Section 139 of the Income Tax Act pertains to the Return of Income, with Section 139(1) specifying the due dates for filing Income Tax Returns in various cases as outlined below:
(aa) For an assessee, including partners of a firm or the spouse of such a partner (if the provisions of section 5A apply to such spouse), who is required to furnish a report under section 92E, the deadline is the 30th day of November of the assessment year.
(b) For individuals other than a company, as mentioned in the first proviso to this subsection, the due date is the 31st day of October of the assessment year.
(c) For any other assessee, the due date is the 31st day of July of the assessment year.
Summarised in Below Table
| Category of Taxpayer | Due Dates – FY 2023-24 |
| Individual / HUF/ AOP/ BOI/AJP (If Tax Audit not applicable) u/s 139(1) | 31st July 2024 |
| Businesses (If Tax Audit applicable) u/s 139(1) | 31st October 2024 |
| Businesses requiring transfer pricing reports (in case of international/specified domestic transactions) u/s 139(1) | 30th November 2024 |
| Revised return u/s 139 (5) | 31 December 2024 |
| Belated Return u/s 139(4) | 31 December 2024 |
| Updated return u/s 139 (8A) | 31 March 2027 (2 years from the end of the relevant Assessment Year) |
New Change in Due Date to File Income Tax Return in FY 2023-24
Starting this year (2023-24 tax year), the new tax regime is now the default option for filing taxes. This means you’ll be automatically placed under the new regime unless you specifically choose the old regime. However, you still have the flexibility to opt for the old regime if it benefits you more. You can make this choice when you file your original income tax return (ITR) by the due date.
Here’s a breakdown of the key points:
- New regime as default: The new regime is the automatic option for everyone filing taxes.
- Option for old regime: You can still choose the old regime if it offers you better tax benefits.
- Choice window: You can make this decision when you file your original ITR.
Remember: It’s important to understand the differences between the old and new regimes before making your choice. Consider consulting a tax advisor for personalized advice on which regime is best for your situation.
That means if you want to opt for Old regime then you must file your Income Tax Return till below dates only:
| Category of Taxpayer | Due Dates – FY 2023-24 |
| Individual / HUF/ AOP/ BOI/AJP (If Tax Audit not applicable) u/s 139(1) | 31st July 2024 |
| Businesses (If Tax Audit applicable) u/s 139(1) | 31st October 2024 |
| Businesses requiring transfer pricing reports (in case of international/specified domestic transactions) u/s 139(1) | 30th November 2024 |
After above dates taxpayers will not be able to opt for old regime
