The Ministry of Finance, Department of Revenue, issued Notification No. 68/2024-Income Tax on 18th July 2024, amending a previous notification (No. 63/2021 dated 13th May 2021). This amendment, under the authority of sub-clause (vi) of clause (b) of Explanation 1 to clause (23FE) of section 10 of the Income-tax Act, 1961, extends the deadline for specified tax provisions from “31st March 2024” to “31st March 2025.” This change is effective from 1st April 2024 and is documented in the Official Gazette, ensuring the continuity of tax exemptions beyond the original deadline.
MINISTRY OF FINANCE
(Department Of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
New Delhi
Notification No. 68/2024-Income Tax | Dated: 18th July, 2024
S.O. 2844(E).–– In exercise of the powers conferred by sub-clause (vi) of clause (b) of Explanation 1 to clause (23FE) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following amendment in the notification of the Government of India in the Ministry of Finance, Department of Revenue (Central Board of Direct Taxes) number S.O. 1853(E), dated the 13th May, 2021 (Notification No. 63/2021/F. No. 370142/37/2020-TPL) published in the Gazette of India, Extraordinary, Part II, section 3, sub-section (ii), except as respects things done or omitted to have been done on and from the 1st day of April, 2024 till the date of publication of this notification in the Official Gazette, namely:––
In the said notification, in the opening paragraph, for the figures, letters and words “31st day of March, 2024”, the figures, letters and words “31st day of March, 2025” shall be substituted.
[Notification No. 68/2024/F. No. 500/Misc./S10(23FE)/FT&TR-II]
APOORV TIWARI, Under Secy.
Note:—The principal notification was published in the Gazette of India, Extraordinary, Part II, section 3, sub-section (ii) vide number S.O. 1853(E), dated the 13th May, 2021.
