CBDT Extends Due Date for furnishing Return of Income for Assessment Year 2024-25.

The Income Tax Department has taken a big decision on Saturday, under which a big good news has been received for the corporates.

The Income Tax Department has extended the deadline for filing income tax returns by corporates for the assessment year 2024-25 by 15 days. That is, now corporates have got additional time to file income tax returns (ITR).

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The last date of Central Board of Direct Taxes (CBDT) was till now 31st October, which has now been extended. After this increase, the new last date for filing income tax returns for corporates has become 15th November. In this way, corporates have got 15 days extra time to file income tax returns.

CBDT Extends Due Date for furnishing Return of Income for Assessment Year 2024-25.

✅The due date for assessees under clause (a) of Explanation 2 to Sub Section (1) of Section 139 has been extended from October 31, 2024, to November 15, 2024.

✅Circular No. 13/2024 dated… pic.twitter.com/rstiKeYCEA

— Income Tax India (@IncomeTaxIndia) October 26, 2024

Sandeep Jhunjhunwala, Nangia Andersen LLP Tax Partner, told news agency Bhasha that this extended period for filing tax returns will not apply to tax audit reports. Earlier in September, the CBDT had extended the last date for filing tax audit reports by seven days to October 7.

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