ITR filing last date 2023: What happens if you miss July 31 ITR filing deadline

The due date for filing federal tax returns is the IT return last date without incurring a late charge or extra charge. Taxpayers who file their returns after the due date must incur interest and a levy under sections 234A and 234F.

It is important for all taxpayers to keep in mind the deadline for filing their income tax returns. The due date depends on the taxpayer. Salaried entities, for example, are normally expected to file their income tax returns by July 31st, while corporations subject to audit can file their returns by September 31st of the assessment year.