the section, if an individual after filing their tax return discovers any omission or wrong statement, then he/she can furnish a revised return. The Centre had made an announcement in the Union Budget 2021 that it has reduced the time to file revised ITR by three months. Till FY 2019-20, an individual was allowed to file ITR till March 31 of the relevant assessment year. However, from FY 2020-21, the last date for filing a revised ITR has been December 31 of the relevant assessment year. So, the last date to file a revised ITR for FY 2021-22 (AY 2022-23) is December 31, 2022. It is just the same as filing an original ITR only the taxpayer will have to file it under section 139(5) of the Income-tax Act. They will have to opt for the option ' Revised u/s 139(5)' in the 'return filed under' column. The ITR form will additionally ask you for details of the original ITR, i.e., receipt number and date of filing of original ...

Synopsis The income tax return filing season is upon us. Most salaried individuals are eligible to file their tax returns using ITR-1 form. This tax return form is also known as 'Sahaj'. However, not many people know the steps to file ITR-1 on the income tax e-filing portal. Here is a step by step guide of filing ITR-1 on the income tax e-filing portal. The due date to file income tax return (ITR) by individual taxpayers who are not subject to tax audit under the Income-tax Act,1961 for the FY 2022-23 (AY 2023-24) is July 31, 2023. This article explains the most efficient way to file the return in Form ITR-1, including illustrative examples for easy reference Who can file ITR-1?Form ITR-1 can be used by an Ordinary Resident (ROR) Individual with a total income of up to Rs.50 lakh. This includes income from salary, one house property, and other sources such as bank interest, dividends, and agricultural income up to Rs.5,000. Step 3: Select the relevant assessment year and mode of filing and click 'Continue' to proceed. The assessment year is the year in which income earned in the previous financial year is assessed. To file ITR for FY 2022-23, the assessment year is 2023-24. Here we have selected mode of filing as 'online'. If you are uploading JSON file generated from the department's utilities, you must select the mode of filing as offline. Section 1: Personal Information In this section, verify the data pre-filled from your e-filing profile. You cannot directly edit cert...