• ITR Filing Deadline Extended to 48 Months with Increased Penalties for Late Filers

  • Feb 14 2025
  • Length: 3 mins
  • Podcast

ITR Filing Deadline Extended to 48 Months with Increased Penalties for Late Filers

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  • Summary

  • New guidelines for anyone wishing to file updated income tax returns are introduced in the 2025 budget. If you missed the initial deadline, you now have up to 48 months to make these modifications. However, you might have to pay more in taxes if you file after the deadline. For example, you will pay 25% if you file an amended return within the first 12 months, 50% if you file it after 12 and 24 months, 60% if you file it after 24 and 36 months, and 70% more if you file it after 36 and 48 months. https://saginfotech.bravesites.com/entries/i/budget-2025-extends-updated-itr-deadline-48-months-late-filers-pay-70-percent

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