New Delhi, July 26: In its latest announcement, the Ministry of Finance has extended the due date for filing the income tax return (ITR) from July 31 to August 31, 2018. The date has been extended for certain categories only. The ministry gave this information through its Twitter handle. However, it has not specified the categories for which the extension has been given.
Generally, taxpayers have to file ITRs by July 31 of every year. The income tax department has been constantly reminding taxpayers about the last date of filing the returns through emails and messages. ITR can be filed online through the taxman's portal, incometaxindiaefiling.gov.in.
No tax will be levied for individuals with income less than Rs 2,50,000. Those earning between Rs 2.5 lacs to 5 lacs will have to pay 0%-5% tax for different age groups while 20% tax will be applicable for individuals having an income of Rs 5 lacs to 10 lacs.
With the decision to extend the due date, taxpayers are left confused. The ministry has received tweets from netizens seeking clarification about the categories for which the date has been extended. But, as of now, no announcement has been made in this regard.
(The above story first appeared on LatestLY on Jul 26, 2018 06:53 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).