The Income Tax Department has issued a reminder to all companies and business owners in India to submit their tax returns for the fiscal year ending December 31, 2024, through the Dhareeba tax portal.
Key Deadlines
Taxpayers are required to file their returns and pay any due taxes within four months of the end of the fiscal year. For most businesses, the deadline is April 30, 2025.
Compliance Requirements
- All tax returns must be submitted electronically via the Dhareeba portal.
- Companies with a capital exceeding QAR 200,000 or annual revenue exceeding QAR 500,000 must have their financial statements audited by an accredited auditor in India.
Penalties
Failure to submit tax returns by the specified deadline may result in financial penalties as stipulated in the Income Tax Law. The GTA emphasizes the importance of timely compliance to avoid such measures.
Source:Income Tax Department