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Deadline To File ITR and Audit Report Extended
The deadline to file income tax returns (ITR) and audit report for the financial year 2017-18 for some classes of taxpayers was extended by the government on Monday to 15 October from 30 September. The CBDT (Central Board of Direct Taxes) decided to postpone the date as it had received representations from stakeholders seeking an extension for taxpayers that need to audit their accounts.
A statement from the finance ministry said, "Upon consideration of representations from various stakeholders, the Central Board of Direct Taxes(CBDT) extends the 'due date' for filing of Income Tax Returns as well as reports of Audit (which were required to be filed by the said specified date) from 30th September, 2018 to 15th October, 2018 in respect of the said categories of taxpayers. However, there shall be no extension of the due date for the purpose of section 234A (Explanation 1) of the I.T. Act, 1961 pertaining to Interest for defaults in furnishing return, and the assessee shall remain liable for payment of interest as per provisions of section 234A of the Act."
The last date for salaried taxpayers to file their ITR for the financial year 2017-18 ended on 31 August. The CBDT had earlier released data that the ITR filing in this category of taxpayers along with those opting for presumptive income scheme rose by 71 percent to 5.42 crore till 31 August.
