Income Tax Deadline: Taxpayers can file an updated return before March 31 for THIS year, check details
3 weeks, 4 days ago

Income Tax Deadline: Taxpayers can file an updated return before March 31 for THIS year, check details

Live Mint  

Those taxpayers who want to updated their income tax return of previous two years can file an updated return before March 31. Although you can file the updated return anytime but it must be done within two years of the end of the relevant assessment year. This means those who want to update their return of assessment year 2022-23 or financial year 2021-22 must file an updated return before March 31, 2025. The provision of filing updated return was introduced in Finance Act 2022 when Finance Minister Nirmala Sitharaman announced the facility of updated return wherein taxpayers can file an updated return to correct mistakes or omissions.

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ITR deadline: Taxpayers can file updated returns for FY22, FY23 before March 31 | Check all details here
2 weeks, 5 days ago

ITR deadline: Taxpayers can file updated returns for FY22, FY23 before March 31 | Check all details here

India TV News  

ITR deadline: Taxpayers can file updated returns for FY22, FY23 before March 31 | Check all details here An updated return can be filed at any time, but it must be submitted within two years from the conclusion of the relevant assessment year; the provision for this was introduced by the Finance Ministry in the Finance Act 2022. An updated …

New Income tax bill 2025: MUST know tax refund rule during ITR filing
1 month, 1 week ago

New Income tax bill 2025: MUST know tax refund rule during ITR filing

Live Mint  

The introduction of the Income Tax Bill 2025 in the Lok Sabha sparked concerns among taxpayers about their eligibility for refunds if they file their Income Tax Return after the due date. “Dear @taxguru_in, As explained in our FAQs, there are no policy changes in the provisions related to Refunds in the new Income Tax Bill, 2025,” the Income tax …

New Income Tax Bill: Will taxpayers with late ITR filings lose refunds?
1 month, 1 week ago

New Income Tax Bill: Will taxpayers with late ITR filings lose refunds?

India Today  

Several taxpayers have raised concerns that if the income tax returns are not filed before the due date, they will not be eligible for a refund. IT DEPARTMENT'S CLARIFICATION The IT department said that under the Income Tax Act, 1961, taxpayers claiming refunds under Chapter XIX must file a return of income under Section 239. CONCERNS OVER THE NEW INCOME …

Employees cautioned against claiming deductions without proper document
1 month, 2 weeks ago

Employees cautioned against claiming deductions without proper document

The Hindu  

Important tax provisions and the Budget 2025-26 proposals related to the salaried employees were explained at an outreach programme organised by the Income Tax Department at the Bharat Heavy Electricals Limited complex on Thursday. If the updated return was filed within 12 months from the end of the relevant assessment year, an additional income tax of 25% with interest shall …

Income Tax: ITR(U) filing deadline extended to 48 months–Key details you need to know
1 month, 3 weeks ago

Income Tax: ITR(U) filing deadline extended to 48 months–Key details you need to know

Live Mint  

Did you miss reporting a particular income while filing your income tax return a few years ago -- say three years ago? You do not need to fret over this anymore since you can file a fresh tax return under the head of ITR to report that unreported income and pay the outstanding tax. Union Finance Minister Nirmala Sitharaman -- …

Updated tax returns: Budget 2025 offers a wider window to report omitted income
Trending News
1 month, 3 weeks ago

Updated tax returns: Budget 2025 offers a wider window to report omitted income

Live Mint  

In the Union Budget for 2022-23, India's finance ministry introduced the concept of updated tax returns to promote voluntary tax compliance. Taxpayers are required to file their income tax returns within four to six months from the end of the financial year. In essence, an updated return allows taxpayers to voluntarily declare omitted income even after the deadlines for belated …

Budget 2025: FM extends deadline to file updated ITR from two to four years
1 month, 3 weeks ago

Budget 2025: FM extends deadline to file updated ITR from two to four years

Live Mint  

In case you forgot to report some income while filing tax returns anytime in the past four fiscal years, Budget 2025 has good news. The timeline to file an updated income tax return has been increased to four years from two years starting April 2025. Under section 234B of the Income Tax Act, 1% interest on tax is payable every …

ITR Filing Deadline: What's the last date to file revised or belated ITR?
2 months, 1 week ago

ITR Filing Deadline: What's the last date to file revised or belated ITR?

