CURRENT AFFAIRS

2023

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
As per the recent announcement from the Ministry of Finance to support economy, what is the deadline of filing income-tax return for the year 2018-19?
A
April 30, 2020
B
May 31, 2020
C
June 30, 2020
D
August 31, 2020
Explanation: 

Detailed explanation-1: -Though there is an alternative in case you miss ITR filing by the due date, it is recommended to file returns by 31 July of the assessment year. For e.g., you should file your ITR by 31st July 2023 for the FY 2022-23.

Detailed explanation-2: -The last date to file Income Tax Return (ITR) for FY 2022-23 (AY 2023-24) without a late fee is 31st July 2023.

Detailed explanation-3: -Form 10B need to be submitted a month prior to the due date for furnishing the Return of Income in the online mode only. The due date for filing ITR-7 for Financial Year 2020-21 is 31st October 2021, and hence, the form 10B should be filed on or before 30th September, 2021.

Detailed explanation-4: -As per Section 139 (1) of Income Tax Act, the original deadline for ITR filing for FY 2021-22 (AY 2022-23) was July 31 2022. For those who missed the original due date, December 31 was the last date to file belated returns.

There is 1 question to complete.