ITR due date extended by finance ministry

ITR due date extended by the finance ministry:

As a big relief to the taxpayers, finance ministry extended the ITR due date for filing of income tax return. The ITR date is extended to 31st August 2018. Earlier the date was 31 July 2018. From this year there was a penalty for late filing of income tax return. This was making taxpayers anxious.  Finance ministry brings a great relief to all taxpayers. It was announced via a tweet. An order u/s 119 of income tax Act was passed by the government. Image of that order is attached here. Thus you can refer it for confirmation. The penalty for late filing was Rs. 1000, Rs. 5000 and Rs. 10,000 depending on the income of taxpayers. There was a consistent demand for it.

The image of the tweet by the ministry is also here. Thus it is final that date is extended.

(1) Please, read this carefully. The earlier twitter which talks of 31st July says “certain categories” and later twitter which talks of the extension to 31st August says “said categories”.

Hence the “said categories” used in later twitter is for “certain categories”.

(2) what is “certain categories”?

“Certain categories” means those who are required to file the return by 31st July.

It is a normal issue which would be submitted, that under the income-tax law there is no requirement to file the return for those who GTI (before certain exemptions) is below exemption limit. In practical life, they are submitting returns due to their voluntary desire. There is no due date for them too.

But afterward, Chairman of Central Board of Direct Tax(CBDT) has clarified the confusion.

CBDT Chairman Mr. Sushil Chandra clarifies that the due date extension to August 31, is applicable for all taxpayers who have to file returns by July 31.