ITR Filing: Authorities Extend Last Date For Submitting Belated Tax Returns. Check The New Date Here

The authorities informed that the last date for submitting the belated or revised IT returns for individuals is now January 15, 2025. 

The deadline for salaried individuals and other taxpayers without audit obligations typically is July 31 of the relevant AY (2024-25 at present). 

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The Central Board of Direct Taxes (CBDT) extended the deadline for taxpayers to file their belated or revised income tax returns for the 2024-25 Assessment Year (AY). The authorities informed that the last date for submitting the belated or revised IT returns for individuals is now January 15, 2025. 

Earlier, the deadline for the same was December 31, 2024. Issuing a circular, the finance ministry said, “The Central Board of Direct Taxes ('the CBDT'), in exercise of its powers under section 119 of the Income-tax Act,1961 ('the Act'), extends the last date for furnishing belated return of income under sub-section (4) of section 139 of the Act or for furnishing revised return of income under sub-section (5) of section 139 of the Act for the Assessment Year 2024-25 in the case of resident individuals from 31 st December, 2024 to 15th January, 2025.”

The CBDT also asked the taxpayers to make sure they utilise the extended time to submit accurate and complete filing of their returns. However, individuals will be required to submit a penalty of up to Rs 5,000. At the same time, for taxpayers with an overall income of less than Rs 5 lakh, the amount remains limited to Rs 1,000.

The deadline for salaried individuals and other taxpayers without audit obligations typically is July 31 of the relevant AY (2024-25 at present). 

Further, if you find out an error in your filing after you have submitted your return, you can submit a revised return in the prescribed timeline. The current deadline has been extended from December 31, 2024 to January 15, 2025.

A belated return allows an individual to submit their ITR if they miss the July 31 deadline. This can be filed up to three months prior to the end of the relevant assessment year. So if you missed submitting the ITR for the 2023-24 fiscal year (FY24) by July 31, 2024, you can share a belated return until December 31, 2024. Now the same deadline applies to January 15, 2025.