NEW DELHI: On Thursday, the government extended the last date for filing income tax return (ITR) for the assessment year (AY) 2018-19 from July 31 to August 31.
“The due date for filing of Income Tax Returns for Assessment Year 2018-19 is 31.07.2018 for certain categories of taxpayers. 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,” the finance ministry said in a statement.
Upon consideration of the matter, the Central Board of Direct Taxes (CBDT) extends the ‘Due Date’ for filing of Inc… https://t.co/CJcrf2anyp
— Ministry of Finance (@FinMinIndia) 1532607726000
Extending deadline for ITR filing however has now become a routine affair of sorts. The income tax (I-T) department has extended the last date for filing returns in each of the last seven years, save for 2014, for one reason or the other.
The finance ministry press release created some confusion as it did not specify on the “said categories”, which are in for the deadline extension.
Later, union minister Piyush Goyal, in a tweet, appealed to citizens to pay taxes within the extended due date.
The last date for submission of income tax has been extended from 31st July to 31st August 2018, I request every ta… https://t.co/jD7NDHHES7
— Piyush Goyal (@PiyushGoyal) 1532612994000
Goyal is in charge of the finance ministry till Arun Jaitley recuperates from a kidney surgery.
If an individual fails to file ITR on time, a penalty of Rs 5,000 will be levied if the return is furnished before December 31.The late fee will be Rs 10,000 if the return is filed after December 31.