The Income Tax Department has extended the ITR filing deadline for certain taxpayers, giving relief to many business owners and professionals.
However, this extension does not apply to everyone. Salaried employees must still follow the original deadline.
Who Can File ITR Till August 31?
The Central Board of Direct Taxes (CBDT) has extended the due date for taxpayers whose accounts do not require an audit.
This includes:
Small traders
Business owners
Doctors
Lawyers
Freelancers filing ITR-3 or ITR-4 (Sugam)
Some religious and charitable trusts
These taxpayers can now file their income tax returns until August 31.
No Relief for Salaried Employees
There is no extension for salaried taxpayers.
Those filing ITR-1 (Sahaj) or ITR-2 had to submit their returns by July 31. If they miss the deadline, they will have to file a belated return and may have to pay late fees and interest from August 1.
Why Did CBDT Extend the Deadline?
According to the CBDT, businesses and trusts needed extra time to reconcile their financial records and complete paperwork.
Professional bodies and trade associations had also requested more time. The extension is expected to reduce last-minute rush and technical issues on the e-filing portal.
Penalty for Missing the Due Date
Tax experts say that filing the return after the applicable deadline can lead to:
Late fee of ₹1,000 to ₹5,000 under Section 234F
Interest on pending tax dues
Loss of the benefit of carrying forward certain losses
To avoid penalties, taxpayers should file their returns within the deadline applicable to their category.
Other Taxpayers Must Follow the Original Deadline
The extension does not apply to all taxpayers.
Those filing ITR-1, ITR-2, and non-business, non-audit taxpayers using ITR-5 or ITR-7 must complete their filing by the original due date.
The Income Tax Department has advised taxpayers to use the e-filing portal, select the correct assessment year and ITR form, verify all details carefully,
and complete e-verification after submission. Since many people file at the last moment, the portal may experience heavy traffic, so filing early is recommended.
