The Economic Times
English EditionEnglish Editionहिन्दी
| E-Paper
Search
+

    Belated, revised ITR filing deadline for FY2018-19 extended to November 30, 2020

    Synopsis

    ​This is the fourth time the government has extended the deadline of filing belated ITR from the original deadline of March 31, 2020, due to novel coronavirus pandemic situation in the country.

    Getty Images
    The belated ITR is filed under section 139 (4) of the Income-tax Act and revised return is filed under section 139(5) of the Income-tax Act.
    ET Calculator Banner
    The deadline to file belated/revised income tax returns (ITR) for FY 2018-19 has been extended to November 30, 2020 from the earlier one of September 30, 2020. The income tax department made this announcement via its official Twitter handle. So now the deadlines to file ITR for FY19-20 and FY18-19 is November 30, 2020.

    The tax department on its official Twitter handle said: "On further consideration of genuine difficulties being faced by taxpayers due to the Covid-19 situation, CBDT further extends the due date for furnishing of belated & revised ITRs for Assessment year 2019-20 from 30th September, 2020 to 30th November, 2020.Order u/s 119(2a) issued."


    This is the fourth time the government has extended the deadline of filing belated ITR from the original deadline of March 31, 2020 due to novel coronavirus pandemic situation. Earlier, the government had extended the belated ITR filing deadline to June 30, 2020, then to July 31, 2020 and subsequently to September 30, 2020.

    If the deadline had not been extended, then those who have not filed the ITR for the financial year 2018-19 by today would have lost the chance to file the tax return unless specifically asked by the income tax department via a tax notice. However, individuals should remember that those filing belated ITR for FY 2018-19 now would require to pay a late filing fee of Rs 10,000. However, if the total income does not exceed Rs 5 lakh, then maximum late filing fee will not exceed Rs 1,000.

    What is belated and revised return?
    A belated return is the tax return filed after the expiry of original deadline of filing the income tax return for a particualr financial year.

    A revised ITR is filed by an individual if a mistake such as forgetting to claim a deduction, not reporting of income, bank account etc. has been made at the time of filing their original tax return.

    A belated ITR is filed under section 139 (4) of the Income-tax Act, 1961 and revised return is filed under section 139(5) of the Income-tax Act.
    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Also Read

    6 Comments on this Story

    Ravichandra4 days ago
    The deadline for filing the tax audit report for the companies for the Asst Year 2020-21 should be postponed from the present date of 31st October 2020 by at least 2 more months.
    All other deadlines are extended. But this one is a major one. As all are aware, due to Covid situation, the Companies are worst affected in their business. Added to their woes, the staff also could not attend for most of the months post covid resulting in works getting delayed in the company.
    So, it is pertinent to note that the last date has to be extended by the Govt at any cost for filing the tax audit report.
    This will be a great favor done by the govt to the companies at this crucial juncture. At least , the Govt should render this help during this hour of need.
    Afterall, it is just postponing the filing of report only. Hope the Govt will do the needful at the earliest.
    Nemai Dey24 days ago
    No refund has yet been received assessment year 2020-21 after revised filling of ITR-1 on 11.09.20.How many times taken for received of refund. As because time to time press released that maximum refund case up-to 15th September 20 have been released.
    rajagopalan baskaran24 days ago
    The government should consider to extend gst previous years to renew their cancellation registration.The assessee faced lot of problem like demands made by the assessing officer and portal allowed certain months.Hence they unable file their return.Kindly the honourable finance minister may consider genuine difficulties and exten for another 3 months.
    The Economic Times