Home Business 5 reasons why ITR filing date may get extended

5 reasons why ITR filing date may get extended

526

Income tax return filing last date: The last date for filing income tax return (ITR) for the assessment year 2019-20 with no penalty or a fine is July 31, 2019. However, the due date for ITR filing may get an extension for the taxpayers to file the returns of income well beyond the last date even without bearing any fine. The ITR filing last date had been extended several times in the previous years for different reasons. However, this time till now, the reasons appear to be related more with the modifications made to the various Forms used during the ITR filing process.

On June 4, 2019, Central Board of Direct Taxes (CBDT) had issued a notification extending the deadline for the employers to issue Form 16 to employees from June 15 to July 10. It has been observed that several employees had still not received Form 16 even after the due date. With only a few days left, if Form 16 is received at a later date, the time to file ITR will understandably be less. “Salaried taxpayers now have a shorter window to file their tax returns due to the extension of the due date of providing Form 16 for employers. In the wake of this extension, the due date for tax filing may be extended so salaried taxpayers can plan to file their tax returns in time,” says Archit Gupta, Founder & CEO ClearTax.Read More..