New Delhi: In a relief for salaried taxpayers, the government on Thursday extended the date for filing income tax returns by one month till August 31. The earlier deadline for filing the returns was July 31.
“The due date for filing of income tax returns for Assessment Year (AY) 2018-19 is July 31, 2018, for certain categories of taxpayers. Upon consideration of the matter, the Central Board of Direct Taxes (CBDT) extends the due date from July 31 to August 31 in respect of the said categories of taxpayers,” an official statement said. As per the IT portal, July 31 is the deadline to file your ITR for the assessment year 2018-19 for all other than following:
- Corporate-assessee or
- Non-corporate assessee (whose books of account are required to be audited) or
- Working partner of a firm whose accounts are required to be audited or
- An assessee who is required to furnish a report under section 92E.
As per government records, around 6.84 crore income tax returns were filed during FY 2017-18, compared to 5.43 crore filed during FY 2016-17. The number is expected to rise further this year.
Other than above mentioned, all assessees need to file their ITR by July 31. Until last assessment year (AY) there was no penalty for filing belated income tax returns. However, this penalty is applicable from AY 2018-19. However, now, an individual would have to pay a fee of up to Rs 10,000 for filing income tax return after the due date.
With IANS inputs.