INSUBCONTINENT EXCLUSIVE:
The taxman announced a new due date of October 31 filing of ITR and audit reportsThe government on Monday extended the due date for filing
of income tax return (ITR) and audit report
The Central Board of Direct Taxes, the apex policymaking body of the Income Tax Department, said the due date for filing of income tax
returns and audit reports for Assessment Year 2018-19 (financial year 2017-18) is October 31, 2018 for certain categories of taxpayers
Monday's move marked the second extension granted by the Central Board of Direct Taxes to assessees whose books of accounts have to be
announced extension of the then due date of September 30 by a similar 15 days, to October 15, 2018.However, assessees filing their return of
income "within the extended due date shall be liable for levy of interest as per provisions of section 234A of the Income-tax Act, 1961",
the Central Board of Direct Taxes said in its statement on Monday
That means the liability to pay interest on account of late filing of income tax return will remain in place.Filing of income tax returns by
salaried taxpayers and those opting for Presumptive Income Scheme surged 71 per cent to 5.42 crore till August 31, according to data
