ITR filing due date: Just two days left until the July 31 deadline for filing income tax returns for FY 2023, so it is crucial for taxpayers not to overlook this important due date. The government has already suggested that the deadline will not be extended this year. Over 5 crore tax returns have been filed for income earned in the 2022-23 fiscal, which ended March 31.
“Out of the 5.03 crore ITRs filed till 27th July 2023, about 4.46 crore ITRs have been e-verified i.e. more than 88 per cent ITRs filed have been e-verified!” the income tax department tweeted.
ITR filing 2023 deadline
The last date for filing ITRs by salaried employees and those who do not have to get their accounts audited for assessment year 2023-24 is July 31.
ITR filing July 31 deadline: 14% taxpayers could miss deadline; 27% yet to file their return due to monsoon floods, says survey
Over 14 per cent of individual income taxpayers admitted that they will not be able to meet the July 31 deadline, showed a survey by LocalCircles on Friday. Out of 12,000 people who responded to this survey, 27 per cent admitted that they are still left to file their income tax returns.
The survey asked the question “How are you positioned to be able to file your individual income tax return for FY 2022-23 by the current deadline of July 31, 2023?” Of the over 12,000 who responded to this query 27% admitted that they are still to file their income tax returns. The data shows that while 7 in 10 have already filed their income tax returns; 5% of the respondents have tried but had difficulty in filing and will try again to file by July 31; 8% of those surveyed admitted that they haven’t filed their returns yet but will comfortably do so before month end; 5% admitted they haven’t filed it and it will take a significant effort to do so before the deadline and 9% indicated that it will be impossible for them to file the income tax returns by July 31. In effect, 14% of respondents admitted that they will likely be unable to file their income tax returns by the deadline.
Chartered accountants believe that amid this rain fury and floods in several states, taxpayers are facing difficulty in filing ITRs, and the income tax department and the finance ministry might consider extending the deadline in these states. “Many taxpayers in these flood-affected states are facing hardships . There is a case for an exemption to these regions,” says Amit Gupta, MD, SAG Infotech.
If you happen to miss the July 31 due date, you can file a belated return until December 31, but keep in mind that a late fee will be imposed.
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Updated: 29 Jul 2023, 07:54 AM IST