ITR Filling Last Date

Wanna know about the ITR filling on the last date, then you have landed on the right. The last date to file ITR is near. Taxpayers are requesting to extend the last date.

Filing Income tax is a crucial financial practice that every individual and business should follow. Paying ITR on time is good for getting smooth loans and avoiding penalties. Missing the ITR Last date can have significant consequences.

Read this blog, you will receive information about the IT Return Last Date, extended dates, and the issues of missing the deadline. 

Dates For ITR Filing 2024

The ITR Filing Last date is July 31st but the date and time limit depends on the category. Here category refers to individual, business, salaried group etc. The date of submission of the ITR File Last date is different for different categories. So, if you don’t want to miss the ITR File last date kindly look below.

ITR filing last date for the salaried employees is 31st July 2024. So, if you belong to a salaried group ensure to fill the ITR within this week.

If you are a business that requires Audit the ITR File Last Date is 31st October 2024. You must fill out the ITR before this date if you want to avoid late fees.

If you are a business and professional who doesn’t require an Audit, the ITR file last date for this category is 31st July 2024.

If you are a business or individual who has filed the revised or belated return the ITR last date is ‘31st December. Remember to not miss the ITR File Last Date.

If you want to avoid the late fees, charges and penalties check these dates and file ITR on time. Stay up to date about the ITR File Last date and maintain good tax filing records. Don’t miss the ITR filing date. It is also good to regularly check the Income Tax Return Filing News.

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What If You Miss the ITR Filing Last Date?

Missing deadline is not good. But due to some reason, you will the IT Return last date you can file it late. This late filing is known as a belated return. But remember it has some conditions and late fee and interest will be charged. The last date of belated return is 31st December of the assessment year.

In some cases, you even miss the December 31st deadline due to some reason. You have another option apart from the belated return. It is an Updated return that you can use.  Updated return allows you to pay the ITR within 24 months of the assessment year. But it is good to be aware of ITR Filing date and avoid delays.

What is the Financial Year and Assessment Year?

Financial Year: The financial year refers to the 12-month period that begins on April 1st and ends on March 31st. In the financial year, the company earns money. On the other hand, the assessment year is initiated after the end of the financial year. The revenue which is generated in the financial year is taxed in the assessment year.

Conclusion

The timely submission of the ITR in time is the financial responsibility of both the company and individuals. The ITR Filing Last Date for filling out and completing your ITR is July 31st, 2024. If you do not submit the ITR by this date you could be charged the cost for late submission.

However, if you are late in paying the ITR by the deadline there is another way to pay by filing belated returns. But, filling out ITR by filing belated returns comes with certain restrictions. It is recommended to submit the tax return by the ITR File last date for filing. Being up to date with Income Tax return Filing News is good practice. There are many Benefits of ITR that a business can access.

FAQs 

1. What Is the last date for ITR 2024?

The last date to File your ITR is July 31st, 2024, if you want to avoid late fines and penalties kindly file your ITR before this date.

2. Is there any update on whether the ITR filing deadline for 2024 will be extended?

No, currently no updates have been released by the Ministry of Finance about the extension of ITR last date. But many people are requesting to extend the ITR file’s last date.

3. Can ITR Be Filed After Due Date?

Yes, you can file the ITR after missing the ITR filing last date. This will be considered as a belated return. To file the belated return, you will have to pay the late fee and interest.

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