The Central Board of Direct Taxes (CBDT) has granted an extension for Income Tax Return (ITR) filings for the Assessment Year 2024-25. This extension specifically benefits taxpayers who are required to submit a report under Section 92E of the Income-tax Act, relating to transfer pricing. The new deadline is now December 15, 2024, extended from the original date of November 30, 2024, following requests from taxpayers and professionals.
The due date for furnishing the return of income u/s 139(1) of the Income-tax Act,1961 (the Act) in the case of an assessee who is required to furnish a report referred to in section 92E, is the 30th day of November of the assessment year i.e. 30.11.2024 for the AY 2024-25.
However, in a major reli
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FAQ :
The deadline for filing Income Tax Returns (ITRs) for taxpayers required to furnish a report under Section 92E has been extended to December 15, 2024.
This extension is for taxpayers who are required to furnish a report referred to in Section 92E of the Income-tax Act, 1961, which deals with transfer pricing.
The original due date for furnishing the return of income for these taxpayers was November 30, 2024.
This extension applies to the Assessment Year (AY) 2024-25.
The extension was announced by the Central Board of Direct Taxes (CBDT).