Know who should file income tax returns for FY 2021-22. Understand if you are liable to file the return.

Income Tax Department has notified 7 various forms up till now i.e. Form ITR 1 to ITR 7 for filing Income Tax Return for different types of income and different types of entities. It is important that every taxpayer should file his/her Income Tax Return on or before the specified due date. In this article, we have mentioned all the Important ITR Filing Due dates for Individual, companies, LLPs and Firms, and HUFs for the FY 2021-22 (AY 2022-23).

What is ITR Filing??

An Income Tax Return or ITR as we may call it is a form where all the taxpayers has to declare their taxable incomes from all the sources. Not only this but the taxpayer shall also have to mention all the eligible deductions and tax payments if any, in the IT Return Form. Filing of this form with the Income Tax Department is call ITR Filing or Income Tax Return filing. Irrespective of the Accounting Year adopted by a taxpayer, he/she needs to file an Income Tax Return for a particular Financial Year (i.e. April to March).

ITR Filing for Private Limited Company and One Person Company

• It is mandatory for every company to file their Income Tax Return irrespective of the amount of income or loss in Form ITR 6 every year.
• However, companies claiming exemption under section 11 are not required to file an Income taxa Return.
• Also, all the companies are required to file Income Tax Return in Form ITR 7 Under section 139(4A) or 139(4B) or 139 (4C) or 139 (4D).

Due dates for ITR Filing for Companies (Private Limited Companies & OPCs) for FY 2021-22 (AY 2022-23)

• For the Companies that does 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 (AY 2022-23) for the companies that require audit is 31st October, 2022.
• The due date for the Tax Audit Report fling is 30th September, 2022.

Related Read: Company Annual Filing for FY 2021-22

ITR filing for Limited Liability Partnership for FY 2021-22

• It is mandatory for every Limited Liability Partnership (LLP) to file an Income Tax Report irrespective of the amount of income or loss in a particular Financial Year in Form ITR 5.

Due dates for ITR Filing for LLPs for FY 2021-22 (AY 2022-23)

• For the LLPs that does 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 October, 2022.
• The due date for the Tax Audit Report fling for LLPs requiring audit is 30th September 2022.

Income Tax return for Firms and HUF  

• Partnership Firms, Sole Proprietorship Firms, and HUFs having total income of up to 50 lakhs and having income from the business and profession which is computed under section 44AD, 44DA, or 44AE needs to file their Income Tax Return in Form ITR 4.
• The Hindu Undivided Families (HUFs) also need to file Form ITR 3 and ITR 2 for having and not having income from the profit and gains from the business or profession respectively.

Due dates for ITR Filing for Firms and HUFs for FY 2021-22 (AY 2022-23)

• The due date for Income Tax return filing for Firms and HUF for FY 2021-22 is 31st July 2022.

Table showing the Due dates for Income Tax Return and Audit report filing for different categories of taxpayers   for FY 2021-22 (AY 2022-23)

It is important for the taxpayers in India to make a note of all these due dates for Income Tax Return Filing for the Assessment Year 2022-23 (Financial Year 2021-22). However, the above-mentioned dates are subject to change and extension as and when notified by the Income tax Department of India.