Income Tax Returns filing deadline extended to August 31

The government on Tuesday extended the due date for filing income tax returns by individuals for financial year 2018-19 by a month till August 31. Individuals, including salaried taxpayers, and entities – who do not need to get their accounts audited – were required to file their income tax returns for fiscal 2018-19 (Assessment Year 2019-20) by July 31, 2019.

Why last date to file ITR is extended

There have been demands for an extension in filing ITR date since issuance of tax deducted at source (TDS) statement for 2018-19 fiscal was delayed.

Income Tax department had last month extended the deadline for employers to issue Form 16 TDS certificate for financial year 2018-19 to its employees by 25 days till July 10.

This left the salaried taxpayers with a limited time-frame of just 20 days to file their income tax returns.

Even if you miss the last date you can file your I-T return any time during 2019-20 (till March 31, 2020). But there is a hefty fine to be paid for not filing by the due date.

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