F.No. 225/358/2018/ITA.II

Government of India

Ministry of Finance

Department of Revenue

Central Board of Direct Taxes

Dated: 8th October, 2018

Order under Section 119 of the Income-tax Act, 1961

On consideration of representations from various stakeholders for further extension of due date being 30th September, 2018 for purpose of filing return of income as well as various reports of audit pertaining to Assessment Year 2018-2019 for assessees covered under clause (a) of Explanation 2 of section 139(1) of the Income-tax Act, 1961 (Act], the Board, in partial modification of its order dated 24.09.2018 in file of even number, hereby, further extends the due date for filing of return of income and reports of audit pertaining to Assessment Year 2018-2019 from 15th October, 2018 to 31st October, 2018. However, as specified in earlier order dated 24.09.2018, assessees filing their return of income within the extended due date shall be liable for levy of interest as per provisions of section 234A of the Act.

Press Information Bureau

Government of India

Ministry of Finance

04 OCT 2018

Direct Tax Collections for F.Y. 2018-19 up to September, 2018 (Half-yearly figures) show that gross collections are at Rs. 5.47 lakh crore which is 16.7% higher than the gross collections for the corresponding period of last year

The provisional figures of Direct Tax collections up to September, 2018 (Half-yearly figures) show that gross collections are at Rs. 5.47 lakh crore which is 16.7% higher than the gross collections for the corresponding period of last year. It is pertinent to mention that gross collections of the corresponding period of F.Y. 2017-18 also included extraordinary collections under the Income Declaration Scheme(IDS), 2016 amounting to Rs. 10,254 crore (Third and last instalment of IDS), which does not form part of the current year’s collection.

Refunds amounting to Rs.1.03 lakh crore have been issued during April, 2018 to September, 2018, which is 30.4% higher than refunds issued during the same period in the preceding year. Net collections (after adjusting for refunds) have increased by 14% to Rs. 4.44 lakh crore during April, 2018 to September, 2018. The net Direct Tax collections represent 38.6% of the total Budget Estimates of Direct Taxes for F.Y. 2018-19 (Rs. 11.50 lakh crore).

So far as the growth rate for Corporate Income Tax (CIT) and Personal Income Tax (PIT) is concerned, the growth rate of gross collections for CIT is 19.5% while that for PIT (including STT) is 19.1%. After adjustment of refunds, the net growth in CIT collections is 18.7% and that in PIT collections is 14.9%.

An amount of Rs.2.10 lakh crore has been collected as Advance Tax, which is 18.7% higher than the Advance Tax collections during the corresponding period of last year. The growth rate of Corporate Advance Tax is 16.4% and that of PIT Advance Tax is 30.3%.

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DSM/RM/KA

Click here to read and download ITAT order reported in [TS-8237-ITAT-2018(Delhi)-O]

(Rajarajeswari R.)

Under Secretary to the Government of India

Click here to read and download HC order reported in [TS-6808-HC-2018(Gujarat)-O]