The Government on Monday extended the due date for submitting income tax returns and audit reports to October 15, 2018.
The Central Board of direct Taxes (CBDT) extended the date for all assesses who are liable to file income tax return and audit reports for 2018-19. Beyond the revised date, they would be penalised under the IT Act.
“CBDT extends due dt for filing of Income Tax Returns & audit reports from 30th Sept,2018 to 15th Oct, 2018 for all assesses liable to file ITRs for AY 2018-19 by 30.09.2018, after considering representations from stakeholders. Liability to pay interest u/s 234A of IT Act will remain,” the Income Tax Department tweeted.
Prior to this, the Institute of Chartered Accountants of India (ICAI ) has been consistently asking and have submitted three petitions to the CBDT for an extension. The Institute has requested the Board to extend the last date for filing returns and audits to October 31.