Big relief to taxpayers: Income Tax Department launches TAXASSIST, return filing deadline extended
TAXASSIST is to make tax related processes transparent and simple
TAXASSIST – The Income Tax Department has launched a new facility called TAXASSIST, giving great relief to crores of taxpayers across the country. With the help of this digital tool, taxpayers will be able to find solutions to their complex tax related problems and will be able to file income tax returns easily.
TAXASSIST
The department said that the purpose of TAXASSIST is to make tax related processes transparent and simple. Under this initiative, taxpayers will get full assistance in documenting their claims, clarifications and responding to possible notices. Giving examples, the Income Tax Department explained what challenges taxpayers can face in claiming tax exemption under section 80GGC.
This section provides exemption to those taxpayers who donate to a registered political party or electoral trust. The department has cited three major scenarios to explain how TAXASSIST will help:
Case 1: Claim of exemption by mistake
If a taxpayer has inadvertently claimed exemption under 80GGC, TAXASSIST will advise them to revise the return or file ITR-U to deposit the tax, interest and excess refund. Failure to do so may result in penalty or investigation.
Case 2: Claim of fake donation
If a taxpayer has availed exemption by showing fake or illegal donation, it will be considered tax evasion. In such cases too, TAXASSIST will advise the taxpayer to file ITR-U and deposit the tax and interest due, to avoid legal action.
Case 3: Claim of legitimate donation
If the donation has been made to a recognized political party, TAXASSIST will advise the taxpayer to preserve the donation receipts and proof of bank transactions. These documents will be required in case of investigation or clarification.
The department says that TAXASSIST will increase awareness among taxpayers and avoid unnecessary disputes.
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Deadline for filing returns extended to September 15
This time the Income Tax Department has extended the last date for filing returns for the financial year 2024–25 from July 31 to September 15, 2025. The department said that this relief step will prove beneficial for those taxpayers who were getting delayed in filing returns.
