9th December 2024, Kathmandu
The Patan High Court has extended the deadline for taxpayers with annual turnovers up to NPR 25 crores. They now have time until the end of Poush (mid-January) to submit their income/expense reports.
Income Tax Filing Deadline Extended
Court Challenges Revenue Department’s Notice
Earlier, the Internal Revenue Department (IRD) set a deadline for taxpayers to submit reports by December 31. The court issued an interim order, overturning this decision.
Taxpayers Can Request More Time
The Income Tax Act allows taxpayers to apply for an extension of up to three months. The court’s ruling ensures that businesses can request more time to meet tax filing requirements.
Legal Action Against IRD’s Announcement
Advocates Srijana Adhikari, Swastika Dangal, and Tika Karki, along with CA Shailendra Upreti, filed a writ petition challenging the IRD’s notice. They argued that it violated the Income Tax Act.
Court Grants More Time for Tax Filing
The court’s ruling gives taxpayers additional time to submit their tax reports. Businesses now have until mid-January to file their returns.
Income Tax Act Provides Extension Options
The Income Tax Act allows taxpayers to request a three-month extension. The court’s decision aligns with this provision, giving businesses more flexibility.
Clarity for Taxpayers
The court’s decision brings clarity for taxpayers worried about meeting the original deadline. It ensures a fair process for submitting tax returns.
For more: Income Tax Filing Deadline Extended
