Tax return deadline extended till 30 June for new taxpayers
The National Board of Revenue (NBR) has extended the deadline for filing tax returns for the first-time taxpayers by seven months till next June.
Tax identification number (TIN) holders, who are first time filers, will also get an extension of up to four months (till October) from the tax authority (deputy commissioner of taxes) if they make an application.
As per a recent clarification (Income Tax Paripatra) from the NBR, new taxpayers can file returns till 30 June next year, without giving any penalty.
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Normally, a TIN holder has to submit their tax returns every year. But many don't do so.
According to the NBR, of the 80 lakh TIN holders in the country, two-thirds are not filing their tax returns.
The government has made several changes to the Finance Bill in the last budget to bring errant TIN holders under the tax net.
Among those, TIN holders who did not submit their returns so far will have their penalties waived if they submit it this year.
The NBR circular released last week mentioned that the tax day for new taxpayers will be 30 June.
For those who filed returns earlier, the last day for filing returns is 30 November.
A senior officer of NBR's tax department told The Business Standard that tax officers can give another four months if returns are filed after 30 June, provided they apply showing a good reason.
