CBDT Enables Filing of Commonly Used ITRs from April 01, 2024

The Central Board of Direct Taxes (CBDT) has introduced the option for taxpayers to submit their Income Tax Returns (ITRs) for the Assessment Year 2024-25 (pertaining to the Financial Year 2023-24) starting from April 01, 2024. Essential ITR forms such as ITR-1, ITR-2, and ITR-4, commonly used by taxpayers, are now accessible on the e-filing portal for filing returns. Additionally, companies can utilize ITR-6 to file their returns starting April 1.

In preparation for this, CBDT had released notifications for various ITR forms in advance. ITR-1 and ITR-4 were notified on December 22, 2023, followed by ITR-6 on January 24, 2024, and ITR-2 on January 31, 2024.

To support e-Return Intermediaries (ERI), CBDT has provided the JSON Schema for ITR-1, ITR-2, ITR-4, and ITR-6, along with the Schema of Tax Audit Reports for A.Y. 2024-25, which are accessible in the downloads section of the e-filing portal.

Thus, taxpayers are now able to file ITR-1, ITR-2, ITR-4, and ITR-6 for A.Y. 2024-2025 on the e-filing portal from April 01, 2024. As of now, approximately 23,000 ITRs for A.Y. 2024-25 have already been submitted. The option to file ITRs 3, 5, and 7 will be provided soon.

This marks a significant milestone as taxpayers can now file their returns on the very first day of the new financial year, demonstrating the Income Tax department’s commitment to enhancing compliance and providing efficient taxpayer services.