ITR Deadline, The deadline for technical consultants to file their ITR for the assessment year 2023-24 is July 31, 2023. However, if you are a technical consultant who is subject to tax audit under section 44AB, then the last date for filing your ITR is October 31, 2023.
Section 44AB of the Income Tax Act, 1961 requires certain professionals, including technical consultants, to get their accounts audited if their total gross receipts during the financial year exceed Rs. 50 lakhs. If you are a technical consultant who is subject to tax audit, you will need to file your ITR within 30 days of the completion of the audit.
If you miss the deadline for filing your ITR, you will be liable to pay a late filing penalty. The late filing penalty is Rs. 500 for the first month of delay, and Rs. 100 for every subsequent day. The maximum late filing penalty is Rs. 1 lakh.
It is important to file your ITR on time to avoid penalties and other consequences. You can file your ITR online through the Income Tax e-filing portal.
To visit: https://www.incometax.gov.in
