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As per Explanation 2 to Section 139(1) of Income Tax Act, 1961, below classes of taxpayers must file their return on or before 31 October,2024:
(a) Corporate-assessee; or
(b) Non-corporate assessee whose books of account are required to be audited under Income Tax Act or any other law for the time being in force; or
(c)Partner of a firm whose accounts are required to be audited under Income Tax Act or any other law for the time being in force or the spouse of such partner if the provisions of section 5A (Apportionment of Income between spouses governed by the Portuguese Civil Code) applies to such spouse.
Form 1 of DTVSV 2024 is now available for online filing. For details please refer Notification No. 104/2024, F. No. 370142/16/2024-TPL dated 20 September 2024.
Due date of filing of audit report u/s 139(1) of Income Tax Act, 1961 has been extended from 30th September, 2024 to 07th October, 2024 in the case of assessees referred in clause (a) of Explanation 2 to sub-section (1) of section 139 of the Act, 1961. Please refer to CBDT Circular no. 10/2024 dated 29th Sept. 2024.
Notice Inviting Tender for (NIT) for Selection of Managed Service Provider (MSP) for PAN 2.0 Project of Income Tax Department.
Excel Utility of ITR-7 for AY 2024-25 is now available for filing. Click here to download.
The list of banks available for e-Pay Tax service at e-Filing portal.
For A.Y.2024-25, NEW TAX REGIME is default regime for Individual, HUF, AOP (other than co-operative society), BOI and Artificial Juridical Person.
If you want to opt for "OLD TAX REGIME " and you are:
(i) Eligible to file return of income in ITR 1 & 2 , then select relevant option directly in ITR and file return within the applicable due date.
(ii) Eligible to file return of income in ITR 3, 4 & 5 then you MUST file Form 10-IEA before the due date mentioned u/s 139(1).
Please compare the tax liability under the New Tax and Old Tax regime before filing of the return. For computing tax liability please click on the link 'Income Tax Calculator'.
For more details, please find below the links of videos related to Old Regime vs New Regime:
https://www.youtube.com/watch?v=wtxl5-Pt-Ko
Offline and Online Utility of ITR-7 for AY 2024-25 is available for filing. Click here.
OLD AND NEW TAX REGIME DETAILS IN FAQs.
Excel Utility of ITR-5 for AY 2024-25 is now available for filing. Click here to download.