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Dear Friends,
Any idea why income tax return filing for FY 2024-25 [ enabling e-return filing] is delayed this year...
The delay in enabling e-return filing for Income Tax Return (ITR) for FY 2024-25 might be due to several reasons: -
*Backend Readiness*: The Income Tax e-Filing portal may still be undergoing updates and might not be ready for the new financial year. -
*Technical Processes*: The delay could be attributed to technical processes, given the lack of changes in tax law for FY 2024-25. -
*Utility Tools Development*: Utility tools like JSON/Java/Excels used by taxpayers and software vendors might still be under development, contributing to the delay. -
*Staggered Release Approach*: The Income Tax Department might be following a staggered release approach, where forms for certain categories (like ITR-1, ITR-2) are released first, followed by others.
It's essential to note that the deadline for filing ITR for FY 2024-25 is July 31, 2025, and taxpayers can file returns on or before this date to avoid late fees.
If you miss the deadline, you can file a belated return by December 31, 2025, with penalties.
There is no circular as of now.
AIS for the year FY2024-25 (Ay2025-26) in Income tax web site not updated at all. still showing Fy2023-24 transactions only.
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