CAF-2 · Chapter 14 · Question 13 of 15
A taxpayer applies for an extension of time to file their income tax return, and the Commissioner grants a 15-day extension. What is the impact of this extension on the payment of the tax due?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) B) The extension does not change the due date for the payment of income tax, and default surcharge shall be chargeable for the delayed payment.
Explanation
An extension of time granted for furnishing the return shall not change the due date for payment of income tax payable on the basis of the return, and default surcharge shall be chargeable for the delayed payment of tax due.
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