New Delhi,31,December 2024, The Central Board of Direct Taxes (CBDT) has extended the deadline for filing belated or revised Income Tax Returns (ITR) for the Assessment Year 2024-25. Resident individuals now have until January 15, 2025, to submit their returns, an extension from the earlier deadline of December 31, 2024.
This decision follows a directive from the Bombay High Court aimed at ensuring taxpayers can fully benefit from the tax rebate provisions under Section 87A of the Income Tax Act. However, the extended timeline applies exclusively to resident individuals. Non-residents, Hindu Undivided Families (HUFs), firms, LLPs, and companies remain subject to the original deadlines.
Taxpayers are advised to use this additional time to review their returns thoroughly and submit them promptly to avoid last-minute complications. The CBDT’s move underscores its commitment to accommodating genuine taxpayer concerns while ensuring compliance.
