Due date extented for filing returns of income to 5th july,2013
Central board of direct tax has extended due date for filing returns of income from 31st July,2013 to 5th August, 2013. All assesses having a total income of more than Rs 5, 00,000 are compulsory required to file their return electronically.
There has been tremendous increase in number of e-returns till 31st July. It is assumed that extension of last date (due date) for filing return is meant to provide access to those who were not able to file their return due to web portal’s heavy traffic during the last days. It would be a great relief to those who has not filed the return. Further, it will reduce the compliance issues regarding penalty and interest for late filing. Due date is extended in exercise of power conferred under section 119 of the income tax act, 1961