The Income Tax Department notifies crucial ITR filing dates at the start of every assessment year. The due dates for filing various forms and making payments are different for every entity. Taxpayers must adhere to these deadlines in order to avoid penal provisions under Sections 234A and 234F.
To get the important dates of the Income-tax calendar for AY 2022-2023, read on!
Due Dates for AY 2022-23
Category of Taxpayer
Due Dates (unless extended)
Individuals, Body of Individuals, Association of Persons, Hindu Undivided Family (books not required to be audited)
July 31 2022
Businesses whose books require an audit
October 31 2022
Businesses which require a Transfer Pricing Report
Income tax calendar is issued for every assessment year by the IT Department. Taxpayers must not miss the due dates for filing returns, or else they will have to pay heavy penalties.
FAQs on Income Tax Calendar For AY 2022-23
Q1. How one can claim a refund after the due date?
Ans: Taxpayers can avail of tax refunds after the due date by filing belated returns. In this case, they may have to pay penalties and interest, which the IT Department will adjust against refunds due. So one filing returns after the due date will get lower refunds.
Q2.What happens if one fails to file the belated return?
Ans: Individuals cannot file their ITR voluntarily after the due date for belated return. They may file ITR only if the Income Tax Department issues notice to the taxpayer. In such a scenario, they will be liable for strict penalties and heavy penal interest payments.
Q3. What is the due date for ITR filing in the case of companies?
Ans: Last date of filing ITR for domestic companies for FY 2021-22 is October 31 2022. However, companies that carry out international transactions and are liable for audit under Section 92E will have to file their ITR on or before November 30 2022
Q4. Can one file TDS return after the due date?
Ans: Taxpayers can filetheir TDS returns after the due date. However, they are liable to pay a penalty amounting to Rs. 200 per day according to Section 234E. Deductors will have to pay this penalty every day after the due date till the time they file their return.
Q5. Do deductors have to pay TDS monthly?
Ans: Deductors apart from Government offices have to deduct TDS monthly. They must deposit the tax collected by the 7th of next month. However, only in the case of March, all TDS collected in that month must be deposited on or before April 30.
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