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Income Tax Returns filing deadline extended to August 31 for AY 2019-20


If you are searching for Income Tax ITR Filing Date Extended or not, the answer is yes, the ITR Filing Date is Extended for AY 2019 20. The government on Tuesday i.e July 23 extended the due date for filing income tax returns by individuals for financial year 2018-19 by a month till August 31. Individuals, including salaried taxpayers, and entities - who do not need to get their accounts audited - needed to file their income tax returns for FY 2018-19 (Assessment Year 2019-20) by July 31, 2019.


The finance ministry said, "The Central Board of Direct Taxes (CBDT) extends the 'due date' for filing of Income Tax Returns from July 31, 2019, to August 31, 2019, in respect of individuals and entities taxpayers". As the TDS statement for FY 2018-19 was delayed, some people were hopeful for an extension of date in ITR filing.

Earlier, the Income Tax department extended the deadline for employers to issue Form 16 TDS certificate for FY 2018-19 to its employees till July 10. And they had just 20 days to file ITR. Till Rs. 5 lakh, there is no tax, but you need to file income tax return if you have spent Rs 2 lakh on a foreign trip or you pay electricity bills of Rs 1 crore annually.

If you miss the last date to file I-T return, you can pay any time till March 31, 2020 but it also means you need to pay a heavy fine. If you file an ITR or income tax return after the due date, you are liable to pay a penalty. An income tax return filed after the due date attracts a "late filing fee" under Section 234F of the Income Tax Act. Filing a belated income tax return attracts a penalty up to Rs. 10,000. A fee of Rs. 5,000 is payable by the assessee for filing an income tax return after the due date (August 31) but before December 31 of the assessment year as per Income Tax Department's website - incometaxindia.gov.in.  An income tax return for assessment year 2019-20 (financial year 2018-19) filed between August 31 and December 31 will fetch you a penalty of Rs. 5,000. An income tax return filed after December 31, 2019 but before March 31, 2020, you need to pay a late fee of Rs. 10,000. As per the income tax rules, if your income does not exceed Rs. 5 lakh, the late filing fees cannot be more than Rs. 1000.

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