ITR Filing Deadline Extended: I-T Dept extended the last date of income tax filing by 15 days

ITR Filing Deadline Extend: The income tax department has announced a 15-day extension for corporates to file their income tax returns, moving the deadline to November 15 for the assessment year 2024-25. According to a circular from the Central Board of Direct Taxes (CBDT), the new deadline replaces the original date of October 31.

This extension applies to the filing of tax returns for the fiscal 2023-24, now due on November 15.

Sandeep Jhunjhunwala, a tax partner at Nangia Andersen LLP, noted that this extension does not apply to the Tax Audit Report, transfer pricing certification in Form 3CEB, or other forms such as Form 10DA,  for which the deadline would remain October 31, 2024.

Rajat Mohan, Senior Partner at AMRG & Associates, commented that while the CBDT did not provide an official rationale for the extension, it appears to coincide with the upcoming festive season.

"By extending the deadline to November 15, 2024, taxpayers and professionals alike can prioritise accuracy and compliance without the stress of last-minute filings amidst celebrations," Mohan said.

Jhunjhunwala said, "This targeted extension seeks to facilitate compliance during a peak period while upholding the timely submission of critical audit documentation".

Previously, in September, the CBDT had extended the deadline for filing tax audit reports by 7 days to October 7.

With PTI Inputs