Updated ITR deadline approaching: Avoid 50% additional tax by filing before March 31, 2025

Taxpayers are advised to file updated Income Tax Returns (ITR-U) promptly to avoid higher penalties. Filing by March 31, 2025, incurs a 25% additional tax plus interest, while filing later attracts a 50% additional tax.

from Tax-Wealth-Economic Times https://ift.tt/plSJmsx