Income tax returns must be filed by the existing deadline of August 31, 2019, the taxman said

The Income Tax Department said on Friday that an order circulating on social media about an extension in the due date for assessees to file their income tax returns (ITR) was "not genuine". Income tax returns must be filed by the existing deadline of August 31, 2019, the Income Tax Department said on Twitter. "It has come to the notice of CBDT (Central Board of Direct Taxes) that an order is being circulated on social media pertaining to extension of due date for filing of I-T returns. It is categorically stated that the said order is not genuine," the tax department said. The Income Tax Department also attached a copy of the fake order being circulated on social media.

It has come to the notice of CBDT that an order is being circulated on social media pertaining to extension of due dt 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 dt of 31.08.2019 pic.twitter.com/m7bhrD8wMy — Income Tax India (@IncomeTaxIndia) August 30, 2019

The original due date of July 31 - for filing the income tax return against income earned in financial year 2018-19 (assessment year 2019-20) - was earlier extended to August 31 by the Income Tax Department.

Tax laws make it mandatory for individuals earning a specified amount of annual income to file an ITR within the pre-determined due date. Missing the last date attracts penalty charges.

The amount of penalty payable by the assessees for filing a belated return increases depending on the degree of delay.

A late filing fee of Rs 5,000 is payable for a belated return furnished by December 31, whereas one filed after December 31 but before March 31 attracts a fee of Rs 10,000. However, the amount of late filing fee cannot exceed Rs 1,000 if the assessee's total income does not exceed Rs 5 lakh, according to the Income Tax Department website.