As we know that the time of e-filing ITR is running so every taxpayer must remember income tax return filing due dates to avoid penalties under the Income Tax Act, of 1961. In this post, you can check out all due dates compulsory for FY 2023-24 (AY 2024-25).
The practising CA, CS and tax professionals can also view advance tax and revised and updated ITR due dates. The CBDT department has started ITR filing from 1st April for AY 2024-25.
Two types of tax levy on entities are direct tax and indirect tax. Income tax is a direct tax that is directly attributable to the income of the assessee. Income which is generated from the various heads of income viz.Salary, House Property, Business, Capital Gain and Income from other sources. The assessee has to pay income tax if his total Income after allowing Chapter VI-A Deduction is more than the taxable income limit.
| Category of Taxpayer | Due Date (Original Return) |
|---|---|
| Company (whether tax audit applicable or not applicable) | 15/11/2024 (Revised) |
| Other than a company to whom the tax audit is applicable | 15/11/2024 (Revised) |
| Partner of the firm to whom tax audit is applicable | 15/11/2024 (Revised) |
| 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 |
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)
Free Download Gen IT Software for e-Filing Returns
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.
(Assessee who are required to furnish report under sec 92E)
Missing the deadline for filing Income Tax Returns (ITR) for the FY 2023-24 and AY 2024-25 can have some harmful effects. Take a look at what happens if you miss the ITR deadline:
It is essential to submit your ITR before the due date to avoid difficulties. Filing tax returns on time allows you to make the process much easier, stops you from facing penalties and extra costs, and provides you with all the tax benefits you are ready for.
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
Q.1 – What is the last date for filing an income tax return (ITR) for non-audit cases?
The due date for filing income tax returns for AY 2024-25 (FY 2023-24) was 31st July 2024
Q.2 – Could I E-file My Return after the due date?
Yes, you can file your late income tax return (ITR) within the 31st of December of that assessment year (AY) after paying extra fees and interest.
Q.3 – What is the due date to E-file income tax return (ITR) for Cos?
The deadline for filing the ITR of domestic companies for the financial year (FY) 2023-24 is November 15th, 2024 (revised). For all companies, it is essential to e-file their Income Tax Returns (ITR) by a specific date every year.
Q.4 – Is It Possible to File a Revised ITR?
Yes, you can make the particular modification in your ITR after submitting it. It would be best if you changed it on or before 31st of December.
Q.5 – What happens if a person files their ITR after the due date?
If you have missed the particular deadline for filing your income tax return, then you have to pay some additional fees as per section 234F of the Income Tax Act.
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View Comments
I have incorporated Pvt. Ltd. Co. in February 2017. The co. did not conduct any operations in Feb, March 2017, two months after incorporation of the pvt. Ltd. Co. Do I have to file ITR, audit and ROC for FY 2016-2017?
I also read at Bankbazaar.com/Tax/section-139-late-filing-it-return.html as given below:
Quote
"If a co. was not operational during the FY, will it still be required to file IT returns?
Ans. - A firm or a company that did not conduct any business or operations during the course of the relevant FY has an option to decide whether it should file its ITR or not"
Unquote
Can this be interpreted that I need not file ITR, Audit and ROC for FY 2016-17 by Sept. 30, 2017? Would it mean, I have to file ITR return, audit and ROC for 2+12 months by sept. 30, 2018?
Thanks for your reply and clarification. That means I need to file ITR by 30 sept. 2017. However I can file ROC and audit report in Sept. 2018 for 14 months. Trust my understanding is correct.
Sir,
Just for understanding, what is considered as company being operational, is it when it starts generating revenue or when any transaction for the co. (say only expenditure for the company).
Also, assuming that I need to file ITR, though co. was not operational (as it did not generate revenue) and I do not file by sept 30, 2017 but file say by sept. 30, 2018 alongwith ROC and audit, what will be the penalty for filing late ITR?
Will be grateful for your explanation.
