NEW DELHI: For those who have not yet filed their income tax returns, today (August 31) is the last day to do so failing which the taxpayers may attract a fine of up to Rs 10,000.
As the deadline to file ITR comes to an end, taxpayers are advised to rush in to file complete the return filing process. This year, taxpayers are required to submit the returns for the 2017-18 financial year and the assessment year would be 2018-19.
Filing ITR can be done both online and offline. Not filing ITR or late filing can attract penalty up to Rs 10,000.
Taxpayers must keep all the required details like PAN, Form 16 and other important documents in hand while filing returns.
In a big relief to millions of taxpayers, the government had earlier extended the last day for filing of Income Tax Returns (ITR) from July 31 to August 31.
Also, in view of the natural crisis in Kerala, the Central Board of Direct Taxes (CBDT) had extended the date for filing of income tax returns for taxpayers in Kerala.
The CBDT extended the due date for furnishing income tax returns from August 31 to September 15, 2018, for all pending assessees in Kerala.
In a tweet, the Income Tax department said, “Due to the disruption caused by severe floods in Kerala, CBDT hereby further extends the due date for furnishing income tax Returns from 31st August, 2018 to 15th September 2018 for all income tax assessees in the state of Kerala."
CBDT had earlier said that non-filing of ITR before the due date from this assessment year would lead to a penalty of Rs 1,000, 5,000 and Rs 10,000, depending on when the returns were filed after the deadline.
The fine for taxpayers having income under Rs 5 lakh remained at Rs 1,000.
The Income Tax Department had also issued advertisement guiding taxpayers over their ITR filing on multiple occasion.
The department opened an e-filing window for income tax return (ITR) for the assessment year 2018-19 on its website for salaried employees.
On its official website, the IT department had asked the taxpayers to file the tax return before the due date and avoid paying late fee up to Rs 5000.