Income Tax Filing Due Date Extended - A.Y. 2018-19

The Income Tax Department has announced an extension for the income tax return filing deadline for tax audit cases to the 31st of October, 2018. This decision was communicated through Twitter:

Income Tax Department's Announcement

This extension provides a relief to taxpayers and streamlines the compliance process for professionals and industries.

Previous Extensions for A.Y. 2018-19

Extension to 15th October

On the 30th of September 2018, the government announced an extension of the income tax return filing deadline to 15th October 2018. This was publicized via Twitter:

Government Announcement on Twitter

This extension was crucial for taxpayers with companies, LLPs, or those requiring a Tax Audit to meet the initial deadline of 30th September 2018. It's important to note that filing after 15th October 2018 could incur a penalty of Rs.5000. You can learn more about how to file income tax return online in India by referring to our step-by-step guide.

Extension to 31st August

Earlier, the filing date was extended to 31st August 2018. The Ministry of Finance made this announcement known through:

Ministry's Announcement on Twitter

A press release by the Government stated that for certain taxpayer categories, the deadline moved from July 31st to August 31st, 2018. More details about who should file an income tax return in India are available on our guide.

The Institute of Chartered Accountants of India (ICAI) appealed for this extension due to challenges faced by assessees.

ICAI's Request for Extension

The ICAI cited several reasons for requesting an extension. They addressed their concerns in an official communication:

THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA
(Set up by an Act of Parliament)

ICAl/DTC/2018-19/Rep-23
23rd July, 2018

Dear Sir,

Re: Request to extend the due date of filing Income-tax returns for the AY 2018-19

The ICAI emphasized that delays in the release and updating of ITR filing utilities, compounded by inevitable procedural complications, made it essential for taxpayers to have additional time. For those managing small businesses, further details can be found in our resource on filing income tax for small businesses.

Challenges Cited by ICAI

Significant delays were noted in the availability and updates of ITR utilities, hampering timely submissions by taxpayers and software vendors alike. Learn more about the process for filing income tax returns in India in our comprehensive guide.

Delay in Updation of TDS Credit

Timing issues with TDS statements affected how credits appeared in taxpayer accounts, leading to further delays. The full implications on the return process are elaborated further in our article on filing income tax easily .

Pending Issues and GST Concerns

Taxpayers are challenged with unresolved issues, especially with GST integration, affecting the accuracy of financial data. If you need additional guidance, visit our detailed discussion on filing income tax returns.

Conclusion and Suggestions

Considering these challenges, an extension in the tax filing due date serves not just individual or business interests, but the nation's economic interests as well. The Tax Committee remains committed to advocating for such extensions in response to member and industry feedback.

For further assistance and a detailed guide, you can check our resource on easy e-filing of income tax returns.

Back to Learn

Frequently Asked Questions

Common questions about Income Tax Filing Due Date Extension A.Y. 2018-19.

The due date for filing income tax returns for tax audit cases for Assessment Year 2018-19 has been extended to 31st October 2018 by the Income Tax Department.

The government initially extended the due date for filing income tax returns from 30th September 2018 to 15th October 2018 to provide relief to taxpayers who have companies, LLPs, or require tax audits. This extension helped them file their returns and tax audit reports.

The due date for filing income tax returns for A.Y. 2018-19 was extended from 31st July 2018 to 31st August 2018 based on a request from the Institute of Chartered Accountants of India (ICAI). ICAI cited various legal, technical, and practical difficulties faced by assessees in filing returns within the earlier deadline.

Section 234F, introduced in the Finance Act 2017, imposes mandatory fees ranging from Rs. 1,000 to Rs. 10,000 for filing income tax returns after the due date prescribed under Section 139. This provision aims to encourage timely filing of returns but may discourage some assessees from filing late due to the additional cost involved.

Heavy monsoon rains and floods in several states of India disrupted telecommunication lines and internet connectivity, posing challenges for assessees in electronically filing their income tax returns within the prescribed deadlines.

The implementation of the GST law in its first year posed challenges in reconciling input tax credits from previous tax regimes, impacting financial statements and income/expenses reported in income tax returns. Additionally, the process of modifying filed GST returns could affect the profit and loss accounts, consequently impacting the income reported in ITRs.

The due dates for filing various GST returns, such as GSTR-1 and GSTR-3B, coincided with the income tax return filing period, leading to assessees and professionals being preoccupied with GST compliance, resulting in delays in filing income tax returns.

Delays in filing TDS statements and issuing TDS certificates (Form 16 and Form 16A) by deductors led to TDS credits not being reflected in Form 26AS on time. Assessees could not claim credits for amounts not depicted in Form 26AS, potentially resulting in tax demands or lower refunds, forcing them to delay filing their ITRs.

The delay in releasing ITR form utilities and subsequent updates to the schemas for various ITR forms required software vendors to update their bulk filing software. This process caused delays for assessees who used such software for filing their ITRs.

ICAI requested an extension of the due date for filing income tax returns, citing various legal, technical, and practical difficulties faced by assessees, such as delays in releasing ITR form utilities, TDS credit issues, impact of GST implementation, GSTR filing deadlines, and disruptions caused by natural calamities.