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If you are a taxpayer in India, you are required to file your income tax return by the following deadlines:
- Individuals and Hindu Undivided Families (HUFs): 31st July of the assessment year (AY), which is the financial year (FY) plus one.
- Companies and other business entities: 30th September of the AY.
For example, the deadline for filing income tax returns for FY 2022-23 (AY 2023-24) is 31st July 2023 for individuals and HUFs, and 30th September 2023 for companies and other business entities.
There are a few exceptions to these deadlines. For example, taxpayers who are residents outside of India have until 31st December of the AY to file their returns. Taxpayers who are required to file an audit report have until 30th November of the AY to file their returns.
If you miss the deadline for filing your income tax return, you may be liable to pay a penalty. The penalty is Rs. 5,000 if you file your return within one year of the deadline, and Rs. 10,000 if you file your return more than one year after the deadline.
It is important to file your income tax return on time to avoid paying penalties. You can file your return online or offline. If you are filing your return online, you can do so on the Income Tax Department’s website. If you are filing your return offline, you can submit it to the Income Tax Department in person or by post.
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