Hindustan Times  

ITR Filing Deadline, January 15, 2025: Taxpayers who have not filed their belated or revised Income Tax Return or ITR for the financial year 2024-25 have a narrow chance to do the same on Wednesday, January 15. ITR Filing Deadline: The original deadline to file the income tax returns was July 31, 2024. “The Central Board of Direct Taxes, in …

ITR filing: Why you should file belated, revised tax returns by January 15
2 months, 1 week ago

ITR filing: Why you should file belated, revised tax returns by January 15

India Today  

As the financial year 2024-25 nears its close, taxpayers must take note of the upcoming deadline for filing belated and revised income tax returns. Taxpayers who missed the original income tax filing deadline need to submit a belated Income Tax Return to fulfil their tax obligations. Under Section 139 of the Income Tax Act, 1961, taxpayers can revise their returns …

Filing ITR: You can file updated income tax return for past two years before March 31. Check the rules that apply
2 months, 1 week ago

Filing ITR: You can file updated income tax return for past two years before March 31. Check the rules that apply

Live Mint  

If you somehow failed to file your income tax return for any of the past two years, you can still file an updated income tax return. Notably, the last date to file updated income tax return for 2021-22 is March 31, 2025. It can be filed in following cases: If the return was previously not filed or if the return …

Income Tax Deadline! Last one week to file revised, belated return
2 months, 2 weeks ago

Income Tax Deadline! Last one week to file revised, belated return

Live Mint  

Taxpayers must note that the deadline for filing a belated income tax return or submitting a revised return for the assessment year 2024-25 is fast approaching. Revised ITR If you have made an error in your initial income tax return filing, you can file a revised return under section 139 of the Income Tax Act. These are some of the …

Belated Income Tax Return: You can file it before Dec 31. Check details
3 months, 1 week ago

Belated Income Tax Return: You can file it before Dec 31. Check details

Live Mint  

If you missed filing your income tax return before July 31 then you do not need to fret! For the financial year 2023-24, while the last date of filing income tax return for individual taxpayers was July 31, one can file it before Dec 31 after paying a fee. If you are filing a belated income tax return then you …

Income Tax Deadline: Last one week left to file tax return for THESE taxpayers. Check details
4 months, 2 weeks ago

Income Tax Deadline: Last one week left to file tax return for THESE taxpayers. Check details

Live Mint  

Taxpayers who are meant to get their accounts audited have only one week left to file their income tax return for AY 2024-25. The last date to file income tax return for these taxpayers is November 15. The income tax department recently issued a statement that says that it's the last week left for taxpayers whose accounts are audited or …

ITR Filing 2024: What Happens If You Miss The July 31 Deadline? All About Belated ITR
7 months, 3 weeks ago

ITR Filing 2024: What Happens If You Miss The July 31 Deadline? All About Belated ITR

ABP News  

The deadline for filing Income Tax Returns is fast approaching, with the final date set for July 31 this year. If you miss the July 31 deadline for filing your ITR, you can still file a belated return by December 31, 2024. Missed Deadline Consequences If individuals fail to meet the July 31 deadline, they have until December 31, 2024, …

Filing Your Income Tax Return: Here Are Important Dates And Potential Penalties
8 months, 3 weeks ago

Filing Your Income Tax Return: Here Are Important Dates And Potential Penalties

ABP News  

July is a critical month for individual taxpayers as the deadline to file income tax returns for the financial year 2023-24, corresponding to the assessment year 2024-25, is July 31, 2024. Key Differences: Financial Year vs. Assessment Year The financial year spans from April 1 to March 31, during which income is earned. Understanding the Income Tax Return An ITR …

What If You Don't File Income Tax Return? Understanding The Financial And Legal Repercussions
9 months ago

What If You Don't File Income Tax Return? Understanding The Financial And Legal Repercussions

ABP News  

ITR Filing: A significant number of individuals either miss the deadline for filing their income tax returns or neglect to file them entirely, often due to a lack of awareness or sheer lethargy. Additionally, if the total tax deducted and collected is Rs 25,000 or more, or if aggregate deposits in savings accounts exceed Rs 50 lakh, filing a return …

Last day for filing Income Tax Returns for FY 2022-23 ends on December 31
1 year, 2 months ago

Last day for filing Income Tax Returns for FY 2022-23 ends on December 31

Live Mint  

Income Tax Return Filing Last Date: As the deadline approaches on December 31 for filing Income Tax Returns for the financial year 2022-23, taxpayers are strongly encouraged to take swift action and submit their returns by today. Should you miss the December 31 deadline for belated Income Tax Returns, you have the option to submit updated ITRs. The Finance Act …

What Happens If I Miss Deadline to File Income Tax Returns?
1 year, 7 months ago

What Happens If I Miss Deadline to File Income Tax Returns?

