As per provisions of Section 139(1) of Income-tax Act 1961, Central Board of Direct Taxes (CBDT) on Friday extended the due date for filing returns of Income for Assessment Year 2016- 2017 from July 31 to August 5 in case of taxpayers throughout India, who are liable to file their Income-tax by July 31, 2016.
This extension is given in order to avoid any inconvenience to the taxpayers while making payment of taxes pertaining to returns of income for Assessment Year 2016- 2017 by July 31, 2016 due to reports of Bank strike on July 29 and July 31being a Bank-Holiday.
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