Income Tax Due Date Extension

The Government of India has decided the extend the due date for

filing Income Tax return and Tax Audit Reports from 30th September 2019 to 31st of October, 2019 in respect of persons whose accounts are required to be audited. Hence, companies and LLPs and entities who are required to submit their tax return with the audit will now be having a one-month extension.

Announcement on Twitter

The news about the extension was first reported in the official Income Tax twitter handle and is reproduced below: https://twitter.com/IncomeTaxIndia/status/1177263026405134336

Non-Tax Audit Assesses

The Income Tax Department for AY2019-20 has not extended the income tax due date beyond 31st August 2019. There is however a fake notification circulating in social media claiming Income Tax Due Date Extension. The Income Tax Department has clarified that the notification is FAKE. The fake notification circulating on social media is reproduced below for reference.

Earlier Extension

Normally, the income tax return for non-tax audit assesses is due on the 31st of July. This assessment year (FY2018-19), the income tax due date was extended to 31st August as there were various changes to the Form 16 format.

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FAKE Income Tax Due Date Extension Notification

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Frequently Asked Questions

Common questions about Income Tax Due Date Extension.

The Government of India has extended the due date for filing Income Tax returns and Tax Audit Reports from 30th September 2019 to 31st October 2019 for persons whose accounts are required to be audited, such as companies, LLPs, and other entities that need to submit their tax returns with an audit report.

No, the extension is specifically for persons whose accounts are required to be audited, such as companies, LLPs, and other entities that need to submit their tax returns with an audit report. For non-tax audit assessees, the due date for filing Income Tax returns remains 31st August 2019.

The news about the extension was first reported on the official Income Tax Department's Twitter handle, @IncomeTaxIndia.

Yes, there is a fake notification circulating on social media claiming an income tax due-date extension for non-tax audit assessees. However, the Income Tax Department has clarified that this notification is fake and that the due date for non-tax audit assessees remains 31st August 2019.

The article does not provide a specific reason for the extension. However, it is likely that the extension was granted to allow more time for companies, LLPs, and other entities to complete their audits and file their tax returns accurately.

Yes, for the assessment year 2019-20 (financial year 2018-19), the Income Tax Department had extended the due date for non-tax audit assessees from 31st July to 31st August 2019, due to changes in the Form 16 format.

Taxpayers should always verify the authenticity of any income tax-related notifications by checking the official Income Tax Department website or their official social media channels, such as the Twitter handle mentioned in the article.

Tax Audit Reports are mandatory for certain categories of taxpayers, such as companies, LLPs, and individuals/entities with business or professional income exceeding a certain threshold. These reports provide an independent verification of the financial statements and tax compliance by a chartered accountant.

Failure to file Income Tax returns and Tax Audit Reports by the extended due date of 31st October 2019 could result in penalties and interest charges for the taxpayers concerned, as per the provisions of the Income Tax Act.

The article does not provide any additional information beyond the extension of the due date for tax audit assessees and the clarification about the fake notification for non-tax audit assessees. However, taxpayers should always stay updated with any further announcements or clarifications from the Income Tax Department regarding the due dates and associated compliance requirements.