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Below The Comment on CBDT extending the due date of filing of ITRs to Sep 15 from Jul 31 by SK Patodia & Associates LLP

This extension will provide more time due to significant revisions in ITR forms, system development needs, and TDS credit reflections. This ensures a smoother and more accurate filing experience for everyone.

In the past also ITR due date was extended. However, extension was only given for filing ITR and not for tax payment. Accordingly, taxpayers were expected to pay additional interest (as applicable) despite filing the return in the extended period (in case the balance tax is not paid within the original due date 31st July. For FY 2024-25). Detailed notification will be issued and it is expected that taxpayers will be required to make tax payment by 31st July 2025 to avoid any interest.

Similarly, eligible taxpayers are entitled to get a refund with interest u/s 244A from the end of the financial year to date of granting refund. Accordingly, with extension of the due date for FY 2024-25, it is expected that eligible taxpayers are expected to get additional interest as delay in filing ITR is likely to result in delay in getting refunds. However, in the past it was experienced that taxpayers did not receive interest for an additional period of extension and rectification application was required to be filed for the same. One of the reasons for the extension is to develop a system for return filing. Thus, it is expected that for FY 2024-25 will not face such an issue again.

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