The Central Board of Direct Taxes (CBDT) announced on Thursday that taxpayers can now conveniently file their Income Tax Returns (ITRs) for the Assessment Year 2024-25, pertaining to the Financial Year 2023-24, starting from April 1st, 2024.
The commonly used ITR forms including ITR-1, ITR-2, and ITR-4 are accessible on the e-filing portal from April 1st, 2024, allowing taxpayers to complete their filings.
Moreover, companies are also able to submit their ITRs via ITR-6 starting from April 1st.
CBDT highlighted that the notification of ITR forms was initiated well in advance. ITR-1 and ITR-4 were notified on December 22nd, 2023, followed by the notification of ITR-6 on January 24th, 2024, and ITR-2 on January 31st, 2024.
In order to assist the e-Return Intermediaries (ERI), the JSON Schema for ITR-1, ITR-2, ITR-4, and ITR-6, along with the Schema of Tax Audit Reports, have been provided for A.Y. 2024-25. These resources are accessible under the downloads section of the e-filing portal, as stated by CBDT.
Currently, approximately 23,000 ITRs for A.Y. 2024-25 have been filed. The statement assured that the facility to file ITRs 3, 5, and 7 will be made available shortly.
The statement further emphasized that this marks the first instance in recent memory where the Income Tax Department has enabled taxpayers to file their returns on the very first day of the new financial year.
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