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 relief to taxpayers, the Central Board of Direct Taxes (CBDT) has announced an extension of the due date for filing Income Tax Returns (ITRs) for Assessment Year (AY) 2024-25. The extension applies to taxpayers required to furnish a report under Section 92E of the Income-tax Act, 1961, which primarily deals with transfer pricing.
As per Circular No. 18/2024, issued on November 30, 2024, the deadline for filing ITRs under Section 139(1) has been extended from November 30, 2024, to December 15, 2024. This decision comes in response to demands from taxpayers and professionals for additional time to comply with the reporting requirements.
Official copy of the circular is as follows
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