Income Tax Return deadline AY 2022-23: Should ITR filing last date be extended permanently?

The ITR filing deadline for AY 2022-23 ends today. If you haven’t filed your ITR yet, you should do it today

income tax return filing
Income Tax Return filing is free on official Income Tax department's website. Representative image

Income Tax Return filing last date for Assessment Year 2022-23: The ITR filing deadline for AY 2022-23 ends today. If you haven’t filed your ITR yet, you should do it today to enjoy the perks of return filing before the due date.

31 July is the due date of ITR filing for salaried individuals and HUFs whose accounts don’t need to be audited. A number of professionals have been urging the Government to extend this due date for the last several days. However, it has not been extended as the Government expected that most of the returns would be filed by the due date today.

The Government’s stand against not extending the deadline has been proven correct till now as more than 5.1 crore returns have been already filed till now. On 30 July, more than 57 lakh returns were filed. It is expected that today around 60 lakh returns would be filed, taking the total count to over 5.6 crores.

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Some experts also think that the due date should not be permanently extended till August 31 or September 30. Doing so would lead to heavy traffic on the Income tax e-filing portal and taxpayers might end up facing more glitches while filing their returns.

“Extending Due dates permanently would not be a plausible option, especially considering the fact that the Individual tax filing due date is followed by Tax audit report filing due date i.e. 30th September and further by Tax audit return filing due date by 31st October for corporates and there are also other compliance due dates. Thus, further permanently extending the due date to 31st August or 30th September would cause heavy traffic on the portal and the taxpayers may further experience technical glitches,” said Dr Suresh Surana, founder, RSM India.

Instead of waiting for extension, taxpayers, especially salaried employees, should file their returns by the due date or as early as possible and enjoy the benefits of tax filing.

“Salaried employees should avoid late filing of tax returns as the interest u/s 234A, late filing fees u/s 234F, etc would be applicable. Further, set off and carry forward of losses (except house property loss) as well as claiming of certain deduction under Chapter VI-A under will not be allowed in case of filing of Belated Return,” says Dr Surana.

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