Income tax return (ITR) filing deadline extended to August 31st,2018 (Friday)

There is good news for taxpayers who haven’t filed their Income Tax Return till now. The Ministry of Finance, in a notification issued today, has announced the extension of the due date for filing the Income Tax return to 31st August from 31st July, 2018. A tweet by the Ministry said, “Upon consideration of the matter, the Central Board of Direct Taxes (CBDT) extends the ‘Due Date’ for the filing of Income Tax Returns from 31st July 2018 to 31st August 2018 in respect of the said categories of taxpayers.”

The government on Thursday extended the deadline for filing income tax return for assessment year 2018-19. The deadline of July 31, 2018 has been extended by a month, the Ministry of Finance said in a statement. That means the assessees can file their income tax return (ITR) for financial year 2017-18 by August 31 without any penalty charges. The taxman imposes a fine up to Rs.10,000 for delayed filing of income tax returns. Filing the income tax return after the new deadline of August 31 will attract a penalty of up to Rs. 10,000 as per existing rules.