{"id":5279,"date":"2022-02-05T17:46:31","date_gmt":"2022-02-05T12:16:31","guid":{"rendered":"https:\/\/cacube.in\/?p=5279"},"modified":"2025-03-26T18:24:04","modified_gmt":"2025-03-26T12:54:04","slug":"income-tax-due-dates-for-fy-2022-23ay-2023-24","status":"publish","type":"post","link":"https:\/\/cacube.in\/?p=5279","title":{"rendered":"Income tax due dates for FY 2022-23(AY 2023-24)"},"content":{"rendered":"\n

Due Dates of Income tax as applicable for FY 2022-23 (AY 2022-23)<\/span><\/strong><\/h2>\n\n\n\n

(A) Due date for filing Income tax Return<\/span><\/h3>\n\n\n\n
Category<\/th>Sub-Category<\/th>Original Due date<\/th>Extended due date<\/strong> (if any)<\/td><\/tr>
Individual & HUF<\/td>whose accounts are required to be audited u\/s 44AB (ITR-3)<\/td>31-10-2023 (Audit report is to be filed upto 30-09-2023)<\/strong><\/td><\/td><\/tr>
 <\/td>A working partner where the firm in which he is a working partner has to get its accounts audited u\/s 44AB. (ITR-2)<\/td>31-10-202<\/strong>3<\/strong><\/td><\/td><\/tr>
 <\/td>who is required to furnish report u\/s 92E<\/td>31-10-2023 (Audit report is to be filed upto 30-09-2023)<\/strong><\/strong><\/td><\/td><\/tr>
 <\/td> Other Individuals or HUF (ITR-1 or ITR-2 or ITR-4-Sugam)<\/td>31-07-2023<\/strong><\/td><\/td><\/tr>
 Firms, LLP, AOP, BOI, AJP, HUF, Co-op. Society , Local authority<\/td>If required to get its accounts audited under income tax law or any other law (ITR-5)<\/td>31-10-2023 (Audit report is to be filed upto 30-09-2023)<\/strong><\/strong><\/strong><\/td><\/td><\/tr>
 <\/td>If not required to get its accounts audited (ITR-5)<\/td>31-07-202<\/strong>3<\/strong><\/td><\/td><\/tr>
 Company<\/td>Any Corporate Assessee (ITR-6)<\/td>31-10-2023 (Audit report is to be filed upto 30-09-2023)<\/strong><\/strong><\/strong><\/strong><\/td><\/td><\/tr>
 Trust, Colleges, political parties<\/td>Trust, Political parties and colleges etc who are required to file return u\/s 139(4A), 139(4B), 139(4C) or 139(4D) (ITR-7)<\/td>31-10-2023 (Audit report is to be filed upto 30-09-2023)<\/strong><\/strong><\/strong><\/strong><\/td><\/td><\/tr>
 <\/td>If not required to get its accounts audited<\/td>31-07-2023<\/strong><\/td><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Note: (1) As per section 139(4) any person who has not furnished a return within the time allowed to him under sub-section (1), may furnish the return for any previous year at any time before the end of the relevant assessment year or before the completion of the assessment,<\/strong> whichever is earlier. This is called belated return.<\/strong><\/p>\n\n\n\n

(2) As per section 139(5) (as amended by Finance Act 2017) return filed as above can be revised up to the end of the relevant assessment year or before the completion of the assessment, whichever is earlier. After amendment by the Finance Act\u20192016, the belated return<\/strong> can also be revised.<\/p>\n\n\n\n

(3) W.e.f FY 22-23 (Budget 2022) new section 139(8A)<\/strong> is inserted to provide that any person, whether or not he has furnished a return u\/s 139(1), 139(4) or 139(5), may furnish an UPDATED RETURN<\/strong> of income at any time within twenty-four months from the end of the relevant assessment year. The UPDATED RETURN is not allowed for loss return. The tax liability should not reduce. The UPDATED RETURN u\/s 139(8A) is required to be accompanied by the proof of payment of tax as required under section 140B. But no updated return is allowed to be filed for the assessment year relevant to the previous year in which search is initiated or survey is conducted or requisition is made and two assessment years preceding such assessment year.<\/p>\n\n\n\n

(4) In order to ease compliance burden on senior citizen pensioners who are of 75 years of age or above, it is proposed in Budget 2021 to exempt them from the requirement of filing of income tax if the full amount of tax payable has been deducted by the paying bank. This exemption is proposed to be made available to such senior citizens who have only interest income apart from the pension income.<\/p>\n\n\n\n

