The Income Tax Department has extended the revised and belated income tax return (ITR) filing deadline to January 15, 2025 for Indian resident individuals. Individuals who have already filed an ITR on or before the deadline, they can file a revised ITR if required. Belated ITR is filed when the individual has not filed any ITR on or before the deadline and wants to file an ITR after the original deadline has passed. The original deadline to file an ITR for individuals was July 31, 2024.
Income Tax Return filing deadline extended
The Income Tax Department has specified the deadline has been extended only for Indian resident Individuals who wish to file a revised or belated income tax return (ITR).
"The Central Board of Direct Taxes (CBDT), in exercise of its powers under section 119 of the Income-tax Act,1961 ('the Act'), extends the last date for furnishing belated return of income under sub-section (4) of section 139 of the Act or for furnishing revised return of income under sub-section (5) of section 139 of the Act for the Assessment Year 2024-25 in the case of resident individuals from 31 st December, 2024 to 15th January, 2025," said CBDT in a circular dated December 31, 2024.
A taxpayer can file revised ITR only when a original ITR has been filed on or before the deadline i.e. July 31, 2024 for FY 2023-24. A belated ITR is filed when a taxpayer has missed filing any ITR on or before the deadline.
"Many tax payers received intimation for mismatch of transactions appearing in AIS and income/transactions reported in ITR. Extension will help taxpayer to check if any Income/Transactions is not reported/mis reported in ITR and file revised return," says Mihir Tanna, Associate Director, SK Patodia & Associates LLP, Chartered Accountants.
Bombay High Court orders ITR deadline extension
It is noteworthy that recently Bombay High Court directed the Central Board of Direct Taxes (CBDT) to extend the ITR filing deadline until the judgement for the 87A tax rebate case is announced.
In an order dated December 20, 2024, Bombay High Court said: "“…By way of interim relief, the respondent, Central Board of Direct Taxes is hereby directed to forthwith issue requisite notification under Section 119 of the Act extending the due date for e-filing of the income-tax returns in relation to the assessees who are required to file a return of income by December 31, 2024, at least to January 15, 2025. This extension is to ensure that all taxpayers eligible for the rebate under Section 87A are afforded the opportunity to exercise their statutory rights without facing procedural impediments.”
Chartered Accountant Himank Singla, partner, SBHS and Associates, says, "The extended deadline applies specifically and only to Resident Individuals. The original deadline of 31 December 2024 has been extended to 15 January 2025. etc
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