File your Income Tax Return now, the last date won’t be extended

Income tax returns

The Hush Post | 3:59 pm | One-minute read |

In case you haven’t filed your Income Tax Return (ITR) for the last financial year, do it now. The last date for filing the ITR is August 31 and it won’t be extended any more. The Income Tax Department has made it clear that the date won’t be given any extension this time.

Actually, social media was flooded with news on Friday that the deadline for filing the income tax returns has been extended to September 31. A fake letter said to be issued by the Central Board of Direct Taxes (CBDT) created confusion among the tax payers. As the rumour went viral on social media, the IT department cleared the air.

“It has come to the notice of CBDT that an order is being circulated on social media pertaining to extension of due dt for filing of IT Returns. It is categorically stated that the said order is not genuine. Taxpayers are advised to file Returns within extended due dt of 31.08.2019,”the Income Tax Department said on Twitter.

Notably, the IT department had extended the deadline for filing the tax returns from July 31 to August 31. However, this time the IT department is in no mood to extend it further.

If one fails to file the income tax returns for the financial year 2018-19 before or on August 31, he may have to pay a fine ranging from Rs. 5000 to Rs. 10,000. However, this is applicable to only those whose taxable income in FY 2018-19 is more than 5 lakh rupees.  Those who have the taxable income below 5 lakh rupees would have to pay Rs. 1000 fine in case of failure.

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