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Extension of Income Tax return filing date
The CBDT has extended the last date to file income tax return for the assessment year 2018-19 for category of taxpayers from 31 July 2018 to 31st August, 2018. Earlier Annual return of income for the assessment year 2018-19 for a category of taxpayers were required to file upto 31st July, 2018. Due to technical issues on income tax websites, the income tax department decided to extend the return filing date to 31 August, 2018.
A taxpayer shall file his income tax return before 31 August, 2018 and shall verify his/her return within 120 days. The taxpayers no longer required to send ITR-V to the Income Tax Department in Bangalore. The department has enabled online verification of income tax return. A taxpayer can e-verify his return either through Aadhar OTP, through Net Banking or Bank Account Number.
However, after the due date i.e. 31st August 2018, any income tax return filed by person other than companies or person whose accounts are required to be audited will attract penalty of Rs 5000-10000.