The Central Board of Direct Taxes (CBDT) has extended the deadline for filing of Income Tax Return (ITR) for financial year 2018-19 (FY19) by individuals from July 31, 2019 to August 31, 2019. With extension of the deadline, individuals will have more time to file their ITRs without worrying about late filing fees.
Individuals, including salaried taxpayers, and entities - who do not need to get their accounts audited for tax purposes- were required to file their income tax returns for fiscal 2018-19 (Assessment Year 2019-20) by July 31, 2019. There have been demands for an extension in filing ITR date since issuance of tax deducted at source (TDS) statement for 2018-19 fiscal was delayed.
In the month of June, the Income Tax department had extended the deadline for employers to issue Form 16 TDS certificate for financial year 2018-19 to its employees by 25 days till July 10. However, the extension would leave the salaried taxpayers with a limited time-frame of just 20 days to file their income tax returns.