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News INCOME TAX

  • Feb 03, 2024
  • Rich taxpayers will now need to give more details, ITR-2, ITR-3 for FY 2023-24 notified by CBDT

    Taxpayers who earn more than Rs 50 lakh or have more than one house need to share extra information when they file their income tax return (ITR).

    The Central Board of Direct Taxes (CBDT) has notified the income tax return (ITR) forms, ITR-2 and ITR-3. Many entities, including individuals, whose income iexceeds Rs 50 lakh are required to file their ITR using these forms for FY 2023-24 (AY 2024-25). The last date to file ITR-2 and ITR-3 is July 31, 2024. Whereas taxpayers who are required to conduct income tax audit and have business income must file ITR-3 by October 31, 2024