What is the final date for submitting the income tax return (ITR)?

The final date for submitting the income tax return is 31st July 2024 for individual taxpayers.

How can I submit my income tax return after the due date?

A taxpayer can submit their income tax return after the due date by filing a belated return before 31st December of the assessment year. However, a penalty ranging from Rs. 1000 to Rs. 5000 will apply.

When does the tax filing process begin in 2024?

The income tax return filing for the assessment year 2024-25 will commence on 1st April 2024.

What are the consequences if I miss filing my ITR for a year?

If a taxpayer fails to file their income tax return, they may incur a penalty of up to ₹10,000. Additionally, interest will be charged on the outstanding taxable amount.

What is the procedure for filing a zero-income tax return?

Filing a zero-income tax return follows the same procedure as filing a regular income tax return.

ITR Filing Last Date for FY 2023-24 - Check Due Date

Income Tax Returns (ITR) are used by taxpayers to report their earnings and tax payments to the IRS.

It is crucial for individuals, businesses, and various other entities to submit their Income Tax Returns within the specified timelines. Timely filing helps avoid unnecessary penalties that could arise from failing to submit or delaying tax payments.

What is the Deadline for ITR Filing?

The last date to file Income Tax Returns (ITR) for the Financial Year 2023-24 (Assessment Year 2024-25) without any late fees is 31st July 2024. However, if you miss the deadline, you can still file a belated return before December 31, 2024.

The deadline for submitting federal tax returns marks the final date to file without incurring any late charges or penalties. Taxpayers who file after the due date will be subject to interest and penalties under Sections 234A and 234F.

It is essential for all taxpayers to be aware of the deadline for filing their income tax returns. The filing deadline can vary depending on the type of taxpayer. For salaried individuals, the general deadline is July 31st, while businesses that require an audit have until September 31st of the assessment year.

Start Date for ITR Filing for FY 2023-24

Income Tax Return e-filing for FY 2023-24 (AY 2024-25) is expected to begin soon, likely in the first week of June. The official ITR filing start date will be announced shortly.

ITR Deadlines for FY 2023-24 (AY 2024-25)

The following table outlines the final dates for ITR filing 2024:

Category	IT Returns Filing Deadline
ITR Filing for Individual/HUF/AOP/BOI	31st July 2024
Businesses (requiring audit)	31st October 2024
Businesses (requiring transfer pricing reports)	30th November 2024
Revised Return	31st December 2024
Belated/Late Return	31st December 2024
Updated Return	31st March 2027 (2 years from the end of the relevant Assessment Year)

Advance Tax Instalment Payment Deadlines for FY 2023-24

Below are the details regarding the due dates for paying advance tax instalments for the year:

Due Date	Type of Compliance	Tax Liability
15th June 2024	First instalment	15% of total tax liability
15th September 2024	Second instalment	45% of total tax liability
15th December 2024	Third instalment	75% of total tax liability
15th March 2025	Fourth instalment	100% of total tax liability
15th March 2025	Presumptive scheme	100% of total tax liability

Financial Year (FY) and Assessment Year (AY) for ITR Filing

To file returns for income earned between 1 April 2023 and 31 March 2024, the following years will apply for Financial and Assessment purposes:

Financial Year	2023-24
Assessment Year	2024-25

Other Related Resources

Impact of Missing the Income Tax Return Filing Deadline

If the ITR deadline for FY 2023-24 is missed, the following penalties and consequences may apply:

A penalty ranging from Rs 1,000 to Rs 5,000 may be imposed.
Taxpayers filing belated returns might lose the ability to carry forward certain losses for set-off in future years.
Belated filers are restricted from opting for the new tax regime.
Interest under Section 234A at 1% per month (or part of a month) on the unpaid tax amount will be charged if filing is done after the due date.

Also Check, Penalties for Not Filing Your Income Tax Returns on Time

Income Tax Returns Filing Due Date