FinMin extends ITR deadline for certain taxpayers

Business

26 Jul 2018

ITR filing deadline extended for 'certain categories' of taxpayers

In a tweet, the Finance Ministry has announced that the deadline for the filing of Income Tax returns has been extended by a month to August 31, 2018, albeit only for certain categories of taxpayers.

Apart from the said categories, the rest of eligible taxpayers will have to file their ITRs by July 31.

Funnily enough, the "categories" have not been specified, till now.

The Finance Ministry's tweet announcing the extension

There are penalties this time, don't miss the deadline

Until last year, there were no penalties for filing ITRs late. However, owing to amendments made in the Finance Act 2017, taxpayers face a Rs. 5,000 penalty for late filing before December 31, 2018, and Rs. 10,000 for filing ITRs beyond January 1, 2019.

Share this timeline

Income Tax

Income Tax Deadlines

Income Tax Department

IT Returns

Finance Ministry

Finance Act 2017

ITR

Share this timeline

Ask NewsBytes
User Image

Most asked questions

For which categories of taxpayers the deadline is extended?

More questions

For which categories of taxpayers the deadline is extended?

Asked 2018-07-26 22:19:15 by Dhaval Patel

Answered by NewsBytes

The deadline, as announced by the Ministry of Finance is extended till 31st August for all taxpayers. The said categories mean all assessees who were liable to file up to 31st July.

Next Timeline