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News INCOME TAX

  • Feb 05, 2024
  • Wait for unprocessed income tax refund to get longer; deadline extended by 3 months

    The Central Board of Direct Taxes (CBDT) has said that all income tax returns (ITR) that are validly filed electronically up to AY 2020-21 with refund claims under section 143 (1) would now be processed by April 30, 2024, unless otherwise prescribed.

    CBDT in the circular dated January 31, 2024, said, "The matter has been re-considered by the Board in view of pending taxpayer grievances related to the issue of refund. To mitigate the genuine hardship being faced by the taxpayers on this issue, Board hereby further extends the time till 30.04.2024 in respect of returns of income validly filed electronically up to AY 2020-21.