Business India

Income Tax: ITR Deadline extended till 5th August

Income Tax: ITR Deadline extended till 5th August
Written by Ashish Sharma

Big Relief for tax payers as CBDT has extended the deadline for filing Income Tax Returns from 31st July 2017 to 5th August 2017.The unexpected decision was taken yesterday giving the reason that the difficulties faced by taxpayers, the date for filing of Income Tax Returns for FY 2016-17 have been extended to 5th August 2017.The department, until yesterday, was firm with no revision of ITR deadline.The Income Tax Department has already received over two crore returns filed electronically and expecting more returns in the coming week.

Earlier the department had issued advertisements in most leading national dailies in the last few days stating that taxpayers should disclose their income “correctly” and file their ITRs on or before July 31. Every person whose gross total income exceeds the taxable limit must file an income tax return.As per the official twitter, handle the date for linking Aadhaar number with the PAN (Permanent Account Number) of taxpayers has also been made mandatory for the filing of ITR, beginning July 1 can be done till August 31 and the return will be processed after the linking.

This year there were multiple changes which cause problems in filling income tax return  These include: Linking PAN with Aadhaar, compulsory declaring of Aadhaar in tax returns, receiving TDS certificates late (as compared to earlier years) from employers and other deductors and Busy schedules of the Chartered accountant with GST. Further, the way income tax department’s efiling website behaved running erratically sometimes and also seen several hours of outage for maintenance over the last fortnight.

About the author

Ashish Sharma

Ashish is a techie who is a finance and stocks hobbyist. He loves to contribute and create awareness by writing on business and finance