Deadline for submitting up to date ITR prolonged, taxpayers get reduction until this date – India TV Hindi

There’s reduction information for taxpayers. The federal government has now prolonged the date for submitting up to date ITR to March 31, 2024. The Earnings Tax Division on Monday stated that taxpayers whose instances have been marked beneath the e-verification scheme can file up to date earnings tax returns for evaluation yr 2021-22 by March 31. In accordance with language information, the Central Board of Direct Taxes (CBDT) says that there’s a distinction between the data on monetary transactions recorded in some ITRs filed for the evaluation yr 2021-22 (FY 2020-21) and the data obtainable with the division. .

Data is being despatched to taxpayers relating to mismatched data

In accordance with the information, in instances the place returns haven’t been filed for evaluation yr 2021-22, however the division has details about excessive worth monetary transactions, they need to even be investigated. In such a scenario, beneath the E-Verification Scheme-2021, the division is sending data to the taxpayers relating to the mismatched data. The Earnings Tax Division has requested such taxpayers to file up to date ITR. Taxpayers are being knowledgeable by means of their e-mail IDs registered with the Earnings Tax Division.

By way of the communication, the division is urging taxpayers to view their AIS by means of the e-filing portal and file up to date ITR (ITR-U) wherever the taxpayer finds vital. Eligible non-filers also can submit up to date return (ITR-U) beneath part 139(8A) of the Earnings Tax Act, 1961.

This restrict was fastened lately

A number of days in the past, the Earnings Tax Division had fastened a restrict of Rs 1 lakh per taxpayer for withdrawal of small tax calls for. This was introduced by Finance Minister Nirmala Sitharaman within the finances. Finance Minister Nirmala Sitharaman in her interim finances speech for 2024-25 had introduced withdrawal of excellent direct tax calls for as much as Rs 25,000 as much as evaluation yr 2010-11 and Rs 10,000 from evaluation yr 2011-12 to 2015-16.

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