The last month of the financial year 2024-25 has started. This month, people have to file income tax returns. The Income Tax Department has appealed to the citizens to settle all dues on the due dates so that there is no problem in filing income tax returns by March 31.
If you do not file ITR by March 31 or any payment is pending, then you may have to pay a penalty. People can file updated returns for financial years 2021-22 and 2022-23 by March 31. People who have to file returns for the current financial year can also file it.
The provision for filing updated returns was made in the Finance Act 2022. Finance Minister Nirmala Sitharaman introduced the amended act, which has a provision that taxpayers can file updated returns to correct errors. When this new provision was introduced in the year 2022, the maximum time limit for filing updated returns was 2 years, but in Budget 2025 this time limit was increased to 48 months. So now people can file updated returns of 2021, 2022, 2023.
March 2
– Date for furnishing details of challans relating to tax deducted under section 194-IA January 2025
– Date for furnishing details of challans relating to tax deducted under section 194-IB January 2025 – Date
for furnishing details of challans relating to tax deducted under section 194-S in
January 2025 – Date for furnishing details of challans relating to tax deducted under section 194-M in January 2025
March 7
– Date for depositing withheld taxes for the month of February 2025.
March 15
-Last date for payment of fourth installment of advance tax for assessment year 2024-25
-Last date for payment of full amount of advance tax for assessment year 2024-25 under the anticipated scheme of section 44AD/44ADA of Income Tax -Last date for
submission of Form 24G through the government office where TDS/TCS has been paid without submitting challan for the month of February 2025.
March 16
– Date of issue of TDS certificate for tax deducted under section 194-IA in January 2024
– Date of issue of TDS certificate for tax deducted under section 194-IB
in January 2024 – Date of issue of TDS certificate for tax deducted under section 194-M in January
2024. – Date of issue of TDS certificate for tax deducted under section 194-S in January 2024.
March 17
– Date of issue of TDS certificate for tax deducted under section 194-IA in January 2025.
– Date of issue of TDS certificate for tax deducted under section 194-IB in January 2025
– Date of issue of TDS certificate for tax deducted under section 194-S in the month of January 2025.
March 30
– Date for furnishing details of challans relating to tax deducted under section 194-IA in February 2025
– Date for furnishing details of challans relating to tax deducted under section 194-IB in February 2025
– Date for furnishing details of challans relating to tax deducted under section 194-M
in February 2025 – Date for furnishing details of challans relating to tax deducted under section 194-S in the month of February 2025
March 31
–Date for filing Form No. 3CEAD for the year 2022-23
–Date for uploading details of foreign income proposed to be taxed in the year 2022-23 and tax deducted or paid on this income in Form 67 to claim foreign tax credit.
–If you have not filed an updated income tax return for the assessment year 2021-22, fill it by March 31.
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