Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
News18 » India
1-min read

Last Date for Filing Income-tax Returns is July 31, But Not for Everybody

The deadline for filing ITRs is different for different categories of taxpayers. Check important income-tax return filing due dates for FY 2018-19 (AY 2019-20) before hitting the panic button.

Trending Desk

Updated:July 17, 2019, 10:58 AM IST
facebookTwitterskypewhatsapp
Last Date for Filing Income-tax Returns is July 31, But Not for Everybody
Representative image
Loading...

The date July 31 always rings a bell in a taxpayer’s mind. It’s around this time of the year when individuals are seen rushing to file income tax returns (ITRs) at the last minute. The last week of July, especially, brings along mayhem as people are seen compiling endless documents, struggling to find suitable forms and looking fanatically for chartered accountants for help.

But most of us don’t know that not every taxpayer in India has to file return by July 31. In fact, the deadline for filing ITRs is different for different categories of taxpayers. So, check important income-tax return filing due dates for FY 2018-19 (AY 2019-20) before hitting the panic button:

- For individuals, HUF (Hindu Undivided Family), BoI (Body of individuals), AoP (Association of Persons) whose books of account are not required, the due date is July 31, 2019.

- For businesses whose books of account are not required to be audited, the due date is July 31, 2019.

- For businesses whose books of account require an audit, the due date is September 30, 2019.

- For assesses who are required to furnish report under section 92E, the due date is November 30, 2019. The Section 92E of the Income Tax Act, 1961, requires a report to be issued by a chartered accountant (CA) wherever there are cross-border transactions between two associated enterprises.

However, it is important to remember that the dates presented above are just due dates, but returns can be filed even after these dates with interest. The actual last date to file ITR is one year from the end of relevant assessment year. For instance, the due date of income tax return for FY 2018-19 might be July 31, 2019, but this return can be filed until 31 March 2020. It is because one year for the AY 2019-20 gets over on March 31, 2020.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Subscribe to Moneycontrol Pro and gain access to curated markets data, trading recommendations, equity analysis, investment ideas, insights from market gurus and much more. Get Moneycontrol PRO for 1 year at price of 3 months. Use code FREEDOM.

Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp

Live TV

Loading...
Countdown To Elections Results
To Assembly Elections 2018 Results