Why did government extend ITR filing deadline AGAIN? - letsdiskuss
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Vansh Chopra

System Engineer IBM | Posted on | Share-Market-Finance

Why did government extend ITR filing deadline AGAIN?


Entrepreneur | Posted on

For the Assessment Year 2018-19, the government added a new section 234F in the Income Tax Act that says a person who fails to file Income Tax Return before the due date would have to pay a fee of up to Rs 10,000.

According to this provision, a person would have to pay a fee of Rs 5,000 if she/he file Income Tax Return after the deadline (which, currently, is set to 31st August 2018). And if she/he doesn’t file for ITR until 31st December 2018, this fee will notch to Rs 10,000.

Now, as it goes with Indians, we’re never good at meeting deadlines. For this purpose, the government is continually pushing the final date for filing of Income Tax Return. Earlier, it was July 21st, 2018. In a tweet, the government pushed it to August 31st, 2018.

“Upon consideration of the matter, the Central Board of Direct Taxes (CBDT) extends the ‘Due Date’ for the filing of Income Tax Returns from 31st July, 2018 to 31st August,2018 in respect of the said categories of taxpayers.”—Ministry of Finance tweeted in wee hours of 26th July.

Frustrating (or a breather) it may be for the taxpayers, the practice of extending the last date to file Income Tax Return isn’t something new. Considering various factors and problems, the government is much lenient to the taxpayers to suit their convenience. Likely, the latest extend comes to ensure no one has to pay the Rs 5,000 fee and also to give those enough time who are still having troubles with GST.