Form16, a key requisite for filing of income tax returns by salaried persons, may be delayed this year as the Income Tax Department has extended the date for issuing the TDS certificate by almost a month.
In a normal situation, salaried persons are required to file the Income Tax Return by July 31. As of now, tax authorities have not announced revising the date, but experts feel that after the latest development, return filing date could be extended.
According to an order by the Central Board of Direct Taxes (CBDT), with a view to redress genuine hardship of deductors in timely filing of TDS (Tax Deducted at Source) statement in Form 24Q on account of revision of its format and consequent updating of the File Validation Utility for its online filing, the due date of filing of TDS statement in Form 24Q for financial year 2018-19 has been extended to June 30 from May 31. Also, due date for issue of TDS certificate in Form 16 for financial year 2018-19 has been extended to July 10 from June 15.