PROSPERR.IO

As the tax season approaches, taxpayers across India are gearing up to file their Income Tax Returns (ITR) before the deadline. Understanding the ITR filing deadline and related procedures is crucial to avoiding interest, penalties and fees.

In this comprehensive guide, we'll delve into everything you need to know about the ITR filing due dates for Assessment Year 2024-25 , including key deadlines, filing procedures, and taxpayer obligations.

Key Deadlines for ITR Filing in 2024:

The ITR filing due date varies depending on the type of taxpayer and their income sources. Here are the key deadlines to keep in mind:

It's essential to mark these dates on your calendar and ensure timely compliance to avoid late filing penalties.

Understanding Filing Procedures:

Filing your Income Tax Return involves several steps, including:

• Gathering Required Documents: Collect all necessary documents, including Form 16, bank statements, investment proofs, and other relevant financial records.
• Choosing the Right ITR Form: Select the appropriate ITR form based on your income sources, residential status and financial situation.
• Online Filing: Taxpayers can file their returns online through the Income Tax Department's e-filing portal
• Belated Filing: Belated return can be filed on or before December 31, 2024, by paying a late filing fee; however, certain benefits and deductions may not be available.

Conclusion

Every taxpayer should be aware of the deadline for filing their ITR. to avoid penalties, interest and fees by staying informed about key deadlines, filing procedures, and compliance requirements.

[Disclaimer- The article is only for educational purposes and is not to be construed as tax advice. The relevant provisions of the Income-tax Act may be referred to, for complete understanding.]