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The income tax (I-T) department has released the excel utility of ITR-6 for AY 2024-25. Prior to this, the department enabled the excel utility of ITR-1, ITR-2 and ITR-4 for AY 2024-25.
As per the usual schedule, employers issue Form 16 around mid-June, i.e before June 15. For FY 2023-24 (assessment year 2024-25), Form 16 should be issued by June 15, 2024.
This has come after the Income Tax Department for the first time launched the return filing utilities on its portal from the first day of the assessment year, that is, April 1, 2024.
For the first time in many years, the IT Department has opened return filing utilities on the first day of the new financial year. Some 23,000 taxpayers filed their ITRs between April1 and April 3. But tax experts suggest waiting until updated AIS and Form 26AS are available.
ITR Form 1 (Sahaj) and ITR Form 4 (Sugam) are simpler forms that cater to a large number of small and medium taxpayers. ITR-2 is filed by people having income from residential property).