The Central Board of Direct Taxes (CBDT) has extended the due date for filing of Income Tax Returns from 31 July 2018 to 31 August 2018, for certain categories of Taxpayers.
The Central Board of Direct Taxes (CBDT) has extended the due date for filling of Income Tax Returns to 31 August 2018, for categories of Taxpayers who were to file their returns by July 31.
The decision comes days ahead of the July 31 deadline, which several groups had requested the government to push to later.
CBDT had notified the new income tax return forms for assessment year 2018-19 on April 5. Experts said the introduction of new forms was leading to delays in filling of returns.
Further, the CBDT had said non filing of Income Tax Return (ITR) Before the due date from the assessment year would lead to a penalty of ₹ 1000, ₹ 5000 and ₹ 10,000 depending on when the returns were filed after the deadline. The fine for Taxpayers having income under ₹ 5 Lakh remained at ₹ 1000.
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The decision comes days ahead of the July 31 deadline, which several groups had requested the government to push to later.
CBDT had notified the new income tax return forms for assessment year 2018-19 on April 5. Experts said the introduction of new forms was leading to delays in filling of returns.
Further, the CBDT had said non filing of Income Tax Return (ITR) Before the due date from the assessment year would lead to a penalty of ₹ 1000, ₹ 5000 and ₹ 10,000 depending on when the returns were filed after the deadline. The fine for Taxpayers having income under ₹ 5 Lakh remained at ₹ 1000.
Read Gujarati News : Click Here
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