In a major relief for taxpayers, the Central Board of Direct Taxes (CBDT) has extended the due date for filing Income Tax Returns for the Assessment Year 2024-25.
Through a notification under section 119 of the Income-tax Act, 1961, the deadline for assessees specified in clause (a) of Explanation 2 to sub-section (1) of section 139 has been shifted from October 31, 2024, to November 15, 2024.
Corporates now have until November 15, 2024, to file their income tax returns.
Sandeep Jhunjhunwala, Tax Partner at Nangia Andersen LLP, clarified that this extension does not apply to the Tax Audit Report, transfer pricing certification in Form 3CEB, and other forms like Form 10DA, for which the deadline remains October 31, 2024.
Jhunjhunwala stated, “This targeted extension aims to ease compliance during a peak period while ensuring the timely submission of essential audit documentation.”
This move by the CBDT reflects its ongoing commitment to enhancing taxpayer compliance while allowing sufficient time to meet obligations. Previously, in September, the CBDT extended the due date for filing tax audit reports by seven days to October 7.
Souece: news18
Read the latest and breaking Hindi news | English News on अब पाएं सबसे निष्पक्ष, विश्वसनीय और तेज खबरें, सिर्फ WWW.THEINSIGHTTODAY.COM पर।. Get live Hindi news about India and the World from politics, sports, bollywood, business, cities, lifestyle, astrology, spirituality, jobs and much more..Read Latest News on your Mobile app so Download Mobile app The Insight Today