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    Income tax return filing deadline for FY20 extended till Dec 31

    Synopsis

    In the press statement dated October 24, 2020, the Central Board of Direct Taxes said, "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."

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    The income tax return (ITR) filing deadline for FY 2019-20 has been further extended to December 31, 2020, for most individual taxpayers, from the earlier deadline of November 30, 2020. This the second time the tax filing deadline for FY20 has been extended.

    As per the government’s press release issued on October 24, 2020, “In order to provide more time to taxpayers for furnishing of their ITR, it has been decided to further extend the due date for furnishing of Income-Tax Returns as under:

    Due date for furnishing of income tax returns (ITR) for these individual taxpayers [for whom the due date (i.e. before the extension by the said notification dated June 24, 2020 as per the Act was 31st July, 2020] has been extended to 31st December, 2020.

    Also read: How to file ITR? Here's the complete guide

    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 dated June 24, 2020) as per the Act is 31st October, 2020] has been extended to 31st January, 2021.

    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 dated June 24, 2020) as per the Act is 30th November, 2020] has been extended to 31st January, 2021.
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    Consequently, the date for furnishing of various audit reports under the Act including tax audit report and report in respect of international/specified domestic transaction has also been extended to 31st December, 2020, said the government in a press release.

    Further, relief is provided to small and middle class taxpayers in the matter of payment of self-assessment tax, the due date for payment of self-assessment tax date is hereby again being extended. Accordingly, the due date for payment of self-assessment tax for taxpayers whose self-assessment tax liability is up to Rs 1 lakh has been extended to 31st January, 2021 for the taxpayers whose accounts are required to be audited and to 31st December, 2020 for the taxpayers whose accounts are not required to be audited."
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    16 Comments on this Story

    Gusst11 days ago
    Nice article
    Dhruv Joshi kingman21 days ago
    that is the good decided by owner government
    Prabhakar Sunku33 days ago
    It is good to see that Govt is extending the dead line prior to the date. Similarly i will be happy if Govt extends dead line for submitting Life certificate to another month atleast say Jan 2021 end. For the banks are crowded with regular customers. In fact Govt should devise a method by which senior Citizens need not visit Banks for this. Mind you seniors are more prone to get infected with COVID. say an online fillable form with authentication/verification by OTP.Thanks in advance
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