Taxpayer is entitled to claim benefit of exempted income in revised ITR if it is filed within the deadline indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
Income tax outstanding demand: The Central Board of Direct Taxes (CBDT) has stated via a order that the income tax department has started waiving eligible old tax demand. However a maximum ceiling limit per taxpayer/assessee has been set and no outstanding tax demand entries above this ceiling limit would be extinguished.
Income tax department has launched a facility called Demand Facilitation Centre (DFC) for helping people solve their pending tax outstanding demand issues faster. The DFC agents would help the individuals understand the reason behind the tax notice and suggest ways to solve it. Further DFC agents may connect you with the assessing officer (AO) directly too in some cases.
The Central Board of Direct Taxes (CBDT) has extended the deadline for income tax audit report submission by a fund, educational institution, hospitals and others to October 31, 2023 from September 30, 2023. However for those individuals with business or professional income above the specific limits, the deadline remains the same i.e. September 30, 2023.