Direct Tax
Extension of due date for furnishing return of income to 15 September 2025
Circular NO. 6/2025 [F. NO. 225/205/2024/ITA-II] dated 27 May 2025
Due date of furnishing Return of Income for the Assessment Year 2025-26 for a person other than any person to whom tax audit or audit under any other law is applicable and partner of a firm who is required to audited under any law was 31 July 2025. In view of the extensive changes introduced in the notified Income Tax Returns (ITRs) and considering the time required for system readiness and rollout of ITR utilities, the Central Board of Direct Taxes (CBDT) has extended the due date to 15 September 2025. CBDT also stated that as TDS credits from statements due by 31 May 2025, will be reflected only in early June, there will be constraints in the filing window in absence of extension.
This extension provides additional time for the taxpayers to prepare and file their returns. However, the suo moto increase in timelines by CBDT has raised apprehensions in mind of individual taxpayers about the kind of changes/ data mapping/additional disclosure requirements that may be introduced in new utility.
CBDT has already released utilities for ITR 1 and ITR 4. Utilities for other ITRs are still awaited.
Indirect Tax
Foreign Trade Policy
Restoration of RoDTEP support for Advance Authorization Holders, SEZs, and EOUs from 1 June 2025
Notification No. 11/2025-26 dated 26 May 2025
In a significant policy development aimed at enhancing the competitiveness of Indian exports, the Government of India has reinstated the Remission of Duties and Taxes on Exported Products (RoDTEP) benefit for products manufactured by Advance Authorization holders, Export Oriented Units (EOUs), and Special Economic Zone (SEZ) units, w.e.f. 1 June 2025.
Earlier, the RoDTEP support for aforesaid exporters had been extended only up to 5 February 2025, vide Notification 66/2024-25 dated 20 March 2025.