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Due date extension ?

CA. Apoorva Katakwar (Chartered Accountant) (137 Points)

25 September 2018

1. Shouldn't there be a notification for extending due date? I have only come accross tweets by incometaxindia declaring that due date has been extended till Oct. 15th, 2018.

2. It further states that liability to pay interest u/s234A of ITAct will remain. Is this even legally valid or enforceable? S. 234A can be invoked only where the return has not been filed within due date or has not been filed at all.

Thank you.

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5 Replies

Darshan Singh (11 Points)
Replied 25 September 2018

There is notification passed by CBDT.
Section 234A interest is charged on unpaid tax only or tax payable reduced by Adv tax and TDS or any relief on the assessed tax on the regulat assessment or u/s 143(1).

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CA Naveen Chand (Chartered Accountant) (12729 Points)
Replied 25 September 2018

CBDT has extended the due date for filing Income Tax Returns and audit reports from 30th September 2018 to 15th October 2018. However, there shall be no extension of the due date for purpose of Explanation 1 to section 234A (Interest for defaults in furnishing return) of the Act and the assessee shall remain liable for payment of interest as per provisions of section 234A of the Act. For details [Refer here ].

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RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 25 September 2018

Originally posted by : CA. Apoorva Katakwar

1. Shouldn't there be a notification for extending due date? I have only come accross tweets by incometaxindia declaring that due date has been extended till Oct. 15th, 2018.

- Please refer the following order by CBDT https://www.incometaxindiaefiling.gov.in/eFiling/Portal/StaticPDF_News/Order_MiscComm_24_9_2018.pdf

2. It further states that liability to pay interest u/s234A of ITAct will remain. Is this even legally valid or enforceable? S. 234A can be invoked only where the return has not been filed within due date or has not been filed at all.

- It's Date extended but, The Interest is levied for Tax Liabilities

Thank you.