The Income-Tax Department introduced an extension for the deadline for filing belated or revised earnings tax returns for the fiscal yr 2023-24 to fifteenth January 2025.
Previously, the final date for resident people to make these submissions for evaluation yr (AY) 2024-25 was set at thirty first December 2024.
The division made this announcement in a put up onCentral Board of Direct Taxes) extends the final date for furnishing belated/revised return of earnings for AY 2024-25 within the case of resident people from December 31, 2024, to January 15, 2025.”
Vivek Jalan, a associate at Tax Connect Advisory Services LLP, clarified the importance of the extension.
He acknowledged that for the 2023-24 fiscal, the due date to make rectifications by resident taxpayers was December 31, which was the final date to file belated or revised ITRs. This has now been prolonged to January 15, giving some rest to those taxpayers to match with their books first after which file their belated/revised ITRs accordingly, he instructed information company PTI.
The transfer offers a further two weeks for taxpayers to reconcile their monetary data.
