File tax return by Dec 31 if you haven't yet, to avoid notice and penalty

Meeting that deadline will allow you to claim refund on excess tax deducted

Taxpayers who missed the July 31, 2022 deadline for filing their return must file a belated income-tax return (ITR) by December 31.

According to Ankit Jain, partner, Ved Jain & Associates, “This deadline applies to all types of taxpayers, including individual, corporate, audit, and non-audit.”

A belated return can be filed for the previous year any time three months prior to the expiry of the relevant assessment year, or before completion of assessment, whichever is earlier.

Maneet Pal Singh, partner, IP Pasricha & Co, says, “It provides an additional opportunity to those taxpayers who missed the deadline due to an