Last date for filing return extended to feb 29
Last updated: 17 December 2007
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The government is extending the due date of filing of income tax return to February 29, 2008. The centre on Friday informed the Supreme Court that the due date for of filing of income-tax return was being extended in view of the confusion regarding filing of returns on prescribed new forms ITR-1 to ITR-8 or old Saral 2D forms.The due date is being extended for all categories of assessees in the country who were allowed to file returns in form no 2D (Saral ) and also for other assessees who may have filed returns in the old forms on or after May 14, 2007, it said.The draft order, prepared by the ministry of finance, was submitted by the additional solicitor general Mohan Parasaran to a bench headed by Justice B N Agrawal. It is proposed to be issued by Saturday, said government.The draft order says: “with a view to enable such assesses to file returns in the specified forms prescribed for the assessment year 2007-08 , the Central Board of Direct Taxes in exercise of powers conferred under section 119 of the Income-Tax Act, 1961, hereby extends the due date for filling of income for all categories of assesses to February 29, 2008, if the assessee has filed the return on or after May 14, 2007, or filed the rerturn in a form other than one of the forms notified for assessment year 2007-08.The government’s decision comes in backdrop of the confusion following a CBDT notification. The Board through a notification issued on May 14 for the assessment year 2007-08 substituted the old return forms by eight new returns under a series of ITR-1 to ITR-8 .As a naturally corollary, the returns were required to be filed on the prescribed forms for the current assessment year.However, in pursuance of the interim orders of of Allahabad high court (Lucknow Bench), Rajasthan high court (Jodhpur Bench) and Guwahati high court, the assessee were allowed to exercise the option of filling of returns in form No 2D (Saral) or any other old forms also.Apart from UP, Rajasthan and Assam, in some states also, the assessee may have filed returns in Saral 2D or any other old forms as well under the mistaken impression that they were permitted to do so.
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Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.
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