Deadline For Filing It Returns Extended

The Central Board of Direct Taxes (CBDT) has extended the time limit for filing income tax returns for assessment year 1997-98 to February 28, 1998, for those required to file their returns based on the four economic indicators, an official release said here yesterday. If a person fulfils two of the following economic indicators, that is, occupies an immovable property (house), is owner or lessee of a motor vehicle, telephone subscriber or has incurred expenditure on foreign travel, he is required to file returns under section 139 (1) of the Income Tax Act by February 28, 1998, the release said.