The due date of filing of return for Financial year 2018 -19 is 31st July, 2019.
Ordinarily, Income tax department extends the due date of filing of return in case of any issues reported in return filing on the request of the assessee. Last year also, the people were facing problems while filing return consequently, the due date of filing of return was extended.
It further seems that the Income Tax Department may have to grant an extension to individuals for filing income tax returns for the AY 2019-20 on account of the changes in the format of tax returns as well as in the tax deducted at source (TDS) certificates issued by employers.
The CBDT has issued a notice dated June 4, 2019 for extending the due date for employers to file their TDS returns from June 30 to July 10, there could be a delay in issuing Form-16 to employees.
A local survey has been recently conducted on Friday for filing the return of income on or before of the due date of filing, which results as-
- 39% of individuals who replied, said they have not received Form – 16 from their employers yet.
- 49% of individuals said it was almost impossible to file the returns before the due date
- And 28% said it was almost impossible.
Hence, due to major issue of not getting Form 16 on time is an obstacle for the assessee to file their return on or before due date of filing of return.
Union budget FY20 also proposed that assessee is mandatory required to file the return of income if they get specified high-value transactions like spending on foreign travel, even the maximum amount not chargeable to tax is below the limit.
Those proposals will take effect after Finance Bill, 2019 is passed by Parliament and is signed into law.