Government extends ITR filing deadline till 5 August
DSIJ Intelligence / 31 Jul 2017
On Monday, the income tax (I-T) department stated that the deadline for filing income tax returns (ITRs) for financial year 2016-17 has been extended till 5 August.
On Monday, the income tax (I-T) department stated that the deadline for filing income tax returns (ITRs) for financial year 2016-17 has been extended till 5 August.
The government was not in a mood to extend the deadline, according to earlier reports.
ITR is a statement of income earned by a person in a financial year. Individuals (other than company and firm) whose total income exceeds the specified threshold limit in a financial year are required to file income tax return for that financial year.
From the 1st of July, the linking of Aadhaar number with the PAN (Permanent Account Number) of a taxpayer has also been made mandatory for filing of an ITR, beginning 1 July.
Besides filing ITR, the department has also asked taxpayers, to declare cash deposits made post demonetisation, i.e. between 9 November-30 December last year in bank accounts aggregating to Rs 2 lakh or more.
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