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Tuesday, July 31, 2012

Income Tax Return- Deadline extended to 31st August 2012

Central Board of Direct Taxes (CBDT) has  extended the deadline for filing income tax returns for assessment  year 2012-13 to 31st August 2012. The Original Last Date was 31st July 2012.
CBDT said it was extending the deadline given the disturbance in routine life due to failure of power as well as the fact that e-filing has now been made mandatory for individuals and Hindu Undivided Family (HUF).
The North India power grid collapsed on Monday, July 30, affecting about 370 million people in seven states. On July 31, on the day of deadline for filing returns, the North, East, and North East grids collapsed, leaving at least 19 states and about 600 million people without electrical power.
“This has been done in respect of assesses who are liable to file such returns by 31st July 2012 as per provisions of section 139 of Income Tax Act, 1961,” CBDT said in a statement.
From this year if the total income of an individual or HUF is Rs 10 lakh in the year 2011-12, e-filing is mandatory as per Rule 12 of the Income-tax Rules, 1962.
Source: NDTV

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