ITR utilities not live yet: Will the e-filing deadline be extended?
On the other hand, tax professionals often use the offline or Excel formats, which require downloading the form, filling it out on your system, and uploading it back to the portal.WHY IS THERE A DELAY IN UTILITIES THIS YEAR?The tax department hasn't given an official reason for the delay. But experts believe it might be because of the changes made to the ITR forms this year. These updates could take extra time to reflect in the software tools.WILL THE DELAY PUSH THE FILING DEADLINE?advertisementMany taxpayers are wondering if the delay in these filing tools means the return filing deadline will be pushed. But that's unlikely. The deadline for those who don't need to get their accounts audited remains July 31, 2025.Historically, most taxpayers file their returns in June or July anyway, so the department still has enough time to get things up and running. Plus, return processing has become quicker over the past few years.So, unless there's a major technical issue, the deadline is expected to stay the same. It's a good idea to stay prepared and regularly check the income tax portal for updates. Once the utilities go live, you can quickly complete the filing without any rush.Trending Reel
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
an hour ago
- Time of India
VKTX stock tumbles 29% today — Viking Therapeutics weight-loss trial results fuel massive investor sell-off and market jitters
Viking Therapeutics stock plunged after the release of its Phase 2 trial data, as safety questions overshadowed promising efficacy company's oral obesity drug candidate, VK2735, delivered up to 12.2% weight loss over just 13 weeks, a result that easily cleared trial goals and initially looked like a breakthrough. But investor enthusiasm evaporated when details revealed a 28% discontinuation rate among patients—far higher than the placebo group. That raised red flags about tolerability and long-term use, sending Viking shares tumbling nearly 40% in pre-market trading and sparking sharp debate among analysts over the drug's commercial future. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like This Could Be the Best Time to Trade Gold in 5 Years IC Markets Learn More Undo A promising obesity drug meets market skepticism Viking Therapeutics (NASDAQ: VKTX) delivered headline-grabbing results from its Phase 2 VENTURE trial this week. The company's oral obesity drug candidate, VK2735, showed up to 12.2% average body weight reduction over 13 weeks , a figure that easily cleared both primary and secondary trial endpoints. ALSO READ: XRP crashes below $3 today: a critical juncture — buy now or wait for the next surge? here's what analysts say Live Events On paper, that kind of efficacy would typically excite investors. Instead, shares collapsed in early trading—dropping more than 37% pre-market —as attention shifted from efficacy to tolerability. Why Wall Street reacted so sharply The sticking point was the 28% discontinuation rate among patients on VK2735, compared with 18% on placebo. That gap immediately raised concerns over long-term adherence and whether side effects could undermine commercial viability. Investors, who had bid VKTX up more than 100% year-to-date, hit the sell button. By mid-morning, the stock traded near $29.80 , a steep fall from Monday's close of $42.09. While some bargain hunters re-entered during intraday swings, sentiment clearly shifted. Analysts split: efficacy strong, but tolerability divides opinion Research houses wasted no time weighing in. Mizuho analysts compared Viking's candidate to Eli Lilly's oral GLP-1 therapy , highlighting that VK2735's discontinuation rate was significantly higher—a potential red flag for prescribers. On the other hand, JPMorgan's Hardik Parikh struck a more balanced tone. He emphasized that at higher doses, patients lost 7.5–11% more weight than placebo , arguing that side effects appeared 'manageable' and not disqualifying. That divide between analyst camps underscores the central tension: does efficacy outweigh tolerability, or will safety worries cap enthusiasm until larger trials provide clarity? Technicals add another layer of complexity Just days before the data release, VKTX had been flashing strength. Its Relative Strength (RS) rating climbed from 61 to 82 in two sessions, placing it among the top-performing biotech names. However, the stock had already run far past its earlier $3.50 breakout level, leaving little cushion for bad news. For traders, that meant a sharp pullback was almost inevitable once sentiment turned. What this means for investors now For retail and institutional investors alike, the message is clear: volatility isn't going away. VKTX will likely trade in wide ranges as the market digests whether discontinuation rates can be reduced in Phase 3 trials or if formulation adjustments are needed. If you're a long-term believer in GLP-1 innovation: VK2735's efficacy profile is hard to ignore. Future trial designs may incorporate patient-selection strategies or titration protocols that improve tolerability. If you're trading short-term momentum: VKTX is extended beyond classic buy points and is now vulnerable to deeper pullbacks. A retracement toward moving averages or the formation of a 'three-weeks tight' pattern could offer cleaner entries. If you're cautious: wait for updated Phase 3 trial timelines, safety disclosures, or regulatory commentary before committing capital. Broader context: the GLP-1 arms race The weight-loss drug market, led by Novo Nordisk's Wegovy and Eli Lilly's Zepbound , is one of the most lucrative races in pharma. Viking's data puts it on the map as a legitimate contender, but execution will matter more than early efficacy headlines. Competitors have already set a high bar on both safety and commercial rollout, meaning any hint of tolerability weakness is magnified. FAQs: Q1: Why did Viking Therapeutics stock drop after its Phase 2 trial results? Because investors worried about the high 28% discontinuation rate despite strong weight-loss efficacy. Q2: Is Viking Therapeutics still a strong contender in the obesity drug market? Yes, its efficacy is strong, but tolerability concerns must be addressed in Phase 3 trials.
