Taxation
Government extends date for filing IT returns to October 17
The government has extended the date for filing of income tax returns by tax payers whose accounts are required to be audited under the Income Tax Act from September 30 to October 17, 2016, an official statement said here on Monday.
 
"Taking into consideration that the last date for making declarations under the Income Declaration Scheme 2016 is also September 30, 2016, the Central Board of Direct Taxes (CBDT) has decided to extend the last date for such returns which were due on September, 30, 2016 to October 17, 2016 in order to remove inconvenience and to facilitate ease of compliance," a statement from the Finance Ministry said.
 
The tax payers whose business receipts exceed Rs 1 crore or professional receipts exceed Rs 25 lakh during the previous year 2015-16 are required to file an income tax return accompanied by an audit report by October 17, 2016.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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COMMENTS

SRINIVAS SHENOY

3 months ago

What do you think?... Write your comments. Refunds and assessment of salaried individuals, which earlier took years are now settled within a month.

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