Income Tax

Income Tax Filing Last Date

Income Tax Filing Last Date

Last Updated : March 11, 2024, 3:26 p.m.

Filing Income Tax Returns (ITR) is a crucial financial responsibility for individuals, businesses, and various entities in India. The Income Tax Act, of 1961, specifies different due dates for filing returns based on the taxpayer’s category and requirements. In this article, we will explore the essential details regarding the last date for filing income tax returns.

Important Dates: Income Tax Filing Last Date

The primary deadline for filing income tax returns for individuals, Hindu Undivided Families (HUF), Association of Persons (AOP), and Body of Individuals (BOI) is July 31, 2024. It is imperative to meet this deadline to avoid late fees and penalties.

Belated Returns and Missed Filing

For individuals or entities filing belated returns or missing the regular filing deadline, the last date is extended to December 31, 2024. However, filing beyond the original due date attracts late filing penalties and interest, as specified by the Income Tax Authority.

Income Tax Filing Last Date: FY 2023-24 (AY 2024-25)

The due dates for various taxpayers and compliance requirements under the Income Tax Act are as follows:

  • 31 July 2024: ITR filing for Individual/HUF/AOP/BOI
  • 31 October 2024: Businesses requiring tax audit report
  • 30 November 2024: Transfer Pricing Report for specified transactions
  • 31 December 2024: Revised return filing
  • 31 December 2024: Belated or late return filing

Benefits of Filing ITR under the Due Date

  • Loan Approval: Timely ITR filing increases the chances of loan approvals for car loans, home loans, and other financial needs.
  • Address and Income Proof: ITRs serve as crucial documents for proving address and income when applying for loans or visas.
  • Visa Applications: Many consulates and embassies require the submission of ITR records for the past two years when applying for a visa.
  • Quick Refunds: Filing ITR on time facilitates faster processing of refunds.
  • Avoiding Penalties: Timely filing helps in avoiding penalties and late fees.
  • Interest Savings: As per Section 234A, interest is charged at 1% per month on delayed tax payments, emphasizing the importance of filing returns promptly.

Consequences of Missing the Due Date

  • Late Fee: Late filing attracts a late fee under Section 234F, with the penalty amount varying based on the total income.
  • Limitations: Failure to file within the due date restricts the ability to carry over losses from stock market investments, mutual funds, real estate, or businesses for future adjustments.


Meeting the deadline for filing income tax returns is crucial for financial compliance and availing various benefits. Timely filing not only avoids penalties but also enhances financial opportunities and simplifies the refund process. Individuals and businesses are advised to adhere to the due dates specified by the Income Tax Act to ensure a smooth and efficient tax filing process.

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