News Details- (Get Professional Updates on Whatsapp, Msg on
8285393786) More
News
Will income tax department extend July 31 deadline for ITR filing?
Pressure is mounting on the income tax department to grant extra time to people for filing income tax returns on account of changes brought in the format of tax returns as well as in the tax deducted at source (TDS) certificates issued by employers and the TDS returns to be filed by employers with the tax department.
For filing returns for assessment year 2019-20 relating to income earned in the financial year 2018-19, the last date is 31 July. The tax department usually allows an extension for a few days if the public faces any difficulty in meeting the deadline and a longer extension for assessees in states in case there are exceptional events like a natural calamity. Taxpayers as well as employers have to pay special attention this year on account of the changes in the forms.
A survey of over 10,000 citizens conducted by community social media platform Local Circles released on Friday showed that the deadline of 31 July
for filing income tax returns is causing some discomfort. It showed that 39% of over 7,800 people who chose to answer a question on Form 16 said they have not yet received it from their employer. The survey was conducted across 146 locations in the country. It also showed that 49% of the over 8,000 people who chose to answer a query on how they were placed for filing returns before the last date, either said it was almost impossible or it would be an effort filing before the deadline. About 28% said it was almost impossible. Sachin Taparia, founder, chairman and chief executive officer of Local Circles, said the narrow time gap between receiving Form 16 from employers and the tax return filing deadline had been repeatedly shared by citizens in discussions in the community. #casansaar (Source - LiveMint)
For filing returns for assessment year 2019-20 relating to income earned in the financial year 2018-19, the last date is 31 July. The tax department usually allows an extension for a few days if the public faces any difficulty in meeting the deadline and a longer extension for assessees in states in case there are exceptional events like a natural calamity. Taxpayers as well as employers have to pay special attention this year on account of the changes in the forms.
A survey of over 10,000 citizens conducted by community social media platform Local Circles released on Friday showed that the deadline of 31 July
for filing income tax returns is causing some discomfort. It showed that 39% of over 7,800 people who chose to answer a question on Form 16 said they have not yet received it from their employer. The survey was conducted across 146 locations in the country. It also showed that 49% of the over 8,000 people who chose to answer a query on how they were placed for filing returns before the last date, either said it was almost impossible or it would be an effort filing before the deadline. About 28% said it was almost impossible. Sachin Taparia, founder, chairman and chief executive officer of Local Circles, said the narrow time gap between receiving Form 16 from employers and the tax return filing deadline had been repeatedly shared by citizens in discussions in the community. #casansaar (Source - LiveMint)
Category : Income Tax | Comments : 0 | Hits : 2006
Get Free Daily Updates Via e-Mail on Income Tax, Service tax, Excise and Corporate law
Search News
News By Categories More Categories
- Income Tax Dept serves notices to salaried individuals for documentary proof to claim exemptions
- Bank Branch Audit 2021 - Update on allotment of Branches
- Bank Branch Audit 2020 Updates
- Bank Branch Audit 2021 Updates
- Bank Branch Audit 2020 - Update on Allotment of Branches
- Police Atrocities towards CA in Faridabad - Its Time to be Unite
- Bank Branch Statutory Audit Updates 2019
- Bank Branch Statutory Audit Updates
- Bank Branch Audit 2022 Updates
- Bank Branch Statutory Audit Updates
- NFRA Imposes Monetary penalty of Rs 1 Crore on M/s Dhiraj & Dheeraj
- ICAI notifies earlier announced CA exam dates despite pending legal challenge before SC
- NFRA debars Auditors, imposes Rs 50 lakh penalties for lapses in Brightcom, CMIL cases
- GST Important Update - Enhancement in the GST Portal
- NFRA Slaps Rs 5 lakh Penalty on Audit Firm for lapses in Vikas WSP Audit Case
- CBDT extends due date for filing Form 10A/10AB upto 30th June, 2024
- RBI comes out with FEMA regulations for direct listing on international exchange
- RBI directs payment firms to track high-value, fishy transactions during elections
- NCLT orders insolvency proceedings against Subhash Chandra
- Income Tax dept starts drive to dispose of appeals, 0.54 million at last count
- Payment of MCA fees –electronic mode-regarding
- Budget '11-12' Parliament Completes Approval Exercise
- Satyam restrained from operating its accounts
- ICICI a foreign firm, subject to FDI norms: Govt
- Maha expects Rs 15 crore entertainment tax revenue from IPL
- CAG blames PMO for not acting against Kalmadi
- No service tax on visa facilitators: CBEC
- Provision of 15-minutes reading and planning time allowance to the candidates of Chartered Accountants Examinations
- Companies Bill to be taken up in Monsoon Session
- File Service Tax Return in time as Maximum Penalty increased 10 times to Rs. 20000

Comments