Online ITR Filing for FY 2021-22 (AY 2022-23)

Up till now, the Internal Revenue Service (IRS) has issued seven separate forms, ranging from Form ITR 1 to Form ITR 7, for submitting income tax returns for various types of income and companies. 

Every taxpayer must file his or her income tax return on or before the deadline. 

Now, what is ITR filing?

An Income Tax Return or say ITR as we may call it is a form where every taxpayer has to declare their taxable incomes from all the sources. 

And not only this but the taxpayer shall also need to mention all the eligible deductions and tax payments if any, in the IT Return Form. 

Filling this form with the Income Tax Department is called ITR Filing or Income Tax Return Filing. So, irrespective of the Accounting Year adopted by a taxpayer, he/she needs to file an Income Tax Return for a particular financial Year (like April to March).  

Filing an ITR for a Private Limited Company and a One-Man Company

• Every year, regardless of the amount of income or loss, every firm is required to file a Form ITR 6 Income Tax Return.
• And the companies claiming exemption under section 11 are not required to file an Income tax Return as well.
• Even, the companies are needed to file an Income Tax Return in Form ITR 7 under section 139(4A) or 139(4B) or 139 (4C) or 139 (4D).

The due date for ITR filing for Companies (Pvt. Ltd Companies & OPCs) for FY 2021-22 (AY 2022-23) 

• For the companies that do not require an Audit the due date for ITR Filing for FY 2021-is 22 31st July 2022
• The due date for The Audit Report filing is 30th September 2022.
• And the due date for ITR filing for FY 2021-22 (ay 2022-23) for the companies that require audit is 31st October 2022.

ITR filing for Limited Liability Partnership 

• Regardless of the amount of income or loss in a given Financial Year, every Limited Liability Partnership (LLP) is required to file an Income Tax Report in Form ITR 5.

Dates for ITR filing for LLPs for FY 2021-22 (AY 2022-23)

• for the LLPs that do not require Audit the due date for ITR filing for FY 2021-22 is 31st July 2022
• the due date for ITR filing for FY 2021-22 for the LLPs that require audit is 31st Oct 2022
• And the due date for the Tax audit Reporting filing for LLPs requiring audit is 31st Sep, 2022 as well

All about Income tax returns for firms and HUF

• Partnership firms, sole proprietorship firms, and HUFs with a total income of up to 50 lakhs and income from a business or profession computed under section 44AD, 44DA, or 44AE must file Form ITR 4 with the IRS.
• Hindu Undivided Families (HUFs) need to file form an ITR 3 and ITR 2 for having and not having income from the profit and gains from the business or profession respectively as well. 

Important dates for ITR Filing for firms and HUFs for FY 2021-22 (AY 2022-23)

• Firms and HUFs have until July 31, 2022, to file their income tax returns for the fiscal year 2021-2022.

For the fiscal years 2021-22, the table below shows the due dates for filing income tax returns and audit reports for various taxpayer groups (AY 2022-23)

Category of Taxpayer	Due Date for ITR filing for FY 2021-22	Due date to file audit report for FY 2021-22
Businesses (Audit cases including Private Limited Company, OPC, LLPs, and firms)	31st October 2022	30th September, 2022
Business (Non-Audit cases including Private Limited Company, OPC, LLPs, and firms)	31st July 2022	–
Association of Persons (AOP)	31st July 2022	–
Body of Individuals (BOI)	31st July 2022	–
Individual	31st July 2022	–
Trusts, colleges, political parties (Audit Cases)	31st October 2022	30th September, 2022
Trusts, colleges, political parties (Non-Audit Cases)	31st July, 2022	–
Report to be filed u/s 92E	31st October 2022	–
Furnishing of Income Tax Return in case of Transfer Pricing	30th November, 2022	–
Revised Return	31st December, 2022	–
Belated/Late Return	31st December, 2022	–

NOTE:

It is critical for Indian taxpayers to keep track of all of these criteria for filing their income tax returns for the Assessment Year 2022-23. (Financial Year 2021-22).

The above-mentioned dates, however, are subject to revision and extension as and when the Income Tax Department of India notifies them.