Friends, Income Tax Department has extended due date of submission of ITR-V for the Assessment Year 2010-11 or Financial Year 2009-2010 upto 31.10.2011 or 120 days from the date of upload whichever is later.
It is important in above detail that Assessment Year is 2010-11 not Assessment Year 2011-12. I mean to say Income Tax Returns for the Assessment Year 2011-12 will be submitted in their due dates as was earlier. There is no change in due dates in submission of Income Tax Returns for the Financial Year 2010-11. Only changes are relates to submission of ITR-V for the Assessment Year 2010-11 or Financial Year 2009-10.