Income Tax Return Due Date Extended For Assessees In Kerala

The Income Tax Department on Tuesday extended the due date for filing income tax return (ITR) by fifteen days for assessees in Kerala. The Central Board of Direct Taxes (CBDT), which is the apex policymaking body of the Income Tax Department, said the due date of September 15 will be applicable to taxpayers in the state, instead of August 31. The taxman cited "disruption caused due to severe floods in Kerala" as the reason behind the move.

The new deadline of September 15, the CBDT said in its statement, is applicable to taxpayers in Kerala who were "liable to file their Income Tax Returns by 31st August, 2018".

The heavy rains and subsequent floods have led to destruction of life and property in the state. Earlier, basic customs duty and Integrated Goods and Services Tax (IGST) were exempted for the goods imported or supplied for flood relief operations in Kerala.

For other assessees, August 31 stands the last date to file income tax return for assessment year 2018-19 without having to bear any charges. Filing the income tax return after the due date will attract a penalty up to Rs 10,000, depending on the degree of delay, according to the existing income tax laws.

The Income Tax Department had earlier extended the due date for filing of income tax returns from July 31, 2018 to August 31, 2018.

The government will on Wednesday hold a meeting with heads of banks and insurance firms to review relief and rehabilitation measures undertaken by them in the flood-hit state. The high level delegation to Kerala will be led by Minister of State for Finance Pon Radhakrishnan, an official statement said on Tuesday. 

(With agency inputs)