New Delhi : The income tax department has pushed back the deadline for corporates to file income tax returns for assessment year 2024-25 by 15 days, now set for November 15. The Central Board of Direct Taxes (CBDT) announced in a circular that the deadline will be pushed beyond the original date of October 31. The updated due date for the Assessment Year 2024-25 (to submit tax returns for fiscal 2023-24) is November 15th.
Sandeep Jhunjhunwala, Tax Partner at Nangia Andersen LLP, explained that the extension would not affect the deadline for the Tax Audit Report, transfer pricing certification in Form 3CEB, and other income tax forms such as Form 10DA, which will still be due by October 31, 2024. Rajat Mohan, Senior Partner at AMRG & Associates, suggested that the CBDT's move to prolong the deadline for filing AY 2024-25 income tax returns, without providing a formal rationale, appears to coincide with the approaching festive period.
Mohan mentioned that by pushing the deadline to November 15, 2024, taxpayers and professionals can focus on accuracy and compliance without the pressure of rushing to file during festive times. Jhunjhunwala stated that the purpose of this specific extension is to make it easier for companies to adhere to regulations during busy times while still ensuring that vital audit documents are submitted on time. In September previously, the CBDT had pushed back the deadline for submitting tax audit reports by 7 days to October 7.
ALSO READ: भारतआव दिनै सनानि हार: 26 अक्ट'बराव नोंथांनि सोहोराव 22 केरेटनि बेसेनआ बेसे ?
FIRST Business Portal addressing the potential of business capability of North East Region.
