Deadline extended for filing Tax returns (ITR) for AY 2018-2019 (FY 2017-2018)
The government on Thursday extended the deadline for filing income tax return for assessment year 2018-19.
The deadline of July 31, 2018 has been extended by a month to 31st August 2018
Assessee can now file their income tax return (ITR) for financial year 2017-18 (AY 2018-2019) by August 31 without any penalty charges.
Relief to the taxpayers: This will be a relief for taxpayers who are yet to file their tax returns as from this year, as per a budget provision, late filing of tax returns will attract a penalty of up to ₹10,000.
Until last assessment year (AY) there was no penalty for filing belated income tax returns. However, this penalty is applicable from AY 2018-19. A new section 234F was inserted by the government in the Income Tax Act. As per the new prov...