The Ministry of Finance on Thursday said that the Central Board of Direct Taxes has extended the deadline for filing of Income Tax Returns by a month to August 31, for certain categories of taxpayers.
“Upon consideration of the matter, the Central Board of Direct Taxes extends the due date for filing of Income Tax Returns from July 31 to August 31, in respect of the said categories of taxpayers,” the Finance Ministry tweeted.
The announcement follows requests from several groups to extend the deadline from July 31 after the government decided to impose a penalty on those who fail to filed their returns by the designated deadline. The Centre had announced that taxpayer who delayed filing their returns would have to shell out Rs 1,000, Rs 5,000 and Rs 10,000, depending on when they made their submission after the deadline.
Taxpayers earning annual incomes under Rs 5 lakh risk paying a Rs 1,000 fine if they fail to meet the deadline.