(5) Finance Bill, 2020 has prescribed Due Date to file a Tax Audit Report that the due date to furnish a tax audit report is one month prior to the due date of filing of return of income. Hence, the due date to file a tax audit report is linked with the ITR filing due date. Further, the Bill has extended the due date of filing of return of income u\/s 139(1) of the Income Tax Act, 1961 to 31st October from 30th September. Hence, the due date of the Tax Audit report filing is 30 September. <\/p>\n\n\n\n

(6) In Budget 2021, In order to reduce compliance burden, the time-limit for re-opening of assessment is being reduced to 3 years from the current 6 years from the end of the relevant  assessment year.  Re-opening up to 10 years  is proposed to be allowed only if there is evidence of undisclosed income of ` 50 lakh or more for a year. Further, it is proposed to completely remove discretion in re-opening and henceforth re-opening shall be made only in cases flagged by system on the basis of data analytics, objection of C&AG and in search\/survey cases. Further, in order to bring certainty in income tax proceedings at the earliest, it is also proposed to reduce the time limits for general assessment or processing of income tax return by three months and also for filing of returns.<\/p>\n\n\n\n

(7) W.e.f Financial year 2017-18, penalty u\/s 234F<\/strong> is introduced for delay in filing the return. If assessee failed to furnish return of income within due date as prescribed in section 139(1) then he is required to pay penalty as follows:-<\/p>\n\n\n\n

    \n
  •     Rs. 5000 if return is furnished on or before 31 December of assessment year.<\/li>\n\n\n\n
  •      Rs. 10,000 in any other case.<\/li>\n<\/ul>\n\n\n\n

                      (However, if total income of the person does not exceeds Rs. 5 lakh then fee payable shall be Rs. 1000 and no penalty shall be levied if total income does not exceed minimum income not chargeable to tax.)  <\/p>\n\n\n\n

    (B) Due date for payment of advance tax (FY 2022-23 & AY 2023-24)<\/span><\/h3>\n\n\n\n
    Installments<\/th>Due date<\/th>For any assessee (except assessee referred in next column)<\/th>Assessee declaring income under 44AD \/ 44ADA<\/th><\/tr>
    1st<\/td>on or before 15th June<\/strong><\/td>15% of advance tax<\/td>nil<\/td><\/tr>
    2nd<\/td>on or before 15th Sept.<\/strong><\/td>45% of advance tax<\/td>nil<\/td><\/tr>
    3rd<\/td>on or before 15th Dec.<\/strong><\/td>75% of advance tax<\/td>nil<\/td><\/tr>
    4th<\/td>on or before 15th March<\/strong><\/td>100% of advance tax<\/td>100% of advance tax<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

    Note-<\/p>\n\n\n\n

    (1) Only If your total tax liability is Rs 10,000 or more in a financial year then you have to pay advance tax.<\/p>\n\n\n\n

    (2) Taxpayers who opt for presumptive scheme are exempt from advance tax for FY2017-18.<\/p>\n\n\n\n

    (3) Upto FY 2015-16, there were separate percentage of advance tax payable for individual (nil, 30%, 60% & 100% due on same dates ) and separate percentage of advance tax for corporates (15%, 45%, 75% & 100% due on same dates) But by Budget 2016 (W.e.f FY 2016-17) common percentage of advance tax payable is made applicable for all assessees except the assesee who declares his income in accordance with section 44AD & 44ADA.<\/p>\n\n\n\n

    (4) Any payment of tax made on or before 31st march of same FY, shall also be treated as advance tax. <\/p>\n\n\n\n

    (5) Some incomes such as capital gains and some speculative incomes(lottery and gambling etc) are hard to predict accurately, Hence if the shortage in payment of advance tax on account of under estimation due to such income then no interest in charged u\/s 234C. But advance tax for these income is to be paid in forthcoming installment once actual income for these is known but before end of FY i.e. 31st march.<\/p>\n\n\n\n

    (C) Due date for payment of TDS & TCS (FY 2022-23 & AY 2023-2024)<\/span><\/h3>\n\n\n\n
    For the Month<\/th>Non-Government<\/th>Government<\/th><\/tr>
    April 2022 to February 2023<\/td> 7th of next month<\/strong><\/td>Last date of Current month<\/strong> in which TDS\/TCS is deducted or collected<\/td><\/tr>
    March-2023<\/td>30th April 2023<\/strong><\/td>7th April 2023<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

