Income Tax Return, Final Date Filing: Today, for a month, big relief for some taxpayers, time limit was increased

Income Tax Returns (ITR) recorded the last date: In a surprise move, Prime Minister Narendra Modi-led government paid a tax up to one month till March 31, 2018 due to filing income tax returns for certain taxpayers for the year 2018-19 The date has been extended. Earlier, Zee Business had said that the deadline for filing income tax returns can be increased by 2 weeks. According to CBDT sources, the final tax filing returns, which is currently on 31 July, will be extended to 10-15 days. Expansion of the tax filing date has now been officially confirmed, however, now the extension is for the whole month instead of 10-15 days. 

Referring to the sources, Zee Business said that some technical mistakes were taken into consideration and this may also be the reason for the extension of the last date. According to officials, the number of income tax return filers has increased. 

In a statement this evening, the Finance Ministry said that new income tax return forms were notified at the beginning of April and taxpayers (whose accounts are not responsible for audit) were permitted to e-file their ITR by July 31. It said, "Considering this matter, Central Board of Direct Taxes (CBDT) raises the 'due date' for filing income tax returns from July 31, 2018 to 31 August, 2018, regarding the mentioned categories of taxpayers. 

Filing of returns is mandatory by law and it is an important proof of your tax compliance. While the ITR return form is low, while e-fileing the ITR, you will need documents such as PAN, Aadhaar card, proof of investment, TDS certificate, etc. Keep your 'other income' documents as easy as capital gains, rental income, dividend income, etc. Documents should also be organized for foreign income or assets.