Explained: Why govt has extended deadline to file Income Tax returns to August 31

Income Tax Return (ITR) Filing Last Date Extended: The new rule of mandatory filing of income tax return by July 31 for this category of taxpayers had kicked in last year.

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The drop in e-filings comes at a time when the number of registered filers have risen. (Representational Image)

The Central Board of Direct Taxes (CBDT) Tuesday extended the due date of filing the income tax return by one month for a certain category of taxpayers. Individuals, Hindu Undivided Family (HUF), Association of Persons and businesses whose accounts are not required to be audited need to file their income tax returns by July 31, 2019 for the assessment year 2019-20 (financial year 2018-19). This date has now been extended to August 31, 2019, as “taxpayers were facing certain difficulties”.

Why last date to file ITR is extended

“The due date for filing of Income Tax Returns for Assessment Year 2019-20 is 31.07.2019 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 2019 to 31st August 2019 in respect of the said categories of taxpayers,” the finance ministry said in a statement.

Also Read | ITR filing: How long does it take to get an income tax refund online

New Rule

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The new rule of mandatory filing of income tax return by July 31 for this category of taxpayers had kicked in last year. Prior to that, taxpayers could file their return by March 31 without paying any penalty. If the return is furnished after the due date of filing but on or before December 31, it will attract a penalty of Rs 5,000, which doubles to Rs 10,000 if the return is filed between January 1 and March 31. If the total income of the person, however, does not exceed Rs 5 lakh, the penalty shall not exceed Rs 1,000.

Also Read | Filing your income tax returns at the last minute? Keep these 6 things in mind

“It has been reported that some of the taxpayers are facing difficulties in filing income-tax returns due to various reasons including the extension of due date for issue of Form 16 for the Assessment Year 2019-20,” the government said. The Income Tax department last month had extended the deadline for employers to issue tax deducted at source certificate in Form 16 for the financial year 2018-19 to its employees by 25 days from June 15 to July 10.

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