Audit Companion

Due date for filing Income Tax Returns for A Y 2016-17 / 2015-16

It a relief to the Last limit Rushers, they got some time for filing the IT returns with in extended time.

The Department of Revenue, Ministry of finance of Government of India - Has extended the Date of IT filing to 5th August, 2016. (Actual Due Date is 31st July, 2016 - as per Act, In general )

Reason for Extension of due date as given by the Concerned department is - due to Bank strike on 29th July, 2016 (Friday) and the 31st July, 2016, being a Bank Holiday, In order to avoid any inconvenience to the taxpayers while making payment of taxes pertaining to returns of Income for assessment Year - 2016-17.

For the state of Jammu and Kashmir the due has been extended to 31st August, 2016 ( Actual is 31st July, 2016) - the reason is Due to Ongoing Turmoil in the state.

Section That deals with Due date is - section 139(1)

Due date :
In the above mentioned case the persons who are not subject to audit are required to file with 31st July of the assessment year.

If Person is liable for audit ( as per IT act or Other Act) is required to furnish the Return with in 30th sept, of Assessment Year.

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