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Income Tax Return Filing Last Date: The Income Tax Department allows the submission of updated ITRs after the December 31 deadline, but additional taxes may apply for adjustments to income. ....
The Income Tax Department has notified ITR forms 1 and 4 for the assessment year 2024-25, allowing individuals and entities with an annual total income of up to ₹50 lakh to file their returns ....
The Income Tax department gives a choice of seven forms when a person is filing their tax returns at the end of a financial year. One of the simpler ones is ITR-1 (Sahaj), which is applicable for a large number of small and medium taxpayers. Sahaj is required to be filled by people who have an income up to Rs 50 lakh and who receive income from salary, one house property/other sources such as interest etc. Learn about the requirements and process of filing an ITR in this Business Today Visual Story. ....