Last Date 31st July 2023 To File ITR

| Last updated: 31 July 2023

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The final deadline for filing your Income Tax Return (ITR) for the financial year 2022-2023 is 31st July 2023. Over 6 crore ITRs have already been filed, with a significant number of taxpayers using the e-filing portal. The Income Tax Department offers a 24x7 helpdesk to assist with any queries during the filing process. Failing to file on time can result in penalties, ranging from ₹1,000 to ₹10,000 depending on the delay.

Income Tax Return (ITR) is a form used to declare an individual's or entity's income and taxes paid or owed to the government during a financial year. The last date to file ITR for the financial year 2022-2023 is 31st July 2023. Filing ITR is mandatory for individuals and entities meeting certain income criteria set by the tax authorities.

As of 30th July, more than 6 crore Income Tax Returns (ITRs) have been filed. Approximately 26.76 lakh ITRs filed by 6:30 pm. Additionally, the e-filing portal saw more than 1.30 crore successful logins on the same day. This indicates a significant number of taxpayers actively using the online platform to file their returns.

File ITR by 31st July 2023: Avoid Penalties

The Income Tax Department has set up a 24x7 helpdesk to assist taxpayers in various aspects of Income Tax Return (ITR) filing, tax payments, and related services. Taxpayers can seek support through different channels, including phone calls, chats etc. This continuous support aims to provide guidance and address queries from taxpayers, making the tax-filing process more accessible and user-friendly.

What happens if ITR not filed on time?

If Income Tax Returns (ITRs) are not filed on time, penalties are imposed based on the delay:

If the ITR is filed between August 1 and December 31 of the assessment year, a maximum penalty of ₹5,000 will be levied. However, if the total income of the individual is less than ₹5 lakh in a fiscal year, the maximum penalty is ₹1,000.
If the ITR is submitted after December 31 of the assessment year, the penalty increases to ₹10,000.

It is essential to file the ITR on time to avoid these penalties and stay compliant with the income tax regulations.

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About the Author

Mitali

Finance Professional

I write about Income Tax, GST, TDS, RBI updates, government schemes, and personal finance in India. My focus is on simplifying complex tax and compliance topics into easy-to-understand guides that help readers stay updated with the latest financial rules, investment options, and regulatory changes.

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