The content explains the importance of remembering income tax return due dates to avoid penalties and provides an overview of the income tax filing process for FY 2023-24 (AY 2024-25). It also outlines the types of income on which tax is levied, such as Salary, House Property, Business, Capital Gain, and Income from other sources, and explains that individuals must pay income tax if their total income exceeds the taxable income limit after allowing for Chapter VI-A Deduction.
Due Dates of ITR for Different Categories of Taxpayers for FY 2023-24 (AY 2024-25)
| Category of Taxpayer | Due Date (Original Return) |
|---|---|
| Company (whether tax audit applicable or not applicable) | 31/10/2024 |
| Other than a company to whom the tax audit is applicable | 31/10/2024 |
| Partner of the firm to whom tax audit applicable | 31/10/2024 |
| Audit Returns are required for assesses under Section 92E | 30/11/2024 |
| Assesses who are not required to get his Accounts Audit | 31/07/2024 |
| Revised Return/ Belated Return | 31/12/2024 |
| Updated Return (ITR-U) | 31/03/2026 |
Filing Income Tax Return Due Dates for FY 2023-24 (AY 2024-25)
There is a different category of taxpayer viz. Individual, HUF, Firm, LLP, Company, Trust and AOP/BOI. Due Date is different according to audit or non-audit cases of such categories as defined in section 139(1)
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Due Date of Income Tax Return Filing for AY 2024-25 (Non-Audit Cases)
- The common due date for filing the Income Tax Return by Assesse whose Books of Account are not required to be audited is 31st July 2024.
Filing Income Tax Return Due Date for AY 2024-25 (Audit Cases)
- The general due date for filing the Income Tax Return for the audit cases is 31st October 2024.
Due Dates for Tax Audit Report (3CA-3CD/3CB-3CD)
- The due date for filing the Tax Audit Report for all categories of assessees whose accounts are required to be audited is the date one month before the due date for furnishing the return of income under sub-section (1) of section 139.
Revised & Belated ITR Due Dates for AY 2024-25
- The due date for filing a revised and belated income tax return for AY 2024-25 is before three months before the end of the relevant assessment year or before the completion of the assessment, whichever is earlier i.e. 31st Dec 2024.
File Tax Returns for A.Y. 2024-25 before 31st December with INR 5,000 Penalty
The income tax department notified the taxpayers of the late filing of tax returns for A.Y. 2024-25, along with a penalty of INR 5000 However, if the taxpayer’s total income does not exceed Rs 5 lakh, then the maximum penalty levied for delay will not exceed Rs 1000.
About Article:
This article contains various Compliance requirements for the Month of May, 2024 under various Statutory Laws. Compliance means “adhering to rules and regulations.” Compliance is a continuous process of following laws, policies, and regulations, rules to meet all the necessary governance requirements without any failure.
