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CBDT Extends ITR Filing Deadline for Corporates by 15 Days Till November 15
CBDT Extends October 31 Deadline
In a considerable growth for taxpayers, the Central Board of Direct Taxes (CBDT) has actually revealed an expansion for the due day of declaring Income Tax Returns for the Assessment Year 2024-25.
In a notice provided under area 119 of the Income- tax obligation Act, 1961, the due date for assessees referenced in provision (a) of Explanation 2 to sub-section (1) of area 139 has actually been relocated from October 31, 2024, to November 15, 2024.
Corporates currently have up until November 15, 2024, to submit their tax return.
Nangia Andersen LLP Tax Partner Sandeep Jhunjhunwala stated this expansion would certainly not put on the Tax Audit Report, transfer prices qualification in Form 3CEB and various other revenue tax return like Form 10DA, for which the due date would certainly continue to be October 31, 2024.
CBDT Extends Due Date for providing Return of Income for Assessment Year 2024-25. ✅The due day for assessees under provision (a) of Explanation 2 to Sub Section (1) of Section 139 has actually been expanded from October 31, 2024, to November 15, 2024.
✅Circular No 13/2024 outdated … pic.twitter.com/rstiKeYCEA
— Income Tax India (@IncomeTaxIndia) October 26, 2024
Jhunjhunwala included, “This targeted extension seeks to facilitate compliance during a peak period while upholding the timely submission of critical audit documentation”.
The CBDT’s action straightens with its continuous initiatives to boost taxpayer conformity while making sure that people have appropriate time to satisfy their commitments.
Earlier in September, the CBDT had actually expanded the due day for submitting tax obligation audit records by 7 days till October 7.
