Income Tax Calendar for Last Date of ITR Filling
[A.Y. 2024-25]
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.
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.
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.
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.
Sr No. | Event | Date | Consequence if not filled by this date |
1 | Due Date of Filing for Non-Audit Case | 31st July 2024 |
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2 | Due Date of Filing for Audit Case | 30th Sep 2024 |
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3 | Last Date of ITR of Belated Return | 31st Dec 2024 |
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4 | Last date of ITR File -U | 31st March 2027 |
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5 | Advance Tax 1st Instalment | 15th June 2024 |
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6 | Advance Tax 2nd Instalment | 15th Sep 2024 |
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7 | Advance Tax 3rd Instalment | 15th Dec 2024 |
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8 | Advance Tax 4th Instalment | 15th March 2025 |
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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.
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.
All the Tax payers who are required to get their accounts audited have to file Income Tax Return on or before 30th Sep 2024 instead of 31st July 2024.
Refund of TDS Can be claimed if you file ITR upto 31st Dec 2024. After 31st Dec 2024 the ITR submitted will be ITR-U . Income Tax department does not allow to claim refund of TDS in ITR-U.
Every Tax payer is required to file its Income Tax Return on the prescribed date. If the Tax payer misses the date the penalty on late filing of Income Tax Return is applicable as follows:
Sr. | Income (Old Regime) | Income (New Regime) | Late Fees Payable |
1. | Upto 2,50,000/- | Upto 3,00,000/- | Nil |
2. | Upto 5,00,000/- | Upto 5,00,000/- | 1000 |
3 | Above Rs 5,00,000/- | Above Rs 5,00,000/- | 5000 |
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