ITR filing: Last date to file returns gets extended due to Kerala floods

To taxpayers’ relief, the Central Board of Direct Taxes (CBDT) on Tuesday has extended the last date of filing income tax returns (ITR) till September 15. Earlier, the deadline for filing ITR was August 31. “Due to disruption caused by severe floods in Kerala, CBDT hereby further extends the due date for furnishing Income Tax Returns from 31 August 2018 to 15 September 2018 for all Income Tax assessees in the State of Kerala,” the tax department said.

Kerala witnessed the worst flood situation in a century. Over 3.26 lakh people are still in relief camps across Kerala even after a fortnight of the devastating deluge that left a trail of destruction claiming 322 lives and rendering thousands homeless. With rehabilitation measures on, the government said an immediate relief of Rs 10,000 would be disbursed soon to the flood-affected.

Earlier, the department had extended the deadline from July 31 to August 31.

“The last date for submission of income tax has been extended from 31st July to 31st August 2018, I request every taxpayer to submit their income tax by the due date, fulfil their duty as a law-abiding citizen and contribute in the nation building,” Piyush Goyal had informed via tweet.

If you have not filed the ITR yet, below we have listed out various income tax forms need to be filled according to your tax slab:

ITR – 1 also known as SAHAJ is applicable to an individual having salary or pension income or income from one house property (not a case of brought forward loss) or income from other sources (not being lottery winnings and income from race horses, income taxable under section 115BBDA or income reffered in section 115BBDA).

ITR – 2 is applicable to an individual or an Hindu Undivided Family who is not eligible to file Sahaj ITR-1 and whose income chargeable to income-tax under the head “Profits or gains of business or profession” is in the nature of interest, salary, bonus, commission or remuneration, by whatever name called, due to, or received by him from a partnership firm.

ITR – 3 is applicable to an individual or a Hindu Undivided Family who is carrying on a proprietory business or profession.

ITR – 4 also known as SUGAM is applicable to individuals or Hindu Undivided Family or partnership firm (other than limited liability partnership firm) who have opted for the presumptive taxation scheme of section 44AD/ 44ADA/44AE.

ITR – 5: This Form can be used by a person being a firm, LLP, AOP, BOI, artificial juridical person referred to in section 2(31)(vii), co-operative society and local authority. However, a person who is required to file the return of income under section 139(4A) or 139(4B) or 139(4C) or 139(4D) or section 139(4E) or section 139(4F) shall not use this form (i.e., trusts, political parties, institutions, colleges, investment fund etc.)

ITR – 6 is applicable to a company, other than a company claiming exemption under section 11 (exemption under section 11 can be claimed by charitable/religious trust).

ITR – 7 is applicable to a persons including companies who are required to furnish return under section 139(4A) or 139(4B) or 139(4C) or 139(4D) or section 139(4E) or section 139(4F) (i.e., trusts, political parties, institutions, colleges, investment fund, etc.).ITR – V It is the acknowledgement of filing the return of income.