Income Tax Return Deadline Extended to Nov 21 – 5 Key Points

The Central Board of Direct Taxes (CBDT) has moved the filing deadline for the current assessment year to November 21, 2024 for returns likely to face audit. This gives taxpayers under the audit threshold extra time to submit accurate returns and settle any tax due.

Five critical steps taxpayers should take:
- Confirm if your total income or turnover exceeds the ₹10 crore audit limit.
- Review and organize all financial records, invoices, and supporting documents.
- Ensure any tax liabilities are paid before the new deadline to avoid interest.
- Prepare for possible audit queries by maintaining clear audit trails.
- File the return online and retain the acknowledgment for future reference.

For the full details, read the original article here.