Missing the December 31 deadline for filing income tax returns (ITR) can have consequences such as penalties, interest on taxes owed, and a delay in receiving potential refunds.
ITR Filing Last Date: There’s a buzz that the Central Government might extend the deadline to file the ITR for FY2023, or assessment year (AY) 2023-24. However, the Central Board of Direct Taxation (CBDT), as of now, has not indicated or made any announcement in this regard. Thus, it is most likely that the deadline to file the ITR for FY23 will end on July 31., Personal Finance News, Times Now
Read below to find out how people who work as consultants and freelancers file their income tax returns (ITR) online on the e-filing website. Do note that income tax rules for consultant and freelancers incomes are different than those for salaried individuals. A consultant is eligible for certain business expenses that salaried individual cannot claim.