Govt extends due date for filing of Income Tax Returns from Sept 30 to Oct 17, 2016

New Delhi, Sep 12 (KNN) Taking into consideration that the last date for making declarations under the Income Declaration Scheme 2016 is 30th September, the government has extended the last date for filing of Income Tax Returns from 30th September, 2016 to 17th October, 2016.

The due date for filing of Income tax returns by tax payers whose accounts are required to be audited under the Income Tax Act is the 30th September of the following year, the Ministry of Finance said in a statement.

The tax payers whose business receipts exceed Rupees one Crore or professional receipts exceed Rupees twenty-five Lakh during the previous year 2015-16 are required to file an Income Tax return accompanied by an audit report by the above mentioned due date.

However, taking into consideration that the last date for making declarations under the Income Declaration Scheme 2016 is also 30th September, 2016, the Central Board of Direct Taxes (CBDT) has decided to extend the last date for such returns which were due on 30th September, 2016 to 17th October, 2016 in order to remove inconvenience and to facilitate ease of compliance, the statement added.