National Affairs

Income Tax Return Filing Deadline For FY-20 Extended Till Dec 31 On Saturday

In a major relief to taxpayers, the Central Board of Direct Taxes (CBDT) on Saturday extended the deadline for filing income tax returns (ITR) for FY 2019-20 (AY 2020-21) by a month till 31 December, 2020. “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,” CBDT said in a statement. This was the second time that the finance ministry had extended the deadlines of filing ITR for the financial year 2019-20 “In view of the challenges faced by taxpayers in meeting the statutory and regulatory compliances due to the outbreak of COVID-19,” the CBDT had earlier provided the taxpayers time till November 30 to file the returns. For those taxpayers whose accounts need to be audited, the ITRfiling deadline has been extended by two months till 31 January, 2021. “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) as per the Act is 31st October, 2020] has been extended to 31 January, 2021,” CBDT mentioned in a statement.

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