In a major relief to taxpayers, the deadline for filing returns (ITR) by individual taxpayers for the financial year 2019-20 has been extended by a month till December 31.
“The due date for furnishing of Income Tax Returns (ITR) 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,” said
Central Board of Direct Taxes (CBDT) in a statement.
Earlier, the deadline had been extended to November 30 owing to the coronavirus pandemic.
“The due date for furnishing of Income Tax Returns (ITR) for the taxpayers (including their partners) who are required to get their accounts audited [for whom the due date (ie before the extension by the said notification) as per the Act is 31st October, 2020] has been extended to 31 January, 2021,” it said.
“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 30th November, 2020] has been extended to 31st January, 2021,” the statement read.
“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.