Deccan Chronicle  

July 31, Monday, marks the final day for taxpayers to file their Income Tax Returns for the financial year 2022-23. The Income Tax Department has been closely monitoring the situation and informed that its helpdesk is functioning 24x7 to provide additional support to handle the anticipated influx of taxpayers seeking assistance in the eleventh hour. The Income Tax Department has …

Income Tax Department Warns Taxpayers of Penalties for False Refund Claims
1 year, 8 months ago

Income Tax Department Warns Taxpayers of Penalties for False Refund Claims

Deccan Chronicle  

Hyderabad: The income-tax department has appealed to taxpayers to rectify false claims of refund, if any, by filing revised returns for the current assessment year and updated returns for the previous assessment year. Explaining the revised and updated returns, Chief Commissioner Shishir Agarwal said tax payers who had already filed their returns by making false claims of refund could submit …

Income Tax: Last day for late and revised ITR is December 31: Here’s what happens if you fail to file
2 years, 2 months ago

Income Tax: Last day for late and revised ITR is December 31: Here’s what happens if you fail to file

Live Mint  

Do not forget to file your income tax returns for financial year 2021-22 amid the festivities of the new year if you haven't already. Assessees must file belated ITRs under Section 139 of the Income Tax Act, 1961. While filing belated ITRs, taxpayers must ensure that they select Section 139 in the tax return form and that the applicable penalty …

Income Tax Return Filing AY 2022-23: December 31 Is Last Date For Filing Revised, Belated ITR
2 years, 3 months ago

Income Tax Return Filing AY 2022-23: December 31 Is Last Date For Filing Revised, Belated ITR

News 18  

Deadline For Revised and Belated ITRs: Now that 2022 is ending and the new year 2023 is going to start in about a week, the window for filing the revised or belated ITR is also going to be closed on December 31. So, if you could not file your income tax return by July 1, 2022, or had filed the …

Income Tax Return filing deadline today, taxpayers face technical difficulties
2 years, 4 months ago

Income Tax Return filing deadline today, taxpayers face technical difficulties

Firstpost  

Today is the last date for businesses to file their income tax returns for the assessment year 2022-2023. For the group of companies with the assessment year of 2022–2023, the Finance Ministry extended the deadline for filing an income tax return last month. For those whose accounts must be audited, the deadline for filing income tax returns has also been …

Income Tax: Forgot to file the I-T Return? Know about revised, belated and updated returns
2 years, 5 months ago

Income Tax: Forgot to file the I-T Return? Know about revised, belated and updated returns

Live Mint  

Income tax, IT department, income tax return, ITR filing- all of these terms can get confusing at at a point. Revised ITR Imagine that you hastily submitted your return before July 31, 2022, only to discover that you neglected to add some income and made a few mistakes.You can file a revised return in this situation to update your income …

Revised income tax return: Eligibility, deadline, other details you should know
2 years, 7 months ago

Revised income tax return: Eligibility, deadline, other details you should know

Live Mint  

ITR filing: Due date for unaudited income tax return filing is gone but those taxpayers who want to edit their return as they have filled some incorrect information in their ITR like use of wrong ITR form, wrong bank account number, etc., they still have an option to do that. As per the revised income tax rules, a taxpayer can …

Income Tax Return Filing AY 2022-23: Missed ITR Filing Deadline? Know What You Can Do
2 years, 7 months ago

Income Tax Return Filing AY 2022-23: Missed ITR Filing Deadline? Know What You Can Do

News 18  

ITR Filing AY 2022-23: The due date to file income tax return has already passed on July 31, Sunday. according to the government rule under the Finance Act, taxpayers can file income tax returns after the due date. Those who have already filed their income tax returns are also eligible to file a revised return if there was a gap …

ITR Filing Last Date for AY 2022-23 Nears: Will Govt Extend Deadline to File Income Tax Return?
2 years, 8 months ago

ITR Filing Last Date for AY 2022-23 Nears: Will Govt Extend Deadline to File Income Tax Return?

