The Central Board of Direct Taxes ( CBDT ) has extended the all due dates of all Income Tax Returns for the Financial Year 2019-20 till January 10th, 2020.
The due date for furnishing of Income Tax Returns for the Assessment Year 2020-21 for the taxpayers (including their partners) who are required to get their accounts audited and companies [for whom the due date, as per the provisions of section 139(1) of the Income-tax Act,1961, was 31st October, 2020 and which was extended to 30th November, 2020 and then to 31st January, 2021] has been further extended to 15th February, 2021.
The due date for furnishing of Income Tax Returns for the Assessment Year 2020-21 for the taxpayers who are required to furnish report in respect of international/specified domestic transactions [for whom the due date, as per the provisions of section 139(1) of the Income-tax Act,1961, was 30th November, 2020 and which was extended to 31st January, 2021] has been further extended to 15th February, 2021.
The due date for furnishing of Income Tax Returns for the Assessment Year 2020-21 for the other taxpayers [for whom the due date, as per the provisions of section 139(1) of the Income-tax Act, 1961, was 31st July, 2020 and which was extended to 30th November, 2020 and then to 31st December, 2020] has been further extended to 10th January, 2021.
The date for furnishing of various audit reports under the Act including tax audit report and report in respect of international/specified domestic transaction for the Assessment Year 2020-21 has been further extended to 15th January, 2021.
The last date for making a declaration under Vivad Se Vishwas Scheme has been extended to 31′ January, 2021 from 31st December, 2020. The date for passing of orders under Vivad Se Vishwas Scheme, which are required to be passed by 30th January, 2021 has been extended to 31st January, 2021.
Further, in order to provide relief for the third time 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 15° February, 2021 for the taxpayers mentioned in para 4(a) and para 4(b) and to 10° January, 2021 for the taxpayers mentioned in para 4(c). 6.
The deadline for ITR filing is generally on July 31 each year but this year, the last date has been shifted a couple of occasions because of the outbreak of the coronavirus (COVID-19) pandemic and was fixed on December 31, 2020.
The tax department usually allows an extension for a few days if the public faces any difficulty in meeting the deadline and a longer extension for assessees in states in case there are exceptional events like a natural calamity.
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