Income Tax Return Last Date extended! Relief for taxpayers; deadline for ITR filing extended by a month; 5 things to know

Yes, Income Tax Return last date has been extended. Taxpayers will get some more time to file their ITR returns as the government has extended the dates for filling Income Tax  Returns for the year 2018-19. The last date for filing income tax returns (ITR) for the assessment year 2019-20 has been extended to August 31, 2019. 

Official Twitter handle of Income Tax India said, ''The Central Board of Direct Taxes (CBDT) extends the ‘due date’ for filing of Income Tax Returns from 31st July, 2019 to 31st August, 2019 in respect of certain categories of taxpayers who were liable to file their Returns by 31.07.2019.''

As a taxpayer, you must know these 5 things about Income Tax Return Last Date:

1. Earlier, CBDT had extended the deadline for employers to file their TDS returns, from May 31, 2019 to June 30, 2019. Also the last date to issue Form 16 by the employer was also extended from June 15, 2019 to July 31, 2019 which led to the change in ITR deadline, as employees waiting to get their Form 16s to file their ITRs were left with only 21 days to file their tax return by the earlier deadline of July 31. 

2. The due date for filing of income tax returns for every Assessment Year for certain categories of taxpayers usually remains July 31. 

3. In case the ITR is not filed by an individual before the expiry of the deadline, then the individual shall have to pay a late filing fee of Rs 5,000, if filed by December 31. 

4. However, if the ITR is filed between January 1 and March 31, then an individual will have to pay Rs 10,000 as a late filing fee. 

5. Now after the extension of the deadline, the tax payers of the country will have more time to file their ITRs without worrying about late filing fees.