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New Delhi: The deadline to file your Income Tax Return (ITR) for the financial year 2024-25 (assessment year 2025-26) has been extended to September 15, 2025. This gives taxpayers an extra 46 days beyond the original July 31 deadline, offering more time to gather documents, review financial details, and complete the filing process without rushing….
The new Income Tax Bill, 2025, passed by the Lok Sabha, clarifies that late-return filers are eligible for refunds on excess taxes deducted in a financial year. Analysts said on Tuesday that the bill was missing the proposal to eliminate the requirement for small taxpayers to file returns just to claim tax refunds. The new…
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New Delhi: With the income tax return (ITR) filing date extended to September 15, taxpayers have more time to decide whether to choose the old or new tax regime. Salaried employees or pensioners without business income can change their tax regime at any time prior to filing their ITR every year by simply selecting the…
New Delhi: In May, the Central Board of Direct Taxes (CBDT) had announced that the deadline for filing income tax returns (ITRs) for non-audit cases for AY 2025-26 has been extended from July 31, 2025, to September 15, 2025. Choosing the right tax regime is crucial from the perspective of tax planning for taxpayers who…
New Delhi: Central Board of Direct Taxes (CBDT) has announced Relaxation of time limit for processing ofreturns of income filed electronically which were incorrectly invalidated by CPC. CBDT has said that CPC Bengaluru has received grievances regarding erroneous invalidation, due to various technical reasons, while processing the returns filed electronically for different assessment years. The…
New Delhi: The average number of days it takes for taxpayers to get refunds from the Income Tax Department in India has come down drastically from 93 days in 2013 to a mere 17 days in 2024, reflecting the increased efficiency in the system on the back of rising digital infrastructure that enables faceless online…
The ITR or income tax filing is a crucial annual financial task that needs to be taken care of by many salaried and self-employed professionals. The income tax filing season for 2024-25 has started. If you earn above a certain limit, you need to file your tax returns. Filing income tax returns can be confusing,…
New Delhi: Central Board of Direct Taxes (CBDT) has in its latest circular has said that electronically filed valid returns of income filed u/s 139 of the Act for Assessment Years (AY) 2023-24, for which date of sending intimation has lapsed, shall be processed now and intimation shall be sent to the assessee concerned by…
No news Business Now You Can File ITR, Income Tax Department Has Released ITR 1 And ITR 4 Forms, You Can File Return Till September 15 New Delhi4 minutes ago Copy link The Income Tax Department has released the Excel Utility version of ITR-1 and ITR-4 forms for Financial Year 2024-25 or Assessment Year 2025-26….