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HomeNewsNational NewsIncome TX Return deadline extended to 31 Aug
Thursday, 26 July 2018 11:23

Income TX Return deadline extended to 31 Aug

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Giving relief to late IT return filers, the Central Board of Direct Taxes (CBDT) has, on 26 July, extended the due date for filing of Income Tax Returns to 31 August 2018 from 31 July.

The government took this step as several groups had requested for the push. CBDT had notified the new income tax return forms for assessment year 2018-19 on April 5. Experts said the introduction of new forms was leading to delays in filing of returns.

The CBDT had said non-filing of ITR before the due date from this assessment year would lead to a penalty of Rs 1,000, 5,000 and Rs 10,000, depending on when the returns were filed after the deadline. The fine for taxpayers having income under Rs 5 lakh remained at Rs 1,000.

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