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ITR Last Date Extension AY 2023-24: Is there plan to extend Income Tax Return Due Date? Latest update

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ITR (Income Tax Return) Filing Last Date/Due Date Extension AY 2023-24 Latest News Update (July 18): There is no plan to extend the due date of ITR filing for Assessment Year 2023-24. The due date of ITR filing for income earned in FY 2022-23 is July 31 for taxpayers whose accounts don’t need to be audited. The last date to file ITR this year is December 31.

December 31 is the date by which taxpayers can file belated ITR along with a late fee. However, there is no fee for filing ITR by July 31. As the Government is not planning to extend the due date this year, it is recommended that eligible taxpayers file their returns by or before July 31.

Taxpayers should not wait for an extension of the due date this year. The Government is expecting more returns to be filed this year. As of July 17, the number of returns filed is higher than the ITRs filed in the same period last year.

Last week, Revenue Secretary Sanjay Malhotra said all assessees, whose accounts don’t need to be audited, should file their returns at the earliest. He also said that the finance ministry was not contemplating an extension of the July 31 deadline (Read details here).

Latest ITR filing updates on July 18

Total ITR filed

Over 2.8 crore ITRs have been filed till July 17. As per data on the e-filing website, as many as 2,88,50,338 income tax returns were filed till July 17.

Total ITRs processed

More than 1.3 crore returns have been processed by the Income Tax Department. Data shows as many as 1,33,89,946 verified returns for AY 2023-24 were processed till July 17.

Total ITRs verified

More than 2.6 crore returns have been verified by taxpayers. The Income Tax department’s data shows as many as 2,64,97,939 returns for AY 2023-24 were verified till July 16.

Why you must file ITR before July 31

There are multiple benefits of ITR filing before the July 31 deadline. It not only helps taxpayers in avoiding the last-minute rush but also in early processing of refunds. many taxpayers have already received their refunds this year. And there are some more benefits. Read here



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