If taxpayers do not file their ITRs by July 31, they may face a Rs 5,000 penalty

The deadline to file an ITR for the fiscal year 2021-22 is July 31, 2022. Unlike in prior years, the deadline for filing ITRs for the fiscal year 2022-23 may not be extended this year. Over 2.3 crore income tax returns were filed by July 20 for fiscal 2021-22, and the government is not considering extending the deadline for ITR filing for fiscal 2022-23.

The filing of an Income Tax Return (ITR) is for the prior year’s income, hence the assessment year for the fiscal year 2021-22 is 2022-23.

Failure to submit ITR for 2022-23 by July 31, 2022, will result in a fine and interest on any unpaid taxes for the year 2021-22. “If you fail to file your ITR by the due date, you can file a late return by December 31, 2022.” “A penalty of Rs. 5,000 is assessed if the return is filed beyond the due date but before December 31, 2022,” says Deepak Jain, CEO of, a tax e-filing and compliance management portal.

Section 234F requires a late filing charge of Rs. 5,000 if the ITR is filed beyond the due date. However, if the person’s total income does not exceed Rs.5 lakh, the number of late filing costs to be paid must be Rs 1,000.

If you are not required to file ITR but choose to do so, you may do so even beyond the due date. In such a circumstance, no late filing charge under section 234F is imposed if you are not compelled to file an ITR under section 139 but do so voluntarily after the due date.

According to the income tax rules, any person who has not furnished a return of income within the period allowed under section 139(1) or within the time allowed under a notice issued under section 142(1) may furnish a return for any previous year at any time 3 months before the end of the relevant assessment year or before completion of the assessment, whichever is earlier.

As a result, filing ITR by the due date of July 31 may not result in an extension, and it is advisable to file now rather than at the tail end of the tax filing season.

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