New Delhi: In a relief to tax payers, the Central government on Saturday extended the deadline for filing income-tax returns (ITR) for FY 2019-20 (AY 2020-21) by a month till 31 December, 2020.
“The due date for furnishing of Income Tax Returns for the taxpayers [for whom the due date (i.e. before the extension by the said notification) as per the Act was July 31, 2020] has been extended to December 31, 2020,” Central Board of Direct Taxes (CBDT) said in a statement.
The Central government in May extended the deadline for filing ITR to November 30, 2020. “In view of the challenges faced by taxpayers in meeting the statutory and regulatory compliances due to the outbreak of COVID-19”, the government earlier extended various time limits, the statement read.
The CBDT said the deadlines have been extended in order to “provide more time to taxpayers for furnishing of Income Tax Returns”. For those taxpayers whose accounts need to be audited, the ITR filing deadline has been extended by two months till 31 January, 2021. “The due date for furnishing of Income Tax Returns for the taxpayers (including their partners) who are required to get their accounts audited [for whom the due date (i.e. before the extension by the said notification) as per the Act is 31st October, 2020] has been extended to 31 January, 2021,” ministry of finance said in a statement.
“The due date for furnishing of Income Tax Returns for the taxpayers who are required to furnish report in respect of international/specified domestic transactions [for whom the due date (i.e. before the extension by the said notification) as per the Act is 30 November, 2020] has been extended to 31st January, 2021,” the statement mentioned.
The date for furnishing of various audit reports under the Act including tax audit report and report in respect of international or specified domestic transaction has also been extended to 31 December, the finance ministry said. The due date for payment of self-assessment tax has also been extended to “provide relief for the second time to small and middle class taxpayers.”
The due date for payment of self-assessment tax for taxpayers whose self-assessment tax liability is up to ₹1 lakh has been extended to 31 January, 2021 for the taxpayers, the statement added.
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