New Delhi: The deadline for filing the income tax return (ITR) for FY 2019-20 has been extended till December 31, 2020, for most individual taxpayers. The earlier deadline was November 30, 2020.
This is the second time that the tax filing deadline for FY20 has been extended.
A government note in this regard stated, “To provide more time to taxpayers for furnishing their ITR, it has been decided to further extend the due date for furnishing of Income-Tax Returns as under:
The due date for furnishing ITRs 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.
The due date for furnishing ITRs 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.
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,” the government note added.
Further, relief is provided to the small and middle class taxpayers in the matter of payment of self-assessment tax. The due date for payment of self-assessment tax has again been extended.
Accordingly, the due date for taxpayers whose 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 those whose accounts are not required to be audited.
Also read in Hindi: खुशखबरीः आयकर रिटर्न भरने की समय सीमा 31 दिसंबर तक बढ़ाई गई