If you think compliance is expensive, try non‐ compliance”
- Compliance requirement under Income Tax act, 1961
| Sl. | Compliance Particulars | Due Dates |
| 1 | Due date for deposit of Tax deducted/collected for the month of April, 2024. However, all sum deducted/collected by an office of the government shall be paid to the credit of the Central Government on the same day where tax is paid without production of an Income-tax Challan | 07.05.2024 |
| 2. | Due date for issue of TDS Certificate for tax deducted under section 194-IA in the month of March, 2024 | 15.05.2024 |
| 3 | Due date for issue of TDS Certificate for tax deducted under section 194-IB in the month of March, 2024 | 15.05.2024 |
| 4 | Due date for issue of TDS Certificate for tax deducted under section 194M in the month of March, 2024 | 15.05.2024 |
| 5 | Due date for issue of TDS Certificate for tax deducted under section 194S (by specified person) in the month of March, 2024 | 15.05.2024 |
| 6 | Due date for furnishing of Form 24G by an office of the Government where TDS/TCS for the month of April, 2024 has been paid without the production of a challan | 15.05.2024 |
| 7 | Quarterly statement of TCS deposited for the quarter ending March 31, 2024 | 15.05.2024 |
| 8 | Due date for furnishing statement in Form no. 3BB by a stock exchange in respect of transactions in which client codes have been modified after registering in the system for the month of April, 2024 | 15.05.2024 |
| 9 | Submission of a statement (in Form No. 49C) by non-resident having a liaison office in India for the financial year 2023-24 | 30.05.2024 |
| 10 | Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194-IA in the month of April, 2024 | 30.05.2024 |
| 11 | Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194M in the month of April, 2024 | 30.05.2024 |
| 12 | Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194-IB in the month of April, 2024 | 30.05.2024 |
| 13 | Due date for furnishing of challan-cum-statement in respect of tax deducted under section 194S (by specified person) in the month of April, 2024 | 30.05.2024 |
| 14 | Issue of TCS certificates for the 4th Quarter of the Financial Year 2023-24 | 30.05.2024 |
| 15 | Quarterly statement of TDS deposited for the quarter ending March 31, 2024 | 31.05.2024 |
| 16 | Return of tax deduction from contributions paid by the trustees of an approved superannuation fund | 31.05.2024 |
| 17 | Due date for furnishing of statement of financial transaction (in Form No. 61A) as required to be furnished under sub-section (1) of section 285BA of the Act respect for financial year 2023-24 | 31.05.2024 |
| 18 | Due date for e-filing of annual statement of reportable accounts as required to be furnished under section 285BA(1)(k) (in Form No. 61B) for calendar year 2023 by reporting financial institutions | 31.05.2024 |
| 19 | Application for allotment of PAN in case of non-individual resident person, which enters into a financial transaction of Rs. 2,50,000 or more during FY 2023-24 and hasn’t been allotted any PAN | 31.05.2024 |
| 20 | Application for allotment of PAN in case of person being managing director, director, partner, trustee, author, founder, karta, chief executive officer, principal officer or office bearer of the person referred to in Rule 114(3)(v) or any person competent to act on behalf of the person referred to in Rule 114(3)(v) and who hasn’t allotted any PAN | 31.05.2024 |
| 21 | Application in Form 9A for exercising the option available under Explanation to section 11(1) to apply income of previous year in the next year or in future (if the assessee is required to submit return of income on or before July 31, 2024) | 31.05.2024 |
| 22 | Statement in Form no. 10 to be furnished to accumulate income for future application under section 10(21) or section 11(1) (if the assessee is required to submit return of income on or before July 31, 2024) | 31.05.2024 |
| 23 | Statement of donation in Form 10BD to be furnished by reporting person under section 80G(5)(iii) or section section 35(1A)(i) in respect of the financial year 2023-24 | 31.05.2024 |
| 24 | Certificate of donation in Form no. 10BE as referred to in section 80G(5)(ix) or section 35(1A)(ii) to the donor specifying the amount of donation received during the financial year 2023-24. | 31.05.2024 |
Due Date of Income Tax Return Filing for AY 2024-25
(Assessee who are required to furnish report under sec 92E)
- The due date for filing the Income Tax Return by Assessee who is required to furnish a report under sec 92E is 30th November 2024.
- The due date for furnishing a Report from an Accountant by persons entering into an international transaction or specified domestic transaction under section 92E of the Act for the Previous Year 2023-24, is at least one month before the due date of filing of return u/s 139(1)
Advance Income Taxes Filing Due Dates FY 2024-25
If the tax liability is more than Rs 10,000 in a financial year then advance tax needs to be paid by the assessee.
| Due Date | Compliance Nature | Tax Paid |
|---|---|---|
| 15th June 2024 | First Instalment | 15% |
| 15th September 2024 | Second Instalment | 45% |
| 15th December 2024 | Third Instalment | 75% |
| 15th March 2025 | Fourth Instalment | 100% |
The assessee who is covered under sections 44AD and 44ADA (i.e. Presumptive Income) is also required to pay the advance tax on or before the 15th of March of the previous year. However, any tax paid till 31st March will be treated as Advance Tax