S. 87A Rebate Issues: CBDT extends FY 2023-24 Belated/Revised Income Tax Return Filing Deadline

The CBDT has extended the deadline for filing belated or revised Income Tax Returns for the Financial Year 2023-24 under Section 87A of the Income Tax Act. The extension is aimed at providing taxpayers with additional time to submit their returns without facing penalties, especially for those who missed the original deadline. The ruling reflects the government's flexibility and commitment to accommodating taxpayers, especially in cases where filing delays occurred due to unforeseen circumstances. This extension offers a relief to many taxpayers, allowing them to comply with their obligations under the Income Tax Act.