ITR filing date extended by one month, now returns can be filed till November 30
The Income Tax Department has extended the deadline for filing income tax returns for charitable religious institutions and professional institutions by one month to November 30. Apart from this, the Income Tax Department has also extended the date for submission of the audit report by one month. Know which form will be required by any fund trust institution or any university or educational institution.
The Income Tax Department has today extended the deadline for filing income tax returns for charitable trusts, religious institutions, and professional bodies. The Income Tax Department has extended the last date for filing returns by one month to November 30.
In addition to the last date for filing ITR, the Income Tax Department has extended the due date for furnishing of audit report in Form 10B/10BB by any fund, trust, institution, or any university or educational institution or medical institution for 2022-23 by one month to 31. Has been done till October 2023.
The Income Tax Department in a statement said that the due date for filing a return of income in Form ITR-7 for the assessment year 2023-24, which is 31.10.2023, has been extended to 30.11.2023
The Income Tax Department offers different ITR forms for different individuals and institutions. In such a situation, ITR-7 i.e. ITR Form 7, for institutions involved in charitable and religious activities, and research; is filed by the professional body.
Although July 30 was the last date to file ITR for all employed people, if you have forgotten to file your return, you can still file your return by paying a penalty.
Late filing of returns will attract a penalty of Rs 5,000 for those whose total income exceeds Rs 5,000,00. Whereas for those with total income up to Rs 5 lakh, the fine is Rs 1,000. If you file an ITR after December 31, 2023, you will have to pay a penalty of Rs 10,000.