Good news for taxpayers: Extension of the tax payment deadline

Good news for taxpayers: Extension of the tax payment deadline

Today was the final date for tax payment, but due to various reasons, the Income Tax Department has provided significant relief to taxpayers who have not made their payments.

In an important development, the Central Board of Direct Taxes (CBDT) has extended the deadline for tax payment to January 31, 2025.

Yes, while today was the last date for tax payment, the CBDT has granted significant relief to those taxpayers who have not made their payments. As a result, the deadline for tax payment has been extended to January 31, 2025.

According to Section 90 of the Direct Tax Vivad Se Vishwas Scheme, 2024, the date for determining the amount to be paid has been extended from December 31, 2024, to January 31, 2025, as per the table in Column (3), the CBDT has informed.

CBDT extends due date for determining amount payable as per column (3) of Table specified in section 90 of Direct Tax Vivad Se Vishwas Scheme, 2024 from 31st December, 2024 to 31st January, 2025.

Circular No. 20/2024 dated 30.12.2024 issuedhttps://t.co/uYGf1Oh3g2 pic.twitter.com/agjuRsMHqg

— Income Tax India (@IncomeTaxIndia) December 30, 2024

The CBDT further mentioned that under the Direct Tax Vivad Se Vishwas Scheme, 2024, regardless of any rules or guidelines, in cases where the declaration is filed on or before January 3, 2025, the amount payable will be determined as per Column (3) of the ID tab, and in cases where the declaration is filed on or after February 1, 2025, the amount payable will be determined according to Column (4).

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