Today is the last date to file Income Tax Returns: The IT department advised taxpayers to file their tax returns before the deadline ends to avoid penalties and other consequences.

The e-filing portal has enabled the filing of ITR-1 and ITR-4 for FY 2022-23. Additionally, the Central Board of Direct Taxes (CBDT) has also issued an Excel source for ITR-1 and ITR-4.

The Income Tax Return filing for the Financial Year (FY) 2022-23 or Assessment Year (AY) 2023-24 has been made available on the Income Tax Portal. The commencement of the new financial year 2023-24 began on April 1, 2023. Taxpayers are required to file their income tax returns by July 31 for FY 2022-23.

The Assessment Year 2023-24 spans from April 1, 2023, to March 31, 2024, marks the beginning of the tax year. The Income Tax Return (ITR) filing process for this Assessment Year will commence after the conclusion of the 2022-23 financial year, which is after March 31, 2023.