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Today (31st August) is the last date for filing Income Tax returns
Posted on: 31/Aug/2018 11:40:53 AM
Today (Friday, 31st August) is the last day for filing the Income Tax returns for the financial year 2017-18.
Individuals earning incomes through monthly salaries, pension, and other property incomes such as house rent will have to file their Income Tax returns before 31st July as per the earlier announcement. However, the deadline was subsequently extended up to 31st August – today.
Failure to file the Income Tax returns today will entail a penalty of Rs. 1000 for those with an annual income of less than Rs. 5 Lakhs.
For those who earn an annual income of over Rs. 5 Lakhs, they need to pay a penalty of Rs. 5000 if they file their IT returns before 31st December. If they do it before 31st March, they need to pay a fine of Rs. 10000.
As the state of Kerala has been severely affected by the recent floods, the individuals filing Income Tax returns from this state have been an extended deadline up to 15th September.
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