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Extended deadline for IT return filing till October 15
Posted on: 25/Sep/2018 12:00:43 PM
The latest update from taxation body of the government announced the extended deadline for filing Income Tax Return (ITR) with the audit report submission before October 15 for the financial year 2017-18.
Central Board of Direct Taxes (CBDT) received many requests from stakeholders to extend the last date for filing returns by tax payers concerned with the audition of the individual accounts. This lead to the extension of both IT return filing and audit report submission for specified date structure from September 30, 2018 to October 15, 2018.
According to the CBDT reports there will not be any kind of further extension for the announced due date under Section 234A (Explanation 1) of the I-T Act, 1961. The taxpayers are liable for the penalty and payment of interest as per provisions of the I-T Act said the government tax governing authority.
The recent data released by CBDT the tax filing furnished from the salaried tax payers and people choosing the option of presumptive income scheme denoted a total of 71 percent to 5.42 crore till August 31, 2018. These two categories were bounded to furnish their ITRs by last month for the financial year 2017-18.
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