Income Tax Return Filing: CBDT extends due date for filing ITR for AY2018-19

   28 Jul 2018
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The income tax law mandates the filing of return by July 31 for individuals and HUF for the assessment year 2018-19. The extension of the due date shall offer a respite from the fee charged u/s 234F of the Income Tax Act

There is good news for taxpayers who haven’t filed their Income Tax Return till now. The Ministry of Finance, in a notification issued today, has announced the extension of the due date for filing the Income Tax return to 31st August from 31st July, 2018. A tweet by the Ministry said, “Upon consideration of the matter, the Central Board of Direct Taxes (CBDT) extends the ‘Due Date’ for the filing of Income Tax Returns from 31st July 2018 to 31st August 2018 in respect of the said categories of taxpayers.”

The income tax law mandates the filing of return by July 31 for individuals and HUF for the assessment year 2018-19. For a certain category of taxpayers, the deadline to file the return is beyond July 31st. This extension has been done for the category of taxpayers who are required to file their return before July 31st.

Commenting on the same, Naveen Wadhwa, DGM, Taxmann.com, said, “The extension of complete one month would be a big relief for the taxpayers. This extension was really necessary to give a last chance to the small taxpayers to opt the habit of timely filing of income-tax return. This is the first year of applicability of late filing fees and probably that is the reason for extending the due date. The Govt. has given a clear indication that it won’t be strict with the small taxpayers and will give them a last chance to file the return on  time.

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