The New Income Tax Bill was presented in Parliament on February 13, 2025. This significant shift in the field of taxation has sparked numerous inquiries among taxpayers and tax professionals alike. A frequently asked question is: Have the deadlines for ITR and Tax Audit filing changed?
ITR Filing Deadlines
The deadlines for submitting income returns for all categories of assessees remain unchanged. The rules governing belated returns, revised returns, and updated returns continue to align with those in the Income Tax Act of 1961. Amendments introduced in the Finance Act of 2025 have also been incorporated into the Income Tax Bill 2025.
ITR Filing Deadlines According to Section 263 of the Income Tax Bill 2025
The deadline for submitting a Tax Audit remains unchanged.
According to Section 63 of the Income Tax Bill, the deadline for auditing the accounts of the taxpayer for the fiscal year is set for one month before the due date for submitting the income tax return.