    Note: Time limit for depositing TDS deducted on the purchase of immovable property u\/s 194IA is within 30th day from the end of the month in which payment of consideration is made.<\/p>\n\n\n\n

    (D) Due date for filing TDS return (FY 2022-23 & AY 2023-24)<\/span><\/h3>\n\n\n\n
    Quarter<\/th>Period<\/th>Last Date of Filing<\/th><\/tr>
    1st Quarter<\/td>01-04-2022 to 30-06-2022<\/td>31st July 2022<\/strong><\/td><\/tr>
    2nd Quarter<\/td>01-07-2022 to 30-09-2022<\/td>31st Oct 2022<\/strong><\/td><\/tr>
    3rd Quarter<\/td>01-10-2022 to 31-12-2022<\/td>31st Jan 2023<\/strong><\/td><\/tr>
    4th Quarter<\/td>01-01-2023 to 31-03-2023<\/td>31st may 2023<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

    (E) Due date for filing TCS return (FY 2022-23 & AY 2023-24)<\/span><\/h3>\n\n\n\n
    Quarter<\/th>Period<\/th>Last Date of Filing<\/th><\/tr>
    1st Quarter<\/td>01-04-2022 to 30-06-2022<\/td>15th July 2022<\/strong><\/td><\/tr>
    2nd Quarter<\/td>01-07-2022 to 30-09-2022<\/td>15th Oct 2022<\/strong><\/td><\/tr>
    3rd Quarter<\/td>01-10-2022 to 31-12-2022<\/td>15th Jan 2023<\/strong><\/td><\/tr>
    4th Quarter<\/td>01-01-2023 to 31-03-2023<\/td>15th May 2023<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

    (F) Due date for issuance of  TDS & TCS Certificate (FY 2022-23 & AY 2023-24)<\/span><\/h3>\n\n\n\n
    Form No.<\/th>Periodicity<\/th>Due date<\/th><\/tr>
    Form-16 (TDS on salary)<\/td>Annual<\/td>31st May<\/strong> of next financial year<\/td><\/tr>
    Form-16A (TDS on non-salary)<\/td>Quarterly<\/td>Within 15 days<\/strong> from due date of furnishing TDS return<\/td><\/tr>
    Form-16B (TDS U\/s 194IA))<\/td>Quarterly<\/td>Within 15 days <\/strong>of furnishing challan in Form No. 26QB<\/td><\/tr>
    Form-27D (TCS)<\/td>Quarterly<\/td>Within 15 days<\/strong> from due date of furnishing TCS return.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

    (G) Due date for uploading Declaration received u\/s 15G\/15H<\/span> (FY 2022-23 & AY 2023-24)<\/span><\/h3>\n\n\n\n
    Quarter<\/th>Period<\/th>Last Date of Filing<\/th><\/tr>
    1st Quarter<\/td>01-04-2022 to 30-06-2022<\/td>15st July 2022<\/strong><\/td><\/tr>
    2nd Quarter<\/td>01-07-2022 to 30-09-2022<\/td>15st Oct 2022<\/strong><\/td><\/tr>
    3rd Quarter<\/td>01-10-2022 to 31-12-2022<\/td>15st Jan 2023<\/strong><\/td><\/tr>
    4th Quarter<\/td>01-01-2023 to 31-03-2023<\/td>30th April 2023<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

    (H) Due date for filing Annual Information Return(AIR) of specified financial transactions and reportable accounts in form 61A & 61B<\/span><\/h3>\n\n\n\n

    To keep a watch on high value transactions undertaken by the taxpayer, the Income tax Law has framed the concept of “statement of financial transaction or reportable account”(previously called as \u2018Annual Information Return (AIR)\u2019). This statement is required to file by specified persons in form 61A & 61B upto 31st May of next Financial year<\/strong>. For FY 2022-23, this is required to filed upto 31st May 2023.<\/strong><\/p>\n\n\n\n

    (I) Due date for filing Belated Return u\/s 139(4) or Revised Return u\/s 139(5)<\/span> or Updated Return u\/s 139(8A)<\/span><\/h3>\n\n\n\n

    As per section 139(4):-<\/strong><\/p>\n\n\n\n