Will deadline for income tax filing change in the new income tax bill?
new income tax bill has been tabled in Parliament. In addition to simplifying the language of direct tax laws, many taxpayers anticipate the latest income tax bill will provide ease of compliance. Has the new income tax bill changed the income tax return filing deadline to provide more time for taxpayers to file ITR?
ITR filing deadlines proposed in the new tax bill
According to sources, the new income tax bill has not changed the income tax return filing deadlines. The new income tax bill is likely to continue with the same income tax return filing deadlines.
Current income tax rules on ITR filing
There are different income tax return filing deadlines for various categories of taxpayers. Individuals and other taxpayers whose accounts are not required to be audited must file the original ITR by July 31 of the assessment year.
Taxpayers whose accounts are required to be audited must first submit the audit report by September 30 of the assessment year. Once the audit report is submitted, taxpayers must file ITR by October 31 of the assessment year.
Artificial Intelligence(AI)
Java Programming with ChatGPT: Learn using Generative AI
By — Metla Sudha Sekhar, IT Specialist and Developer
Artificial Intelligence(AI)
Basics of Generative AI: Unveiling Tomorrows Innovations
By — Metla Sudha Sekhar, IT Specialist and Developer
Artificial Intelligence(AI)
Generative AI for Dynamic Java Web Applications with ChatGPT
By — Metla Sudha Sekhar, IT Specialist and Developer
Artificial Intelligence(AI)
Mastering C++ Fundamentals with
