MARCH might have already come and gone, there are a few hold-outs who have yet to submit their tax returns for the the financial year of 2023. There are many reasons for someone to submit their returns late and those that do are usually hit with a stiff penalty.
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.
The four Bar associations that are active at the Madras High Court’s principal bench in Chennai made a joint representation before Chief Justice SV Gangapurwala
The online ITR forms were made available from April 1, 2024. Taxpayers eligible to file their tax returns can now login and fill their ITRs for FY 2023-24 using these ITR forms. The last date to file income tax returns for FY 2023-24 (AY 2024-25) is July 31, 2024.
PUTRAJAYA: Individual and non-individual taxpayers can submit their Tax Return Form for the Year of Assessment 2023 through e-Filing starting today, says the Inland Revenue Board (LHDN).