ITR filing Deadline, The due date for filing Income Tax Returns (ITR) for the financial year 2022-23 is July 31, 2023 for most taxpayers. However, the due date for filing ITR for mall owners is different.
Mall owners are considered as “businesses” under the Income Tax Act, 1961. As such, they have to file their ITRs on or before September 30, 2023.
The penalty for late filing of ITR for mall owners is:
- Rs. 5,000 if the ITR is filed after the due date but before December 31, 2023.
- Rs. 10,000 if the ITR is filed after December 31, 2023.
To visit: https://www.incometax.gov.in
In addition to the penalty, mall owners may also be liable for interest on the taxes due. The interest rate is 1% per month or part of a month on the amount of tax due.
It is important to note that these are the general rules for filing ITRs. The specific due date and penalty may vary depending on the mall owner’s circumstances. For example, if the mall owner is a startup, they may be eligible for a different due date and penalty.
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