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Latest from income tax return

Attention taxpayers! Foreign income and assets to be disclosed by December 31

Ravi Agarwal, the chairman of CBDT said taxpayers who haven't disclosed their foreign income or assets in their ITRs have time till December 31 to do so

The income tax department is also in the process of sending SMS and emails to those who haven't disclosed high-value assets
Updated on Nov 19, 2024 12:39 PM IST

ITR deadline: Has income tax return deadline for audit cases been extended?

The Income Tax department had earlier, extended the deadline by 15 days from the original deadline of October 31, 2024

The Income Tax Department has not extended the November 15, 2024 deadline for filing income tax returns (ITR) by taxpayers subject to audit and also for other designated ones(Representative Image)
Published on Nov 16, 2024 03:35 PM IST

ITR deadline is November 15, 2024 for these taxpayers: Check details

The deadline to file income tax return (ITR) is November 15, 2024, for taxpayers subject to an income tax audit as well as some other designated taxpayers

This ITR submission is closely related to also submitting the tax audit report, with details in the report to be referenced in the ITR. Thus, the tax audit report must also be submitted before filing the ITR.
Published on Nov 13, 2024 03:14 PM IST

Income tax payers with over 1 crore of income rises five times in ten years

The number of taxpayers with over ₹1 crore of taxable income rose by over five times to 2.3 lakh in the assessment year 2023-24, compared to 44,078 in 2013-14

The number of salaried individuals with more than <span class='webrupee'>₹</span>1 crore income amounted to nearly 52% in AY2022-23. This was 49.2% in the year before and 51% in AY2013-14.
Published on Oct 23, 2024 04:48 PM IST

Deadline for income tax audit report extended: What is the last date now?

Income tax audit last date: Deadline to submit the income tax audit report is extended to October 7. Failure to submit may incur a penalty.

Income tax audit last date: The CBDT extended the deadline due to challenges faced by taxpayers in electronically filing audit reports under the Income-tax Act, 1961.
Updated on Sep 30, 2024 10:45 AM IST
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