CBDT extends ITR filing deadline to September 16
The Central Board of Direct Taxes (CBDT) has announced a further extension of the deadline for filing Income Tax Returns (ITRs) for the Assessment Year (AY) 2025-26 by one day.
The Central Board of Direct Taxes (CBDT) has announced a further extension of the deadline for filing Income Tax Returns (ITRs) for the Assessment Year (AY) 2025-26 by one day.
Deloitte has released a survey on Wednesday saying a vast majority of income tax filers want simplified ITRs for individuals, easier way for computing incentives and deductions, and simplification of TDS framework for 'one rate one section'.
An analysis of the data showed that individuals filing tax return for fiscal 2019-20 have slowed so far in the current year, while filings by businesses and trusts have increased.
"This reduction would release nearly Rs 50,000 crore in the hands of the people who would have otherwise paid it as TDS," Sitharaman said.
