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StaffCorner

31 Dec, 2020 12:48 PM

 हिं इस लेख को हिंदी में पढ़ें (मशीन द्वारा अनुवादित)

IT filing due date extended for the third time to January 10

IT filing due date extended for the third time to January 10

The government have extended the dates for filing income tax returns and tax audit reports for FY20 for various classes of taxpayers. The last date for filing the Income Tax for for individuals is January 10, 2021.

This is the third time that the government has extended the deadline to file ITR -- first from the normal deadline of July 31 to November 30, 2020, and then to December 31, 2020.

The finance ministry said the extension in various deadline was given in view of the continued challenges faced by taxpayers in meeting statutory compliances due to the outbreak of COVID-19.

Also, the due date for filing declaration under the direct tax dispute resolution scheme Vivad Se Vishwas has been extended by a month till January 31.

The extension of the deadline till January 10 is for filing ITR for 2019-20 fiscal year (2020-21 assessment year) and is for those individuals whose accounts are not required to be audited and who usually file their income tax return using ITR-1 or ITR-4 forms, as applicable, the statement said.

The deadline for other taxpayers whose accounts are required to be audited (including partners of a firm) and/or those who have to submit report in respect to international financial transactions has been extended to February 15, 2021.For companies, the date was extended from October 31 to November 30 and then to January 31, 2021. This has now been extended till February 15.

The due date for furnishing of ITR for 2019-20 fiscal for taxpayers who are required to furnish report of international/specified domestic transactions has also been extended till February 15. The date for filing tax audit report too has been extended to January 15.

The date for payment of self-assessment tax for taxpayers whose tax liability is up to ₹ 1 lakh has been extended to January 10 and February 15 for various categories of taxpayers.

( Also read: Attention: Failing to file IT returns by last day will cost heavily


 हिं इस लेख को हिंदी में पढ़ें (मशीन द्वारा अनुवादित)


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