CBDT Extends Belated ITR Deadline To January 15, 2025

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Last Updated:December 31, 2024, 12:53 IST

Belated ITR Due Date Extended: This move is expected to provide taxpayers with additional time to file their returns and ensure compliance with tax obligations.

Belated ITR Filing Due Date: Individuals are urged to take advantage of this extension to submit their returns before the revised deadline to avoid any penalties or interest.

Belated ITR Due Date Extended: In a recent announcement, the Central Board of Direct Taxes (CBDT) has extended the last date for furnishing Belated/ Revised Returns of Income for the Assessment Year (AY) 2024-25 for resident individuals. The deadline has been moved from December 31, 2024, to January 15, 2025.

The decision follows a recent order from the Bombay High Court, which directed the CBDT to extend the deadline for filing belated and revised ITRs for Assessment Year (A.Y.) 2024-25.

CBDT extends the last date for furnishing Belated/ Revised return of income for AY 2024-25 in the case of Resident Individuals from 31st December, 2024 to 15th January, 2025.✅Circular no. 21/2024 dated 31/12/2024 issued-https://t.co/DedADMfnGX pic.twitter.com/sBVdGZqxRF
— Income Tax India (@IncomeTaxIndia) December 31, 2024

“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," CBDT said in a circular dated December 31, 2024.

This move is expected to provide taxpayers with additional time to file their returns and ensure compliance with tax obligations. Individuals are urged to take advantage of this extension to submit their returns before the revised deadline to avoid any penalties or interest.

Direct Tax Vivad Se Vishwas Scheme

In another development, the income tax department on Monday extended till January 31 the due date for determining the tax dues and filing declaration under the Vivad Se Vishwas scheme for waiver of interest and penalty.

As per the original rules of the Direct Tax Vivad Se Vishwas scheme, 2024, taxpayers filing declaration before December 31, 2024, had to pay 100 per cent of the disputed tax demand. Interest and penalty would be waived in such cases.

Through a circular, the CBDT extended the due date for determining the amount payable under the VsV scheme to January 31, 2025, from December 31, 2024.

As per the circular, declarations filed on or after February 1, 2025, 110 per cent of the disputed tax demand will have to be paid by the taxpayer.

The scheme can be availed by taxpayers who have disputes/appeals, including writs and special leave petitions(Appeals) whether filed by the taxpayer or the tax authorities are pending as on July 22, 2024, before the Supreme Court, High Courts, Income Tax Appellate Tribunal, Commissioner/Joint Commissioner (Appeals).