The Income Tax Department announced the extension of the last date for filing belated or revised income tax returns for the financial year 2023-24 till January 15, 2025.
Earlier, the last date for this submission for assessment year (AY) 2024-25 for resident persons was fixed as 31 December 2024.
The department made the announcement in a post on X, “CBDT (Central Board of Direct TaxesIn case of resident persons, the last date of return of delayed/revised income for AY 2024-25 has been extended from 31 December 2024 to 15 January 2025.”
Vivek Jalan, a partner at Tax Connect Advisory Services LLP, explained the importance of the expansion.
He said that for the financial year 2023-24, the last date for rectification by resident taxpayers was December 31, which was the last date for filing delayed or revised ITR. Now it has been extended till January 15, allowing these taxpayers to first match their books and then file their delayed/revised ITR accordingly, he told news agency PTI. Some leniency has been given for
The move gives taxpayers two more weeks to reconcile their financial records.