News 18  

ITR Filing for AY22-23: The Income Tax Department as well as the government have been repeatedly saying that the deadline to file income tax returns will not be extended beyond July 31, despite receiving requests from taxpayers and associations to do the same. #FileNow!Pl visit: https://t.co/GYvO3n9wMf #ITD pic.twitter.com/Kd5GVaeGb2— Income Tax India July 25, 2022 Not only the income tax department, …

Income Tax Rule Change Budget 2022: You can Update ITR Within 2 Years, What it Means
3 years, 1 month ago

Income Tax Rule Change Budget 2022: You can Update ITR Within 2 Years, What it Means

News 18  

Budget 2022 has tightened the income tax filing norms for regular taxpayers. They can update their income tax returns within two years from the end of relevant assessment year by paying an additional tax. New ITR Rule: What Changes after Budget 2022 According to the current income tax laws, an individual taxpayer gets time till December 31 of relevant financial …

Income Tax Return Filing: Did Not File ITR by Due Date? Keep this Deadline in Mind
3 years, 2 months ago

Income Tax Return Filing: Did Not File ITR by Due Date? Keep this Deadline in Mind

News 18  

ITR Filing Last Date: The Income Tax Department has not extended the due date to file income tax returns, or ITR, for taxpayers in the country. However, according to the government rule under the Finance Act, taxpayers can file income tax returns after the due date. Nearly 5.89 crore income tax returns for the 2020-21 fiscal have been filed on …

What Happens if You Miss Your Tax Return Date?
4 years, 2 months ago

What Happens if You Miss Your Tax Return Date?

News 18  

If you are still thinking about filing your Income Tax Returns, then hurry, as the last date is fast approaching. In light of the coronavirus pandemic, the deadlines to file tax returns for the financial year 2019-20 were extended multiple times to December 31, 2020, from the usual due date of July 31, 2020. But for small taxpayers, with income …

Tax return forms to be revised after extension of deadlines
4 years, 11 months ago

Tax return forms to be revised after extension of deadlines

Live Mint  

The Central Board of Direct Taxes said on Sunday it will revise the tax return forms to be filed in 2020-21 so that tax payers are able to make investments and donations till end of June, the benefit of which could be claimed on the taxable income of FY20. CBDT said in a statement that the government has extended the …

Check your ITR and revise it if you’ve made a mistake
5 years, 6 months ago

Check your ITR and revise it if you’ve made a mistake

Live Mint  

The due date to file the income tax return for assessment year 2019-20 got over on 31 August. But the good news is that you get an opportunity to go through the returns you have already filed and also make corrections if you discover any mistakes or omissions by filing a revised return. The window to file a revised ITR …

Pitfalls of not filing ITR within the due date
6 years, 8 months ago

Pitfalls of not filing ITR within the due date

Live Mint  

If you fail to file the tax return within the stipulated due date, 31 July, you may have to face multiple consequences. Filing a tax return after the due date is known as belated tax return and in such cases some of the benefits get seized. If you fail to file your tax return before due date, you can still …

Missed March 31 to file ITR deadline? Here's what you can do
6 years, 11 months ago

Missed March 31 to file ITR deadline? Here's what you can do

India TV News  

The deadline to file the Income Tax Returns for Financial Year 2015-16 and 2016-17 was March 31, 2018. The income tax department can allow taxpayers to file returns post the deadline for specific cases. The Central Board of Direct Taxes has issued a circular in this regard where if any taxpayer has tax refund pending or wish to carry forward …

CBDT warns of penal action if I-T returns are 'drastically' changed
8 years, 3 months ago

CBDT warns of penal action if I-T returns are 'drastically' changed

India TV News  

The Central Board of Direct Taxes today cautioned tax payers against misusing the provisions of revised tax returns for past years to pass off their undisclosed income. The CBDT pointed out after the government’s November 8 decision to demonetise higher denomination currency, some taxpayers may misuse this provision to revise the return filed by them for the earlier assessment year …

Income Tax Dept warns against misuse of return revision provision
8 years, 3 months ago

Income Tax Dept warns against misuse of return revision provision

The Hindu  

The Income Tax Department on Wednesday warned taxpayers that any attempt by them to alter their tax returns to reflect a much higher amount would invite the scrutiny of the Department and the possibility of prosecution. "It is brought to the notice of tax payers that any instance coming to the notice of the Income Tax Department which reflects manipulation …

What if you do not meet the 31 August tax deadline?
9 years, 8 months ago

What if you do not meet the 31 August tax deadline?

Live Mint  

This year, the deadline to file income tax returns has been extended to 31 August from 31 July. Under the income tax law, if you don’t file your ITR within the deadline, you can still file returns within two years from the end of the relevant financial year. However, for filing late returns you may have to pay a penalty …

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