Income tax returns(ITR) filing: Last day today? Are you in trouble? Find out
Income tax returns(ITR) filing: July 31 is a date that has been riveted the minds of each and every taxpayer in the country. As this deadline looms, anxiety keeps increasing till ITR filing is done and dusted. This time, is different, though! Those who have so far not filed their Income Tax returns can breathe easy as they have got extra time to file their tax returns. Otherwise, the last day, July 31, 2018 would have been very hectic for many of us. ITR filing last day has been extended to August 31 and this has no doubt given great relief. The development in this regard took place after The Central Board of Direct Taxes (CBDT) last week decided to extend the due date for filing of Income Tax Returns from July 31.
“Upon consideration of the matter, the Central Board of Direct Taxes (CBDT) extends the ‘Due Date’ for filing of Income Tax Returns from 31st July, 2018 to 31st August, 2018 in respect of the said categories of taxpayers,” tweeted the Ministry of Finance in its twitter account.
This decision is expected to aid thousands who are yet to file their returns for the previous fiscal year, as the process takes time to make the filing.
Earlier, the Income Tax Department had also issued advertisement guiding taxpayers over their ITR filing on multiple occasion. Besides, the department also issued a warning to taxpayers who would fail to file their ITR before the scheduled deadline. The department opened an e-filing window for income tax return (ITR) for assessment year 2018-19 on its website for salaried employees.
On its official website, the IT department had stated that file tax return before due date and avoid paying late fee up to Rs 5000.
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The department had also emphasized on the word Hurry in regards to filing ITR before deadline, as last minute filing can lead to various problems or errors.