ITR filing in January: The Central Board of Direct Taxes (CBDT) has announced an extension of the deadline for resident individuals to file belated and revised Income Tax Returns (ITRs) for the assessment year (AY) 2024-25. The new deadline is now January 15, 2025, instead of the previous deadline of December 31, 2024. Individuals who … Read more
The Central Board of Direct Taxes (CBDT), earlier this month, issued a notification on the process of scrutiny of income tax returns (ITR) of taxpayers. Under the new guidelines, taxpayers can know why their ITRs have been shortlisted for scrutiny or closer examination for FY 2024-25. The CBDT has also outlined a number of cases … Read more
The Central Board of Direct Taxes (CBDT) has issued the guidelines for compulsory selection of income tax returns for scrutiny for the fiscal year under which it has outlined a number of cases that would be taken up. While the guidelines are largely in line with those of previous years, experts noted that the CBDT continues … Read more