The Income Tax Department is releasing some significant news. The government has now extended the deadline for many people to submit their ITR. The deadline for filing income tax returns for charity trusts, institutes of higher learning, and professional organizations has been extended by the Income Tax Department by one month, until November 30. Additionally, the deadline for businesses to file their income tax returns has been extended.
The date was pushed back by a month
The deadline for any fund, trust, institution, university, or educational or medical institution to submit an audit report for the fiscal years 2022–2023 in Form 10B/10BB has also been extended by one month, to October 31, 2023, according to a statement released by the department. been completed.
The previous date was October 31.
According to the department, the deadline for submitting a return of income in Form ITR-7 for the assessment year 2023–24, which was previously set for October 31, 2023, has been moved to November 30, 2023. Political parties, electoral trusts, as well as organizations and authorities engaged in philanthropic and religious endeavors, submit ITR-7 forms.
The Finance Ministry provided details.
In addition, the Finance Ministry reported that the ITR deadline for businesses has also been extended. According to a statement, the due date for submitting Form ITR-7 income tax returns for the assessment year 2023–24 has been moved up from October 31 to November 30.
The E-filing desk was established for ITR as well
Let us inform you that the Income Tax Department has also established an e-filing desk to address the issues that taxpayers have when submitting returns and to offer other support. According to the government, total direct tax revenue for the fiscal year 2023–24 climbed by 18.29% to Rs 9.87 lakh crore from Rs 8.34 lakh crore during the same period the prior fiscal year.
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