The due date for filing ITR for the financial year 2021-22 or assessment year 2022-23 is approaching. Every individual, whose annual income is above the exemption limit, needs to pay the tax. The due date to file ITR returns is July 31, 2022. However, there are different ITR due dates or deadlines for different types of taxpayers. 

The deadline for individuals and salaried employees whose accounts are not required to be audited is July 31. The Income Tax (I-T) is levied based on different slab in which the rates vary as per the income levels. The tax rate changes as the income increases.

According to the Income Tax Rules, the last date to file ITR for Hindu Undivided Families (HUF), whose accounts don’t need to be audited remains the same as well. ITR Filing for FY 2021–22 (AY 2022–23): Form 16, E-Verify ITR Return and Others; 5 Things To Keep in Mind While Filing Income Tax Returns

Those who need to audit their accounts are required to file ITR by October 31, 2022. Such taxpayers include a company, a working partner of a firm or individuals and other entities like proprietorship, firms etc. whose accounts are required to be audited.

It is important to note that if an individual taxpayer files return after July 31, 2022, then you have to pay a late fee of Rs 5,000. But if the total income of the person is less than Rs 5 lakh in a financial year, then a late of Rs 1,000 will be levied. ITR Filing for FY 2021–22 (AY 2022–23): What Is Form 26AS and Why It Is Important for Filing Income Tax Return?

Any taxpayer, who has entered into an international transaction, has to submit a report under Section 92E. In case of such taxpayers, the ITR filing deadline is November 30, 2022.

So far, the government has not announced an extension of the ITR filing deadline. Hence, taxpayers need to file their returns on or before July 31, October 31 or November 30 as applicable.

(The above story first appeared on LatestLY on Jul 13, 2022 07:52 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).