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income tax return: The year 2022 will end on 31 December. In such a situation, the last date for completing many important tasks (Last Date for ITR) is also 31 December. Similarly, the last date for filing Revised Income Tax Return has also been fixed as December 31. year 2023 The benefit of Revised ITR (ITR Benefits) cannot be availed after the introduction of ITR.
As per the income tax rule, if someone has missed the date for filing Income Tax Return, then he can file belated ITR if there is a delay. This means that if someone has not filed ITR before July 31, 2022, then he will have to file belated ITR, the last date of which is December 31.
Revised ITR has to be filed by December 31
Similarly, if someone has made a mistake while filing ITR, he can rectify the mistake by filing revised ITR. The last date for filing both these types of ITR is December 31, 2022 and it is for the financial year 2021-22.
Delayed ITR Filing Process?
Delayed ITR is filed under section 139(4) of the Income Tax Act, 1961. However, the process of filing belated ITR is the same as filing income tax return. When you are filing belated ITR, then some things should be kept in your mind often. From selecting the form in the tax return, one should know about the penalty amount, interest rate and outstanding tax. Late ITR filers have to pay a fine of up to Rs 5000.
Revised ITR Filing Rule
Revised ITR is filed under section 139(5) of the Income Tax Act. Here also the filing process is similar to filing the original ITR. When any individual taxpayer files Revised ITR, he should keep in mind whether section 139(5) has been opted or not and also preserve the original ITR number, as it is required to file Revised ITR. takes place during
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