Description
The government on Monday extended the due date for filing of income tax return (ITR) and audit report to October 31, 2018 for certain categories of taxpayers. It is the second extension granted by the Central Board of Direct Taxes to assessees whose books of accounts have to be audited. The move came after the taxman considered representations from stakeholders, it said in its statement. The taxman had last month announced extension of the then due date of September 30 by a similar 15 days, to October 15, 2018.
However, assessees filing their return of income "within the extended due date shall be liable for levy of interest as per provisions of section 234A of the Income-tax Act, 1961", the Central Board of Direct Taxes said in its statement on Monday. That means the liability to pay interest on account of late filing of the income tax return will remain in place.
Contact ADCA for all the income tax advisory and filing services in bangalore.
