As per the usual schedule, employers issue Form 16 around mid-June, i.e before June 15. For FY 2023-24 (assessment year 2024-25), Form 16 should be issued by June 15, 2024.
Income taxpayers are advised to plan their activities accordingly as services on the e-filing portal will be restricted till early February 5 for scheduled maintenance
The Central Board of Direct Taxes (CBDT) has updated the income tax return (ITR) forms for FY 2023-24 (AY 2024-25), specifically ITR-2 and ITR-3. These forms are essential for many taxpayers, especially for those whose financial situations are more complex., Income Tax News, Times Now
The Income Tax department has notified that taxpayers with earnings more than Rs 50 lakh or have more than one house need to share extra information when they file their tax returns for this fiscal.
The Income Tax department has notified the Income-tax Return Forms (ITR Forms) 2, 3, and 5 for the Assessment Year (AY) 2024-25, effective from April 1, 2024. These forms are applicable for individuals and Hindu Undivided Families (HUFs) without income from business or profession, individuals and HUFs with income from business or profession, and partnership firms, respectively. The Central Board of Direct Taxes (CBDT) highlighted that changes have been incorporated to facilitate taxpayers and improve ease of filing.