Due Date For I-T Returns & Audit Reports Extended To 15th Oct

Due Date For I-T Returns & Audit Reports Extended To 15th Oct

The due date for filing of income-tax returns and various reports of audit has been extended. In a notification issued on Monday, the Central Board of Direct Taxes has notified the deadline as 15th October. Previously, the due date was the 30th of September.

The notification issued pertains to benefit covered under Section 139(1), Explanation 2, clause (a) of the Income-tax Act. No extension would, however, be granted for the purposes of Section 234A of the Act.

The notification reads as follows:

On due consideration of representations from various stakeholders for extending the due date, being 30th September, 2018, for filing of income-tax returns and various reports of audit pertaining to assessment-year 2018-19 for assessees'covered under clause (a) of Explanation 2 to section 139(1) of the Income-tax Act, 1961 (Act) read with relevant provisions of the Act & Income-tax Rules, the CBDT, hereby extends the due date for filing of income-tax returns as well as all reports of audit (which were required to be filed by the said specified date), from 30thSeptember, 2018 to 15thOctober, 2018. However, there shall be no extension of the due date for purpose of Explanation 1 to section 234A (Interest for defaults in furnishing return) of the Act and the assessee shall remain liable for payment of interest as per provisions of sec ion 234A of the Act.