Last date Changed for filing Income Tax returns for FY 2016-17
The Income Tax Department on Monday extended the last date to file Income Tax Returns (ITR) to August 5, owing to difficulties faced by those filing their returns online. The earlier deadline was July 31. “In view of the difficulties faced by taxpayers, date for filing of Income Tax Returns for FY 2016-17 has been extended to 5th August, 2017,” the I-T department said in a statement issued.Read more ↓
The filing of returns, especially if one has made cash transactions of Rs 2 lakh or more post demonetisation, from November 9 to December 30, 2016, has now become more stringent than ever. It has been made mandatory to report such transactions for financial year (FY) 2016-17. Linking of Aadhaar number with Permanent Account Number (PAN) has also been made compulsory for taxpayers that have an Aadhaar card.
According to an earlier release issued by the Income Tax Department, an amount of Rs 58,783 crore has already been received as advance tax up to June 30 reflecting a growth of 11.9 per cent over the advance tax payments of the corresponding period of last year. Meanwhile, the growth under Personal Income Tax (PIT) including Securities Transaction Tax (STT) was 12.9 per cent. The department also conveyed that it had received over 2 crore returns filed electronically.
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