The proposed income tax bill will be tabled in the Parliament today. At present, there are various deadlines for submitting ITR depending on the category of income taxpayers. Numerous taxpayers are seeking a permanent extension of the ITR filing deadline to have additional time for filing their ITR.
#Breaking | New Income Tax bill to be tabled today
– Finance Minister Sitharaman will introduce a bill to the parliament.
– Sources: No new taxes or tax rates.@pragyakaushika & @prathibhatweets with more details. pic.twitter.com/T4RhMPle8B
— TIMES NOW (@TimesNow) February 13, 2025
As per an Economic Times report, citing sources, the new income tax bill has not made any changes to the ITR filing deadlines and is likely to continue with the same deadline matrix as before. As per the existing income tax regime, there are different ITR filing deadlines for different categories of taxpayers.
Individuals and other taxpayers whose accounts do not need to be audited must submit the original ITR by July 31 of the assessment year. On the contrary, those taxpayers whose accounts need to be audited are supposed to turn in their audit report by September 30 of the assessment year. Post successful submission of the audit report, taxpayers have to file the ITR by October 31 of the assessment year.
Taxpayers who are involved in international transactions are required to submit the audit report by October 31 of the assessment year. After the audit report is submitted, taxpayers are required to file the ITR by November 30 of the assessment year.
