The Central Board of Direct Taxes (CBDT) has extended the deadline for filing Income Tax Return (ITR) for Financial Year 2018-19 by taxpayers to August 31, 2019, from July 31, 2019. The extension turns out to be a much-needed relief for the citizens as there were multiple problems being faced by individuals in filing returns by July 31. Earlier, July 31 was the deadline to file income tax returns for most individuals and HUFs.
The ITR-1 form has been simplified this year, making it easier for employees to e-file returns. The extension comes as a result of many chartered accountant/tax practitioner society appeals to the government to extend the ITR filing deadline to provide sufficient time to individuals to file ITR properly.
With the extension of the deadline, taxpayers will have sufficient time to file their ITRs without worrying about late filing fees.
Even though the authority makes it easier to fill salary details in ITR-1 this year as individuals are required to only copy-paste the same from Form 16, sources of interest income are required to be provided in greater detail. This may result in a tedious process for taxpayers.
