CBDT Announces Relief for the New Year: Extension of the Deadline for Filing Updated and Belated Returns
In an effort to assist resident taxpayers, the CBDT has extended the deadline for submitting amended or late income tax returns for AY 2024–2025 to January 15, 2025. Those who need to correct problems in their returns or who missed the original December 31 deadline are eligible for this extension. To avoid fines and interest, timely filing is crucial.
CBDT Announces New Year’s Relief: Deadline for Filing Updated and Belated Returns Extended
The Central Board of Direct Taxes (CBDT) has extended the deadline for filing updated and belated income tax returns for the Assessment Year 2024–2025, providing much-needed relief to taxpayers. This extension is effective through January 15, 2025, as per Circular No. 21/2024, released on December 31, 2024.
Who Benefits from This Extension?
This extension is a boon for:
- Taxpayers who missed the initial deadline: Those unable to file by December 31, 2024, now have an additional 15 days.
- Taxpayers needing to amend returns: Individuals who want to correct errors or omissions in previously filed returns can take advantage of this extension.
Key Points to Remember
- This extension is applicable only to resident taxpayers.
- The new deadline for updated and belated returns is January 15, 2025.
- Ensure returns are filed accurately to avoid penalties or interest charges.
What If You Miss the Extended Deadline?
If you are unable to file by January 15, 2025, consult a tax professional to understand your options and the implications of missing the deadline. Under specific circumstances, additional relief may be available.
Stay Informed
Keeping track of the latest announcements and circulars from the CBDT is crucial for staying compliant with tax regulations. Visit the official Income Tax Department website or consult a tax expert for accurate and updated information.
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Note-All the aforementioned information in the article is taken from authentic resources and has been published after moderation. Any change in the information other than fact must be believed as a human error. For queries mail us at marketing@myitronline.com
Krishna Gopal Varshney
An editor at apnokacaKrishna Gopal Varshney, Founder & CEO of Myitronline Global Services Private Limited at Delhi. A dedicated and tireless Expert Service Provider for the clients seeking tax filing assistance and all other essential requirements associated with Business/Professional establishment. Connect to us and let us give the Best Support to make you a Success. Visit our website for latest Business News and IT Updates.
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Krishna Gopal Varshney
An editor at Myitronline
Krishna Gopal Varshney, Founder & CEO of Myitronline Global Services Private Limited at Delhi. A dedicated and tireless Expert Service Provider for the clients seeking tax filing assistance and all other essential requirements associated with Business/Professional establishment. Connect to us and let us give the Best Support to make you a Success. Visit our website for latest Business News and IT Updates.
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