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Income Tax Deadline: Last week left to file tax return for THESE taxpayers. Check the details
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Income Tax Deadline: Last week left to file tax return for THESE taxpayers. Check the details

Taxpayers who intend to audit their accounts have only one week left to file their income tax return (ITR) for AY 2024-25. The last date for filing income tax returns for these taxpayers is November 15.

The income tax department recently issued a statement saying it is the last week left CONTIBUTORS whose accounts are audited or a partner in a firm whose accounts are audited under section 44AB or companies but not those governed by section 92E of the Income-tax Act, 1961. Last date for which they can file the return of income tax is until November 15, 2024, the release also says.

It should be noted that the last date for filing Income Tax Return (ITR) for taxpayers whose accounts should be audited is October 31. Recently, this was extended by two weeks until November 15.

The last date is November 15 for the following taxpayers:

1. whose accounts are audited. This means that the turnover has been completed one crore (or 50 lakh for professionals).

2. Partner in a firm whose accounts are audited under section 44AB. Includes individuals, HUFs, companies with gross receipts exceeded 1 crore in business or 50 thousand lei in the profession.

3. Companies not covered by section 92E of the Income-tax Act, 1961. Section 92E requires entities involved in specified international and domestic transactions to obtain a report from a chartered accountant.

Salaried taxpayers, however, should file their income tax return before July 31. This time, fish 7 million tax returns were submitted by July 31, 2024.

Meanwhile, in another finished news 9.54 lakh taxpayers with income of 1 crore and above filed their Income Tax (IT) returns by October 31, data from the Income Tax portal revealed.

The latest data for the financial year 2024-25 shows that a total of 2.76 lakh people in 1 crore club filed its tax returns in October. In the previous month, i.e. September, this figure was 2,38,472.

In August and July, the corresponding dates were 2,15,586 and 2,08,284. In the first three months of this fiscal year, as many as 15,694 people filed their income tax returns.