Setback For Taxpayers: You Can't Claim Tax Refund For These Periods As New Rule Kicks In
The Central Board of Direct Taxes (CBDT) has recently released a circular addressing the process for submitting condonation of delay applications related to filing Income Tax Returns (ITR). This request enables taxpayers to file their ITRs even after the official deadline for submission or revision has passed.
Setback For Taxpayers: The Central Board of Direct Taxes (CBDT) has recently released a circular addressing the process for submitting condonation of delay applications related to filing Income Tax Returns (ITR). This request enables taxpayers to file their ITRs even after the official deadline for submission or revision has passed.
By doing so, individuals can claim refunds for past income tax payments or carry forward and offset losses from previous financial years, ensuring compliance and financial recovery despite the delay. Notably, the Income Tax Department is governed by the Central Board for Direct Taxes (CBDT) and is part of the Department of Revenue under the Ministry of Finance.
CBDT's New Circular
Delay Condonation Of Dealy Requests
Filing Past Returns
Reduced Time Limit
Previous Income Tax Department's Rule
Time Limit To Accept Or Reject Condonation Delay Request
