CBDT Extends ITR Deadline for Audit Cases to Nov 15, 2024

The Income Tax Department in an announcement has extended the due date to file the income tax returns by 15 days. Now the taxpayers have much time to finish their filings, relieving those who face time limitations. The same extension has the motive to assist the taxpayers in satisfying their liability without the stress of the initial due date. To prevent last-minute rush they are asked to file it as soon as possible.

This extension is applicable on tax return filings for the Financial year 2023-24, now due by November 15.

Guide To E-filing Income Tax Returns On The Income Tax Portal

On the official Income tax e-filing website taxpayers can comply with the below-mentioned steps for filing their returns with the approach of the ITR filing due date.

Login to the e-filing Portal

• Visit the Income Tax e-filing website and select ‘Login’
• Enter your PAN in the User ID field and click ‘Continue’
• Confirm the security message by checking the appropriate tickbox
• Enter your password and select ‘Continue’ to access your account

Proceed To File Income Tax Returns

Select the ‘e-File’ tab, then click ‘Income Tax Returns’ and choose ‘File Income Tax Return’

Thereafter choose The Correct ‘Assessment Year’

For filing the FY 2023-24 return, select ‘Assessment Year’ as ‘AY 2024-25’. If filing for FY 2022-23, choose ‘AY 2023-24’. Confirm the filing mode is set to ‘Online’ and select the filing type as either an original or revised return.

Select Filing Status

• Choose the appropriate filing status: Individual, HUF, or Others
• For individual taxpayers, select ‘Individual’ and tap ‘Continue’

Select Suitable ITR Form

Next, choose the ITR form type. Deciding on the accurate ITR form before filing is crucial. There are 7 ITR forms, with ITR 1 to 4, especially for Individuals and HUFs. For example, individuals and HUFs with capital gains but no income from business or profession must choose ITR 2.

Select The Reason For ITR Filing 

Based on your circumstances select the reason for filing your IT return. Options are-

• Taxable income exceeds the basic exemption limit
• Mandatory filing due to specific criteria
• Other reasons.

Examine and Verify Pre-filled Information

• In this phase, analyze the pre-filled data that comprises PAN, Aadhaar, name, date of birth, contact details, and bank account information. Ensure to have the correct information. If the bank account information is pre-validated then you need to verify for accuracy.
• Proceed through each section, making sure that all income, exemptions, and deduction information is accurately reported. The same shall be pre-filled based on the data from your employer bank etc so verify the accuracy precisely. Lastly, verify the return summary, check the details for accuracy, and, if necessary, ensure any pending tax payments are made.

E-Verification of ITR Forms

The last step is to verify your ITR within 30 days. Unable to complete this verification will be regarded as not filing your return. You can e-verify your returns via distinct methods, comprising Aadhaar OTP, electronic verification code (EVC), net banking, or by sending a physical copy of the ITR-V to the CPC in Bengaluru.

This guide will ensure you file your ITR precisely within the said time, without forgetting the due date.