As such under act, it is not clarified that which company needs to be considered operational or which one not. In act, it is mentioned that every company registered during FY needs to file ITR. Non-filing of return on time will attract interest on tax u/s 234(A), 234(B), 234(C) and a penalty upto Rs.5000 u/s 271F.
As per Sec 2(41) of Companies act, 2013, "financial year", in relation to any company or body corporate, where it has been incorporated on or after the 1st day of January of a year, the period ending on the 31st day of March of the following year, in respect whereof financial statement of the company or body corporate is made up. i.e. as per companies act you can go for audit and ROC filing in next year of incorporation for the full period after incorporation.
But there is no such relaxation under Income Tax Act, as per sec 139, every company need to file ITR. So better to go for ITR and ROC filing in same year of incorporation. For more clarification, you can consult to a practising CA.
I had incorporated Pvt. Ltd. Co. in Feb. 2017. In the month of Feb and March there are only expenses. Do I need to file ITR, ROC as well as statutory audit? If yes what will be last date for each of these?
Mai apna income tax return from date 01.04.2017 se 31.03.2018 tak ka return nahi bhar paya, plz help me and tell me ye kab tak jama kar sakte hai or last date kya hai taki Mai Bina interest ka tax jama kar saku.plz last date bataye.
Advance tax is payable if the tax liability after TDS is more than Rs. 10000/-. Last date to pay advance tax was 15th March 2018. After that, interest would be applicable.
I have paid the TAX for wrong ASSESSMENT year how should I refund it. I filed the return already in AY 2016-17 but I wrongly filled and paid additional tax for assessment AY 2016-17. How should i refund the amount. Please suggest.
Your excess tax deposited will be reflected in Form 26AS for the AY 2016-17. You can claim refund by filing the rectification return since your return should have been already processed at CPC.
I am unable to submit IT-Returns today i.e., 1st Aug 2017 and getting the below message. Please help.
For AY 2016-17, the end date to file ITR u/s 139(1) is over
You are filing in the wrong Assessment Year... for FINANCIAL YR 2016-17, the Assessment Year is 2017-18
for AY 2016-17, last date to file ITR u/s 139(1) is july 2016. now ITR u/s 139(4) can be filed.
Dear friends, its really a very good place to attain knowledge as CA Saurabh himself updates this blog. Moreover I want to inform you about the latest update i.e. Due date for filing income tax return for the AY 2017-18 is now extended to 5 th of August by Income Tax Dept. This step is taken in view of the difficulties faced by the tax payers.
My wife has few FDs in bank. Interest from FD is being only source of income to her. interest of 1,20,000 is deposited for her in fy 2017-18. my question is that is she exempted from tax up to a limit of 2.5L. In such case where her only income is interest and income is within 2.5 L. she does not fall under tax limit. isn't it? do i have to file her return.if i don't file her return...is it anything wrong?????
if TDS is deducted on any income and you want to claim an income tax refund then it is mandatory to file income tax return regardless of the quantum of income.
hello, i have a query.i am a housewife and my income does not exceed above Rs 250000/- for ay 2017-18.is it compulsory for me to file return.i have couple of FD's also but the fd interest does not exceed rs 250000/- please let me know.regards
If tds is deducted on any income and you want to claim an income tax refund then it is mandatory to file income tax return.
Hi,
I have some FD interest income for FY 2016-17.
As part of TDS, 10% of income tax has been already deducted by respective bank which is present in 26AS.
Remaining 20% I have paid using Challan 280 .
I want to clarify, whether there will be implication of interest as below, if I file my returns by July 31st 2017.
For default in payment of advance tax (section 234B)
For deferment of advance tax (section 234C)
Thanks in advance.
Even I see the error "For AY 2016-17, the end date to file ITR u/s 139(1) is over"
For AY 2016-17, due date for filing return u/s 139(1) is 31st July 2016. so the error is correct. Now return u/s 139(4) can be filed
Today is 19th July and I am filing my tax returns. I see deadline is 31st July however I am getting the message - "For AY 2016-17, the end date to file ITR u/s 139(1) is over". I see others have also faced similar issue. Any solution?