The last date for filing ITR for income tax individual taxpayers was July 31. Despite the speculations, the Income Tax Department did not extend the date. But the last date for filing returns for companies has been extended to November 7.
The Finance Ministry on Wednesday extended the deadline for filing Income Tax Return (ITR) by businesses for the assessment year 2022-23 to November 7. For companies that are required to get their accounts audited, the last date for filing ITR was October 31. This decision of the government can be seen as a relief to the companies.
The Central Board of Direct Taxes ( CBDT) in a notification said that since it had extended the deadline for filing audit reports last month, the due date for filing ITR has also been extended.
ITR filing limit extended
The CBDT in the notification said that the date of submission of income statement under sub-section (1) of section 139 of the Act for the assessment year 2022-23 is being extended. Earlier, the last date for filing ITR for companies was October 31, 2022. The new date is November 7, 2022.
Relief to companies
Domestic companies are required to file their income tax returns for the financial year 2021-2022 by October 31, 2022. For companies that are subject to transfer pricing norms, the due date for filing ITR will be November 30, 2022. Last month, the CBDT extended the deadline for filing audit reports by 7 days to October 7.