Mint
an hour ago
- Mint
How can I file a tax return and claim a TDS refund on behalf of a deceased parent?
Yes, you can file an ITR for a deceased parent and claim a TDS refund, but there is a specific process to follow. It involves two major steps: obtaining proof that you are the legal heir, and registering yourself on the income tax e-filing portal as their authorised representative. This ensures the return is filed in agreement with tax rules and that any refund is credited correctly. In Mumbai (and most parts of Maharashtra), this is done through the taluk or tehsildar office or the local municipal corporation office in the area where the deceased lived. The process typically involves submitting an application form, the death certificate, your identity and address proof, and documents showing your relationship to the deceased. Pay a nominal fee, and after verification the Tehsildar issues the certificate. This may take a couple of weeks, so it's best to start early. Once you have the legal-heir certificate, log in to your own account on the income tax portal and request registration as a representative assessee. Select 'Deceased (Legal Heir)' and upload the required documents: death certificate, PAN of the deceased, legal heir proof, and your bank account details for refund credit. After the income tax department approves the request, you can file the ITR on behalf of the deceased. The return must include all income earned from 1 April until the date the person died. Income received after the date of death (such as interest credited later) is taxable in your own hands as the legal heir. If TDS was deducted during their lifetime, you can claim the refund in the ITR. If the original bank account was closed, you can raise a 'refund re-issue' request after filing, specifying your own validated account. No separate prior intimation to the tax department is needed beyond the online legal-heir registration. If there are multiple heirs, ensure there is clarity and consensus to avoid disputes. Keep all original documents safe as they may be needed for verification. While the process is straightforward, it can feel overwhelming during a period of grief so consider taking help from a trusted tax professional to lighten the load. Nehal Mota is co-founder & CEO of Finnovate.
News18
2 hours ago
- News18
ITR Filing FY2024-25: Reporting Tax-Exempt Income, Such As PPF, Gratuity, Is Important; Know The Reason
Last Updated: Reporting tax-free income in your ITR is mandatory for transparency, even though it isn't taxable. When it comes to filing your income tax return (ITR), most people focus only on taxable income. But what many forget is that tax-free income also needs to be reported. While you don't pay any tax on these earnings, the Income Tax Department still requires you to disclose them in your return. 'While exempt income is not taxable, it is mandatory to disclose it in ITR under the 'Exempt Income' schedule," advises Nishant Khemani, Managing Partner of the Saturn Consulting Group, as quoted by The Times of India. Many taxpayers skip this step, thinking it is not important, but failing to do so could lead to unnecessary scrutiny later on. Reporting exempt income is not just a formality; it ensures transparency and saves you from explaining large sums of money in the future. Even though there is no penalty for not reporting exempt income, including it in your ITR can make life easier. For example, if you receive a large maturity payout from your PPF account or a life insurance plan, it will be much simpler to explain the source of funds when the disclosure is already made in your return. Why You Must Report Exempt Income Transparency is key when filing your tax return. The ITR is meant to capture all your financial transactions for the year, not just the ones that attract tax. This includes incomes that are completely exempt. This disclosure becomes mandatory if your gross total income exceeds the basic exemption limit or if you are otherwise required to file a tax return. Not mentioning these incomes can also cause issues if your Annual Information Statement (AIS) already shows such transactions. If there is a mismatch, your return may be flagged for verification, leading to delays in refunds. Interest earned on Provident Fund accounts and the Public Provident Fund (PPF) is fully exempt under Section 10(11). Withdrawals from the Provident Fund after five years also enjoy full exemption under Section 10(12). Similarly, interest and maturity proceeds from the Sukanya Samriddhi Yojana are tax-free under Section 10(11A). Life insurance policy maturity proceeds are exempt under Section 10(10D), provided the annual premium does not exceed 10 per cent of the sum assured. Leave encashment on retirement is fully exempt for government employees and partly exempt for others under Section 10(10AA). Retrenchment compensation enjoys relief up to specified limits under Section 10(10B), while Voluntary Retirement Scheme (VRS) receipts are exempt up to Rs 5 lakh once in a lifetime under Section 10(10C). Tax-free bond interest from specified institutions like NHAI or REC is also covered under Section 10 (15). Gifts from specified relatives, or those received on marriage and certain ceremonies, are exempt under Section 56(2)(x). Scholarships (Section 10(16)) and government-approved awards or rewards (Section 10(17A)) are fully exempt as well. Gratuity is exempt up to Rs 20 lakh for non-government employees under Section 10(10). Income received by a member from a Hindu Undivided Family (HUF) is exempt under Section 10(2), while a partner's share of profit from a partnership firm is exempt in their hands (Section 10(2A)), since the firm itself pays the tax. Agricultural income is fully exempt under Section 10(1), but must still be reported in your return. If it exceeds Rs 5,000, a separate computation in Schedule EI is required. view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy. Loading comments...
