Breaking News: CBDT Generously Extends ITR Deadline to December 15 for Global Taxpayers – A Relieving Update!

The Central Board of Direct Taxes (CBDT) has extended the deadline for filing income tax returns for taxpayers with international transactions who must report under section 92E of the Income-tax Act. The new deadline for the Assessment Year 2024-25 is now December 15, 2024, moved from the previous deadline of November 30. This 15-day extension was announced in an official statement released by the CBDT on Saturday.

Additionally, the CBDT emphasized the importance of accurate reporting of foreign income and assets in Income Tax Returns (ITRs). On November 24, it advised taxpayers to meticulously review and disclose their foreign income and assets. This guidance was highlighted in a special edition of the Income Tax department’s informational series, ‘Samvad,’ aiming to raise awareness about proper disclosure practices under section 92E.

Taxpayers are urged to ensure compliance with these requirements to avoid potential penalties and maintain transparency in their financial reporting.

Original Story https://www.sentinelassam.com/more-news/national-news/cbdt-extends-itr-deadline-to-december-15-for-taxpayers-with-international-transactions
Category : National News
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Publish Date: 2024-12-01 07:44:00