New Delhi, Apr 5 (KNN) In a move aimed at providing ease of compliance and seamless taxpayer services, the Central Board of Direct Taxes (CBDT) has opened the doors for early filing of Income Tax Returns (ITRs) for the Assessment Year 2024-25, corresponding to the Financial Year 2023-24.

From the very first day of the new financial year, April 1st, 2024, taxpayers can log onto the e-filing portal and submit their ITRs.

The CBDT has facilitated the early filing process by making available the commonly used ITR forms – ITR-1, ITR-2, ITR-4, and ITR-6 (for companies) on the e-filing portal from April 1st onwards.

This proactive step by the Income Tax department marks a significant departure from the usual practice, allowing taxpayers to get a head start on their tax filing obligations.

As a precursor to this early filing initiative, the CBDT had notified the ITR forms well in advance. ITRs 1 and 4 were notified on December 22nd, 2023, followed by ITR-6 on January 24th, 2024, and ITR-2 on January 31st, 2024.

To further facilitate e-Return Intermediaries (ERIs), the CBDT has also made available the JSON Schema for ITR-1, ITR-2, ITR-4, and ITR-6, along with the Schema of Tax Audit Reports for the Assessment Year 2024-25. These resources can be accessed under the downloads section of the e-filing portal.

The early bird advantage has already been seized by thousands of taxpayers, with approximately 23,000 ITRs for the Assessment Year 2024-25 having been filed till date.

While the facility to file ITRs 3, 5, and 7 will be made available shortly, the CBDT's proactive approach has set the stage for a hassle-free and efficient tax filing season.

(KNN Bureau)