Taxpayers rejoice as the Central Board of Direct Taxes (CBDT) announces the commencement of Income Tax Return (ITR) filing for the Assessment Year 2024-25, starting from April 1, 2024. The eagerly awaited ITR-1, ITR-2, and ITR-4 forms, widely used by taxpayers, are now accessible on the e-filing portal, facilitating hassle-free filing. Additionally, companies can also initiate the filing process for their ITRs through ITR-6 effective from the same date.
With the doors opened for tax compliance, a remarkable 23,000 ITRs for the Assessment Year 2024-25 have already found their way to the taxman’s desk. CBDT assures that the functionality to file ITRs 3, 5, and 7 will be made available shortly, catering to a broader spectrum of taxpayers.
The Income Tax Department ensures convenience by releasing e-filing versions of the ITR-1, ITR-2, and ITR-4 forms for the financial year 2023-24 (assessment year 2024-25). For those preferring offline modes, downloadable utilities in Excel and JSON formats for ITR-1, ITR-2, ITR-4, and ITR-6 are also on offer.
Taxpayers are reminded that the deadline for filing income tax returns (ITRs) for FY 2023-24 (AY 2024-25) stands at July 31, 2024.
CBDT’s proactive approach is evident in the early notification of ITR forms, commencing with ITRs 1 and 4 on December 22, 2023, followed by ITR-6 on January 24, 2024, and ITR-2 on January 31, 2024. To aid e-Return Intermediaries (ERI), CBDT has made available the JSON Schema for ITR-1, ITR-2, ITR-4, and ITR-6, along with the Schema of Tax Audit Reports for AY 2024-25. These resources can be conveniently accessed from the downloads section of the e-filing portal.
In a statement released on Thursday, CBDT emphasises the readiness of taxpayers to file ITR-1, ITR-2, ITR-4, and ITR-6 for AY 2024-2025 on the e-filing portal starting April 1, 2024, with the assurance of imminent availability for filing ITRs 3, 5, and 7.
