Due date to file Income Tax Return ( ITR) for persons who are not covered under any type of Audit for the financial year 2023-24 (Assessment year 2024-25) without penalty is 31st July 2024.
Due date to file Income Tax Return (ITR) for persons who is covered under any type of Audit for the financial year 2023-24 ( Assessment year 2024-25) without penalty is 31st October 2024.
If a Partnership firm is covered under audit, then last date to file ITR of their partner would be 31st October 2024 and not the 31st July 2024.
Last date to file ITR of Director of company is 31st July 2024. here even if company is covered in any type of audit still last date to file ITR of Directors would be 31st July 2024 only.
Note-1: Losses if incurred by business during the FY 2023-24, then carry forward of these losses would be allowed only if ITR is filed within due dates i.e. 31st July 2024 if that business is non audited and within 31st October 2024 if audited.
Note-2: After filing due date of ITR, you have to pay Interest 1% per month and Penalty of Rs.5000, if Total Income exceeds Rs.5 Lakhs in Old Scheme & Rs. 7 Lakhs In New Scheme.