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Date for filing income tax returns extended

The Central Board of Direct Taxes on Tuesday extended the date of filing the return of income under one-by-six scheme by March 2, 2002.

The last date for filing of the returns under the scheme was November 30, 2001.

A finance ministry release stated that the department had extended the operation of the scheme to 4989 new urban centres in the current assessment year as against 133 centres to which the scheme was applicable till last year.

Many people, especially in the new urban centres, did not file their returns due to lack of awareness, despite having a legal liability to do so.

The Income Tax Act provides for an imposition of a penalty of Rs 5,000 for failure to file the return in time.

The CBDT order under section 119(1) of the Income Tax Act has been issued to mitigate the hardships which will be caused to the large number of people who failed to file the return by November 30, 2001, the release added.

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