The Central Board of Direct Taxes (CBDT) has issued new guidelines for condonation of delay in filing income tax returns (ITRs) claiming refunds or carrying forward losses. These rules supersede all previous instructions. Here’s what taxpayers need to know: Power to accept/reject claims based on amounts Claims up to ₹1 crore: Principal Commissioners of Income […]
Record 7.28 crore ITRs filed for FY23-24 till July 31; over 5 crore opt for new regime – CNBC TV18
A record 7.28 crore Income Tax Returns (ITRs) were filed for the assessment year (AY) 2024-25 by the deadline of July 31, 2024. This marks a 7.5% increase compared to the 6.77 crore ITRs filed by the same date in the previous year, AY 2023-24. Surge in new tax regime filings A shift has been […]
Over 6.5 crore ITRs filed, but only 5.54 crore verified: How to verify your return – CNBC TV18
Today is the final day to file your Income Tax Return (ITR) for the assessment year 2024-25 without incurring a penalty. As of now, the number of individual registered users stands at 12.51 crore. Out of these, 5.54 crore returns have been verified, and 6.59 crore returns have been filed. Notably, 2.56 crore verified ITRs […]
Last day to file ITR for FY23-24 today: What happens if you miss this deadline – CNBC TV18
The deadline for filing income tax return (ITR) for the financial year 2023-2024 (assessment year 2024-2025) ends on Wednesday, July 31, 2024. Under income tax laws, filing ITR is an annual responsibility for every responsible citizen. It allows taxpayers to claim refunds for excess tax paid or deducted during the financial year. As the deadline […]
ITR filing: Know why your refund may be delayed and how to resolve it – CNBC TV18
The deadline for filing an Income Tax Return (ITR) for FY23-24 is July 31. While many taxpayers must have filed their returns well in advance, some may be experiencing delays in receiving their refunds. Several factors could be contributing to these delays, including: Invalid bank account details: According to Yeeshu Sehgal, Head of Tax Markets […]
ITR Filing for FY23-24: Last-Minute Tax Payment Tips
**ITR Filing for FY23-24: Last-Minute Tax Payment Tips** As the deadline for filing Income Tax Returns (ITR) for the financial year 2023-24 rapidly approaches, taxpayers are working hard to ensure they meet the cutoff. With only two days left, understanding the various methods of paying taxes and their associated transaction fees is crucial to avoid […]
Only three days left to file ITR for FY 2023-24 — Here’s how to do it yourself – CNBC TV18
Taxpayers have just three days left to file their Income Tax Returns (ITR) for the financial year 2023-24. With the deadline set for July 31, 2024, if you’re planning to file your return independently, here’s a guide to the some of the websites and a brief overview of how to use them. Income tax e-filing […]
ITR Filing: Experts say taxpayers unable to claim rebate under new regime if they have short-term capital gains – CNBC TV18
The income tax return (ITR) filing deadline is July 31. However, some taxpayers are encountering issues. Experts have highlighted that the tax filing utility on the income tax portal is not allowing a rebate under the new tax regime. Following an update to the tax-filing utility earlier this month, taxpayers under the new tax regime […]