The Central Board of Direct Taxes (CBDT) has initiated the option for taxpayers to file their Income Tax Returns (ITRs) for the Assessment Year 2024-25 (pertinent to Financial Year 2023-24) starting from April 1, 2024. The commonly used ITR forms, comprising ITR-1, ITR-2, and ITR-4, are now accessible on the e-filing portal, facilitating taxpayers to submit their returns. Additionally, companies can also employ ITR-6 to file their returns from the same date.
In preparation for this endeavour, CBDT had previously notified the ITR forms, commencing with ITRs 1 and 4 on December 22, 2023, followed by ITR-6 on January 24, 2024, and ITR-2 on January 31, 2024.
To assist e-Return Intermediaries (ERI), CBDT has furnished the JSON Schema for ITR-1, ITR-2, ITR-4, and ITR-6, alongside the Schema of Tax Audit Reports for A.Y. 2024-25. These resources can be accessed from the downloads section of the e-filing portal.
Consequently, taxpayers can now file ITR-1, ITR-2, ITR-4, and ITR-6 for A.Y. 2024-2025 on the e-filing portal from April 1, 2024. Already, approximately 23,000 ITRs for A.Y. 2024-25 have been filed to date. The provision to file ITRs 3, 5, and 7 will be made available shortly.
This marks a significant milestone as it is the first time in recent years that the Income Tax department has enabled taxpayers to file their returns on the first day of the new financial year. It represents yet another stride towards enhancing compliance ease and delivering seamless taxpayer services.
