ITR alert! Income Tax Return filing last date to be extended beyond August 31 in Kerala and more?

Income Tax Return (ITR) filing 2018: Have you not filed your ITR yet even as only 9 days are left for the end of August 31 deadline? Well, if a report is to be believed, the government may extend the last date beyond August 31, but probably that does not apply for all taxpayers. In fact, you should ensure you file your ITR well before the deadline and not wait for any extension of date by authorities. The situation is in a state of flux at the moment and depends on many factors.

A report in Hindi daily Hindustan today claimed that the Finance Ministry is considering a proposal to once again extend the ITR filing deadline in the wake of the devastation caused by floods in Kerala and several other states in the country. 

The report quoted official sources as saying that the ministry is mulling to extend the deadline for people in the flood-affected areas. However, significantly, a final decision on extending the deadline and the areas where it would apply may be taken only after reading the data on ITRs filed by August 31.  For now, people not filing ITR by August 31 may end up paying a fine of Rs 5000. 

TRENDING NOW

Back-To-Back Upper Circuit! This multibagger infrastructure stock hits upper circuit for 12th straight session

Meet Dr Mohan Yadav - BJP's pick as Madhya Pradesh's Chief Minister-elect

Retail inflation now stable, temporary increases due to demand-supply mismatches: FM Nirmala Sitharaman

Canara Bank, Wipro, Future Consumer, other stocks to watch out for on Tuesday

DLF CFO Vivek Anand resigns

D-Street Newsmakers: Tata Power, Subros, Ashok Leyland among 10 stocks that buzzed the most on Monday

States should look at asset sales in infra sector to bolster revenues: RBI Report

Multibagger defence stock Apollo Micro Systems approves conversion of warrants - Details

India planning to move from WPI to PPI in future: Official

Tata Power shares near record high after power generator joins hands with Indian Oil to set up EV charging points

Govt mulling restoration of old pension scheme (OPS) for central govt employees? Minister of State for Finance Pankaj Chaudhary says THIS in Lok Sabha

BPCL dividend: Bharat Petroleum Corp shares to trade ex-date on Tuesday

RBI approves HDFC Bank's product on offline retail payments for adoption

Sovereign Gold Bond 2023–24: Next tranche to open next week; all you need to know

Old Tax Regime clear winner, preferred by 63% taxpayers who prioritize long-term investments, tax-saving: Survey

Last month, the government had extended the ITR filing deadline by a month to August 31. A Finance Ministry statement had then said that upon consideration of the matter, the Central Board of Direct Taxes (CBDT) extends the due date for filing of Income Tax Returns from July 31, 2018 to August 31, 2018 in respect of the said categories of taxpayers.

Watch this Zee Business video

"The last date for submission of income tax has been extended from July 31 to August 31, 2018, I request every taxpayer to submit their income tax by the due date, fulfil their duty as a law-abiding citizen and contribute in the nation building," Finance Minister Piyush Goyal had tweeted.