ITR filing: Taxpayers who missed the deadline to file their belated or revised Income Tax Return (ITR) for the financial year 2024-25 in July 2024 were given a second opportunity to do so on Wednesday, January 15. The Central Board of Direct Taxes (CBDT) extended the deadline to January 15 to give these taxpayers some … Read more
The Income Tax Department has introduced a new feature on its e-filing portal that allows taxpayers to submit rectification requests online, even if their Income Tax Returns (ITRs) are currently being reviewed by the Assessing Officer (AO). This enhancement streamlines the process of error correction and eliminates the need for manual submissions. Taxpayers should be … Read more
ITR filing: The Income Tax Department has provided a significant update by allowing taxpayers who qualify for the section 87A tax rebate for the financial year 2023-24 to claim it now. In a notification issued on December 31, 2024, the tax department stated that eligible taxpayers will soon be able to submit a revised or … Read more
The Bombay High Court has instructed the Central Board of Direct Taxes (CBDT) to issue a notification extending the deadline for revised and belated Income Tax Return (ITR) filings until January 15, 2025. This extension applies only to taxpayers eligible for claiming the section 87A tax rebate. This is in response to a Public Interest … Read more
ITR 2024: Those who missed filing their income tax returns by July 31, 2024, still have an option to file it by December 31, 2024, for the financial year 2023-2024 / Assessment Year 2024-2025. The belated return is filed under Section 139(4) of the Income Tax Act, 1961. The belated return will attract interest under sections … Read more
Filing income tax returns (ITR) in time is crucial for taxpayers to not miss out on any benefits, but sometimes individuals miss the deadline for filing their returns. According to Section 139 (4) of the Income Tax Act, any ITR filed after this due date is referred to as a belated return. While this provision … Read more
ITR filing: As the deadline for filing Income Tax returns (ITR) draws near, individuals should be aware that failing to meet the deadline can result in serious consequences. The deadline for submitting income tax returns for the financial year 2023-2024 (Assessment Year 2024-2025) is July 31, 2024. If individuals miss the July 31 deadline, they … Read more
Income Tax Return Filing Last Date: The deadline to file Income Tax Returns for FY 2022-23 ends today. The tax department cautioned taxpayers who missed the July 31 date to file their ITR for financial year 2022-23 by December 31, especially those who need to update, or rectify their return errors. In a post on … Read more
The last chance for filing Income Tax Returns (ITR) for the financial year 2022-23 is no longer a distant deadline, but an immediate obligation as the year comes to a close. If you haven’t filed your ITR yet, December 31, 2023, is your final opportunity to do so but it comes with penalties and interest … Read more