india

Updated: Jun 23, 2020 21:30 IST

The Income Tax Department on Friday said that the August 31 deadline for filing returns had not been extended and warned taxpayers against falling for fake news

“An order is being circulated on social media pertaining to extension of due date for filing of IT Returns. It is categorically stated that the said order is not genuine. Taxpayers are advised to file Returns within extended due date of 31 August, 2019.”

Last month, the income tax department had extended the deadline for filing income tax return to August 31. According to a fake document being circulated online, the deadline has been extended to September 30.

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According to Income Tax rules, if one misses the deadline for filing returns, one can still file it any time during the current assessment year 2019-20, but with a fine.

If you file your return after the due date but before December 31 of the assessment year, you will have to pay a penalty of Rs 5,000. If you file it between January 1 and March 31 of the assessment year, the penalty goes up to Rs 10,000.

However, the penalty is limited to Rs 1,000 for those who have an income below Rs 5 lakh. Failure to file returns may lead to prosecution.