Income tax due date extended for tax audit till 31st oct 2017

//Income tax due date extended for tax audit till 31st oct 2017

Income tax due date extended for tax audit till 31st oct 2017

Government of India has extended the due date of filing return of income tax return of corporate assessee’s from 30th Sep 2017 to 31st October 2017.

Earlier the due date/deadline/last date to file income tax return for assesses whose accounts are required to be audited for financial year 2016-17 (Assessment year 2017-18) was 30th September,2017. It has been extended by one Month. The new due date for filing income-tax returns for the financial year 2016-17 (Assessment year 2017-18) is 31st October, 2017.

Tax payers who were supposed to file their income tax returns by September 30 now have some more time on their hands. The government has extended the deadline to file income tax returns for such tax payers until October 31.

“The ‘due-date’ for filing Income Tax Returns and various reports of audit prescribed under the Income-tax Act,1961 has been extended from 30th September, 2017 to 31st October, 2017 for all taxpayers who were liable to file their Income Tax Returns by 30th September, 2017,” Ministry of Finance said.

This time tax payer will have to quote their 12-digit Aadhaar number or the 28-digit Aadhaar enrolment number while filing the income tax return.

You will have to keep the Form 16, which you got from their employer handy. If you don’t have it, get it asap. Download the Form 26AS from the Income Tax e-filing website. Form 26AS is a consolidated tax statement which states tax credit statement of all taxes received by the Income Tax Department against your PAN number. You will need it to tally with your Form 16.

Availability of the detail of bank accounts in which the refund is to be credited is a precondition for direct credit of refund in bank accounts. Refund generated on processing of return of income is currently credited directly to the bank accounts of the tax-payers. Non-residents, who are claiming refund but do not have bank accounts in India may furnish details of one foreign accounts in ITR for issuance of refund.

2017-08-31T23:41:06+05:30GST Knowledge|