The Central Board of Direct Taxes (CBDT) has extended the deadline to issue Form 16 for employers and owing to it the last date for filing ITR may be extended beyond the usual 31st July of every year. Also, the last date for filing Form 24Q by the tax deductors for the financial year 2018-19 has been extended.
The order released by the CBDT on May 4 said the due date of TDS return (Form 24Q) by the Employer is extended from 31.05.2019 to 30.06.2019. Consequently, due date to issue Form 16 has also been extended from 15.06.2019 to 10.07.2019.
The deadline to file Form 24Q was previously extended only for the state of Odisha but now the extension has been made for the entire country and employers can now file TDS return until June 30. Also, the last date for employers to issue Form 16 to employees' stands extended from June 15 to July 10, 2019.
As per the CAclub the extension has been made as deductors or employers were confronting issues in filing the salary TDS return form in the recently revised format.
Form 24Q is a quarterly statement showing deduction of tax on salary for the quarters of the financial year and is filed by the employer. In May there has been an important change made to this form.