Income Tax Return: Big update on ITR filing, penalty will be imposed if the return is not filed before this date

Do you pay tax? The answer of many people on this question is that they do not come under the purview of tax. If something similar happens to you then you should file Zero ITR (0 ITR). Filling it is beneficial for you in many ways. Income Tax Return Form (ITR Form) has been notified by the Income Tax Department for the financial year 2021-22 (AY 2022-23). The filing of Income Tax Return has started from June 15, 2022.

ITR can be filed till 31st July

If you have received Form-16 from the office, then file ITR as soon as possible. This is because the last date for filing income tax returns is 31st July. After this, you will have to pay a penalty for filing ITR. Secondly, as the last date approaches, the load increases due to the filing of returns by more taxpayers on the website and in such a situation there is a problem.

Penalty to be paid after July 31

Let us tell you that the last date for filing income tax return without any late fee for the financial year 2021-22 or assessment year 2022-23 is 31 July 2022. For filing income tax return after the deadline, penalty under section 234A and section 234F of income tax will have to be paid. The last date for filing Income Tax Return for Individual HUF is 31st July.


Apart from this, the last date for filing income tax returns for those who require audit is 31 October 2022. Whereas the last date for filing income tax return for such business which requires TP report is November 30, 2022.

7 thoughts on “Income Tax Return: Big update on ITR filing, penalty will be imposed if the return is not filed before this date”

    1. Dibyendra Banerjea

      For last 7 days , I am trying to file return on line. Successfully completing upto verification / validation but unable to Submit. On pressing submit button, a msg pops up vanishes leving be stranded.

  1. If the bank’s have not uploaded information on form 26AS, how to file return? If the information is incomplete what is the procedure? Please advise.

  2. Dibyendra Banerjea

    For last 7 days , I am trying to file return on line. Successfully completing upto verification / validation but unable to Submit. On pressing submit button, a msg pops up vanishes leving be stranded.

  3. The IT Department issues an annual circular advising us the procedure to be followed for deduction tax at source from salaries and pension during that financial year. The circular for FY 2021-22 was issued on 15.3.2022 as circular No 04/2022 when there was only 16 days to complete the financial year. The circular for the F Y 2020-21 was issued on 03.12.2020 as Circular No 20/2020 when 3 months & 29 days were there to complete the FY 2020-21.The circular for FY2019-20 was issued on 16.01.2020 and that for FY2018-19 on 1.1.2019. It may be noted, the circular for the current FY 2022-23 is yet to be issued. Why should the IT Department delay the circular to be issued at the fag end of the relevant FY even as the the tax rates etc will be settled with the passing of the finance bill by Parliament and there is no reason to delay the issuance of the circular.

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