The deadline to file Income tax return for relevant financial year is July 31.
However for the current financial year 2018-19, The due date of filing of Return of individuals has been extended from July 31, 2019 to August 31, 2019.
As the taxpayers were already facing many challenges in filing income tax return by due date of July,31. It is a big relief provided by the finance ministry.
A memorandum for requesting to extend the due date of filing of return was also submitted by All India Federation of Tax Practitioners (AIFTP) on 17thJuly, 2019 which had described the following difficulties faced by chartered accountants and other stakeholders :
- Updated Income Tax return forms are uploaded late.
- Delay in getting updated Form 26AS and TDS certificates from deductors :
- Many States are adversely affected due to flood
- Difficult in collecting data for Long term capital gain
The extension of due date will provide sufficient time to file ITR properly without paying late fee.