CBDT extends due date of filing ITR from 31st July 2019 to 31st August 2019

The CBDT has extended the due date for filing of Individual Tax Returns for taxpayers eligible to file their ITR on or before 31st July 2019. The due date has now been extended to 31stAugust.

This extension was necessary since previously the CBDT had extended the due date of filing TDS statement in Form 24Q from 31st May 2019 to 30th June 2019, thus postponing the issue of Form 16 by employers to 10th July 2019. In this case, the salaried taxpayers would be left with only 21 days to file their tax returns.

Also, the capital gain calculations have become tedious this time since, the introduction of the grandfathering clause in the Budget 2018. Also, last week, a individuals were required to report ISIN Number for equity shares/equity oriented MF’s thus making the tax filing procedure even more cumbersome.

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