Deadline Extended: More Time for Taxpayers to File Revised Returns

The Income-Tax department has extended the deadline for filing belated or revised income tax returns for the 2023-24 fiscal year to January 15, 2025, giving taxpayers additional time to ensure accuracy before submission.

The Central Board of Direct Taxes (CBDT) has announced an extension of the deadline for resident individuals to file their belated or revised income tax returns for the 2023-24 fiscal year. The new deadline is now set for January 15, 2025, moving from the previous cutoff of December 31, 2024.

This decision offers some relief to taxpayers, providing them with additional time to reconcile their financial records accurately before submitting their income tax returns. Tax expert Vivek Jalan of Tax Connect Advisory Services LLP noted that this extension allows taxpayers the necessary leeway to ensure their books are in order before filing.

The adjustment reflects the CBDT's response to requests from taxpayers seeking more flexibility in managing their fiscal responsibilities. The move is expected to ease the pressure on resident taxpayers during the hectic financial year-end period.

(With inputs from agencies.)