Filing your Income Tax Return (ITR) on time is important to avoid penalties and interest. But which deadline applies to you? That depends on who you are and how your income is handled. Here’s a simple breakdown:
Table of Contents
July 31 — Most People
If you’re someone with a salary, or you’re self-employed but your accounts don’t need auditing, this is your deadline.
👉 This applies to most people.
October 31 — For Business Owners Who Need Auditing
If you run a business or are a professional and your income records need to be audited (checked by a CA), you get more time.
👉 Your last date is October 31.
November 30 — For Big Companies with International Transactions
If your company does international business or special deals that require transfer pricing reports, you get until November 30.
December 31 — Final Chance
If you missed your deadline, you can still file by December 31. But:
You’ll have to pay a late fee
₹5,000 if your income is above ₹5 lakh
₹1,000 if it’s below ₹5 lakh
Why Should You File On Time?
You avoid late fees and extra charges
Your tax refund (if any) comes faster
It helps when applying for a loan, visa, or job
You stay on the safe side with the law
So, check which group you’re in and mark your date. Filing your taxes on time keeps things smooth and stress-free.
Want a gentle reminder near the deadline? Just say the word!
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