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News India Live, Digital Desk: Income Tax Return: A big relief news has come out for taxpayers! Often, when the time limit of filing tax, everyone starts fixing their accounts in a hurry. Sometimes technical problems, sometimes the delay of documents, and sometimes due to work pressure, the fear of missing the last date keeps harassing. But, now you have got time to breathe a little more. Income Tax Department (I.nome tax department) Has increased the deadline of tax filing, which will benefit millions of taxpayers of the country!
For whom extended deadline and why?
This expansion is especially for taxpayers who Assessment is filing its income tax return (ITR) for the year 2023-24 and this is a major change for them.
Earlier its last date was December 31, 2023, but now it extended it 31 January, 2024 Has been done!
Why was this relief given?
This decision is usually taken for reasons such as technical disturbances on taxportal, hindrance in functioning during the festival season, or heavy pressure of filing at the last minute. The government wants to give adequate time to the taxpayers so that they can record all their information correctly without any hurry. This is particularly beneficial for those who are high and who takes more time to give details of all their financial transactions.
Who will have an impact on it?
This time limit is mainly applied to those individual taxpayers, HUFs and other unrelated bodies, whose annual income is more than the normal salaried limit, and which requires filling a detailed ITR. It will also be helpful for those who have to seek the help of a specialist (such as a chartered accountant) in their tax cases.
So what to do now?
Even if you have got extra time, do not wait for the last moment. As soon as possible, all your necessary documents like bank statement, salary slip, investment proofs and tax-sewing proofs should be collected and file your ITR. Timely filing not only protects you from penalty, but also gives you peace of mind! Take advantage of this increased deadline and complete your tax filing without any pressure.
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