<p>New Delhi: The Central Board of Direct Taxes (CBDT) on Tuesday announced that the deadline for filing Income Tax Returns (ITRs) for the assessment year 2025–26 will be extended to September 15 from July 31 due to significant changes in ITR forms and delays in TDS credit.</p><p>The notified ITRs for AY 2025-26 have undergone structural and content revisions aimed at simplifying compliance, enhancing transparency, and enabling accurate reporting. These changes have necessitated additional time for system development, integration, and testing of the corresponding utilities, the CBDT said in a statement.</p><p>“Furthermore, credits arising from TDS statements, due for filing by 31st May, 2025, are expected to begin reflecting </p><p>in early June, limiting the effective window for return filing in the absence of such extension,” it added.</p><p>A formal notification to this effect will be issued separately, the CBDT said.</p>.A primer on changes to filing income tax returns.<p>As per a statement released by the Union Finance Ministry, the extension in due date is expected to mitigate the concerns raised by stakeholders and provide adequate time for compliance, thereby ensuring the integrity and accuracy of the return filing process.</p><p>The ITR forms notified for the FY 2024-25 (AY 2025-26) incorporate the amendments introduced by the Finance Act 2024 and have enhanced reporting requirements relating to deductions being claimed, requirement to report TDS section codes, provide the bifurcation of capital gains for pre and post 23 July 2024, said Sonu Iyer, Partner and National Leader, People Advisory Services-Tax, EY India.</p><p>The Finance Act 2024 has rationalised capital gains taxation on specific transactions on or after 23 July 2024. Given the requirements of these new ITR forms, the e-filing utility (both online and offline) needs to be updated by the Government.</p><p>“It is a very welcome move from the government to extend the ITR filing deadline from 31 July 2025 to 15 Sep 2025, allowing taxpayers the time required to comply with these enhanced reporting requirements and legislative changes,” Iyer said.</p>
<p>New Delhi: The Central Board of Direct Taxes (CBDT) on Tuesday announced that the deadline for filing Income Tax Returns (ITRs) for the assessment year 2025–26 will be extended to September 15 from July 31 due to significant changes in ITR forms and delays in TDS credit.</p><p>The notified ITRs for AY 2025-26 have undergone structural and content revisions aimed at simplifying compliance, enhancing transparency, and enabling accurate reporting. These changes have necessitated additional time for system development, integration, and testing of the corresponding utilities, the CBDT said in a statement.</p><p>“Furthermore, credits arising from TDS statements, due for filing by 31st May, 2025, are expected to begin reflecting </p><p>in early June, limiting the effective window for return filing in the absence of such extension,” it added.</p><p>A formal notification to this effect will be issued separately, the CBDT said.</p>.A primer on changes to filing income tax returns.<p>As per a statement released by the Union Finance Ministry, the extension in due date is expected to mitigate the concerns raised by stakeholders and provide adequate time for compliance, thereby ensuring the integrity and accuracy of the return filing process.</p><p>The ITR forms notified for the FY 2024-25 (AY 2025-26) incorporate the amendments introduced by the Finance Act 2024 and have enhanced reporting requirements relating to deductions being claimed, requirement to report TDS section codes, provide the bifurcation of capital gains for pre and post 23 July 2024, said Sonu Iyer, Partner and National Leader, People Advisory Services-Tax, EY India.</p><p>The Finance Act 2024 has rationalised capital gains taxation on specific transactions on or after 23 July 2024. Given the requirements of these new ITR forms, the e-filing utility (both online and offline) needs to be updated by the Government.</p><p>“It is a very welcome move from the government to extend the ITR filing deadline from 31 July 2025 to 15 Sep 2025, allowing taxpayers the time required to comply with these enhanced reporting requirements and legislative changes,” Iyer said.</p>