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December 30, 2022

Know Option for Individual Tax Payer who failed to file Income Tax Returns by 31 December 2022

by CA Shivam Jaiswal in Income Tax

Know Option for Individual Tax Payer who failed to file Income Tax Returns by 31 December 2022

Individual Tax Payer Due Date For  A.Y.2022-2023 (F.Y.2021-2022) for all type of returns which they can file in any of the ITR forms
Individual Tax Payer Due Date For A.Y.2022-2023(F.Y.2021-2022)
 Particulars Original Income Tax Returns till 31 JulyRevised Income Tax Returns till 31 DecemberBelated Income Tax Returns till 31 DecemberUpdated Income Tax Returns 31 Mar 2025
Can Refund can be claimed in ITR?Yes  Yes  Yes  No  
Late fee Applicable u/s 234F as per Income Tax Act ?NoNoYes

Yes

Can Loss set off allowed?YesYesYesYes
Can Carry Forward of loss allowed?YesYesNoNo
Due dates for Individual Tax Payer31.07.202231.12.202231.12.202231.03.2025

The Taxpayers who have missed to file ITR by 31 July can always file by 31 December. However if the taxpayers have not filed by 31 December, then He has to wait for ITR -U i.e Updated Returns which will open for FY 2021-22 from 1 April 2023 till 31 March 2025

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