CBDT has vide circular no. 20/2024 Dt. 30.12.2024 extended the due date for determining amount payable as per column (3) of the Table specified in section 90 of the Scheme from 31st December, 2024 to 31st January, 2025 i.e. due date for filing declaration in Form 1 and order in Form 2 has been extended to 31.01.2025.
CBDT has vide circular no. 21/2024 Dt. 31.12.2024 extended the due date for filing of belated and revised Income tax return for resident individual from 31.12.2024 to 15.01.2025.
Below are the extracts of both circular:
Circular 20/2024:
(1) The Central Board of Direct Taxes (CBDT), in exercise of its powers under sub-section (2) of section 97 of the Direct Tax Vivad Se Vishwas Scheme, 2024 (‘the Scheme’) extends the due date for determining amount payable as per column (3) of the Table specified in section 90 of the Scheme from 31st December, 2024 to 31st January, 2025.
(2) Accordingly, notwithstanding anything contained in the Direct Tax Vivad Se Vishwas Scheme, Rules or Guidance Note of 2024, in such cases where declaration is filed on or before 31st January, 2025, amount payable shall be determined as per column (3) of the Table specified in section 90 of the Scheme, and where declaration is filed on or after 01st February, 2025, amount payable shall be determined as per column (4) of the said Table.
Circular 21/2024:
The Central Board of Direct Taxes (‘the CBDT’), in exercise of its powers under section 119 of the Income-tax Act,1961 (‘the Act’), extends the last date for furnishing belated return of income under sub-section (4) of section 139 of the Act or for furnishing revised return of income under sub-section (5) of section 139 of the Act for the
Assessment Year 2024-25 in the case of resident individuals from 31st December, 2024 to 15th January, 2025.
This circular could be issued after the recent interim judgement of Hon’ble Bombay High Court.
To read the circular 20/2024 CLICK ME.
To read the circular 21/2024 CLICK ME.