Friday, February 2, 2024

Income Tax Refund Processing Deadlines extended further by CBDT till 30th April

The Central Board of Direct Taxes (CBDT) has announced an extension in the deadline for processing income tax returns with refund claims for Assessment Years (AYs) up to 2020-21. The new deadline is now 30th April 2024. This extension is specifically for returns filed electronically that have not yet been processed due to various reasons.

Key Points:

  • Affected Assessment Years: The extension applies to electronically filed returns for AYs 2018-19, 2019-20, and 2020-21.
  • Reason for Extension: Aimed at addressing pending grievances and ensuring accurate processing of refunds.
  • Action for Taxpayers: Individuals awaiting refunds for these AYs should adjust their financial planning accordingly and stay informed through official CBDT channels.

This move is intended to mitigate hardships faced by taxpayers and ensure the thorough processing of refunds.