Income Tax Return alert: CBDT extends ITR filing, audit report deadline for certain categories

The government has today extended the deadline for filing Income Tax Return (ITR) and audit report for the financial year 2017-18 till October 15 from September 30. The decision has been taken after consulting all the stakeholders, said the finance ministry.

"Due Date for filing of Income Tax Returns and Audit Reports for Assessment Year 2018-19 is 30th September, 2018 for certain categories of taxpayers. Upon consideration of representations from various stakeholders, CBDT extends the ‘Due Date’ for filing of I.T. Returns as well as reports of Audit (which were required to be filed by the said Specified date) from 30th Sept.,2018 to 15th Oct. 2018 for said categories of taxpayers," said the finance ministry on Twitter.

Upon consideration of representations from various stakeholders, CBDT extends the ‘Due Date’ for filing of I.T. Returns as well as reports of Audit (which were required to be filed by the said Specified date) from 30th Sept.,2018 to 15th Oct. 2018 for said categories of taxpayers

— Ministry of Finance (@FinMinIndia) September 24, 2018

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.

Due Date for filing of Income Tax Returns and Audit Reports for Assessment Year 2018-19 is 30th September, 2018 for certain categories of taxpayers.

— Ministry of Finance (@FinMinIndia) September 24, 2018

"However, there shall be no extension of the Due Date for the purpose of Section 234A (Explanation 1) of the Income Tax Act,1961 pertaining to Interest for defaults in furnishing return & Assessee shall remain liable for payment of interest as per provisions of Sec 234A of IT Act," added the ministry.

As per CBDT data, ITR filing by salaried taxpayers and those opting for presumptive income scheme surged 71 per cent to 5.42 crore till August 31. These categories of taxpayers had to furnish their ITRs for the financial year 2017-18 by last month.