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Last Date of ITR Filling

Income Tax Calendar for Last Date of ITR Filling
[A.Y. 2024-25]

Income Tax Calendar for Last Date of ITR Filling

Imagine you have a piggy bank where you keep all your money you earn. At the end of the year, you need to count all the money you’ve saved in your piggy bank and tell the tax people about it.

For the Financial year 2023-24:

you have to do this by 31st July 2024 if you don’t need an audit (like checking if you’ve counted everything correctly) and by 31st October 2024 if you do need an audit.

Advance Tax Payments:

Now, sometimes, the tax people want to see some of your money before the end of the year. They ask for it in four parts, like four gifts you give them throughout the year. The first gift is in June, the second in September, the third in December, and the fourth in March 2025.

Other Important Dates:

There are a few other things you need to do. For example, you have to tell the tax people about the money you’ve given to others for work (like a part-time job) by 31st January 2024. If you want to save some of your money for next year (like a New Year’s resolution), you have to do it by 15th March 2024. And if you made a mistake and need to tell the tax people about it, you have until 31st July 2024.

Any confusion about Income Tax Filing?

Talk to our Tax Experts and let them file your Income Tax Return

We have laid down the dates below for your ready reference

Sr No.

Event

Date

Consequence if not filled by this date

1

Due Date of Filing for Non-Audit Case

31st July 2024

  • Interest @ 1 % Applicable on Tax Due
  • Late fees up to Rs 5000/- Payable on Late Filling
  • Cannot Carry Forward Loss(If Any)

2

Due Date of Filing for Audit Case

30th Sep 2024

  • Interest @ 1 % Applicable on Tax Due
  • Late fees up to Rs 5000/- Payable on Late Filling
  • Cannot Carry Forward Loss(If Any)

3

Last Date of ITR of Belated Return

31st Dec 2024

  • Interest @ 1 % Applicable on Tax Due
  • Late fees up to Rs 5000/- Payable on Late Filling
  • Cannot Carry Forward Loss(If Any)
  • Not Allowed to claim Refund of Tax
  • Only eligible person u/s 139(8A) is allowed to file ITR
  • Additional Tax @25% will be payable on the Tax Payment Pending

4

Last date of ITR File -U

31st March 2027

  • ITR cannot be submitted after this date

5

Advance Tax 1st Instalment

15th June 2024

  • Interest @ 1 % Per Month Applicable on due amount till the date of payment

6

Advance Tax 2nd Instalment

15th Sep 2024

  • Interest @ 1 % Per Month Applicable on due amount till the date of payment

7

Advance Tax 3rd Instalment

15th Dec 2024

  • Interest @ 1 % Per Month Applicable on due amount till the date of payment

8

Advance Tax 4th  Instalment

15th March 2025

  • Interest @ 1 % Per Month Applicable on due amount till the date of payment

Remember, this is just a simple explanation. The actual rules can be a bit more complicated.

If you need more information, you can consult Tax experts at FSK India and file your Income Tax Return more easily.

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FAQs on Income Tax Calendar for Last Date of ITR Filling!

All the Tax Payers whose Income is more than the basic exemption limit (For eg. Rs 250000/- in case of Individual up to age of 60 Years) are required to file Income Tax Return on or before 31st July.

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