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Amritsar, NFA Post: The Central government today extended the deadline for filing income-tax returns (ITR) for the 2019-20 financial year by a month till Dec 31, 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,” Central Board of Direct Taxes (CBDT) said in a statement.

Earlier in May, the government had extended the deadline for filing ITR to Nov 30, 2020. “In view of the challenges faced by taxpayers in meeting the statutory and regulatory compliances due to the outbreak of COVID-19,” the government earlier extended various time limits, the statement said.

According to the CBDT the deadlines have been extended so as to “provide more time to taxpayers for furnishing of Income Tax Returns.”

Extended deadlines as detailed by Ministry of Finance:
  • 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 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) as per the Act is 30th November, 2020] has been extended to 31st January, 2021.
  • The due date for furnishing of Income Tax Returns for the other taxpayers [for whom the due date (i.e. before the extension by the said notification) as per the Act was 31st July, 2020] has been extended to 31st December, 2020.

The government has also extended the due date for payment of self-assessment tax to “provide relief for the second time to small and middle class taxpayers.”

The due date for payment of self-assessment tax for taxpayers whose self-assessment tax liability is up to one lakh rupees has been extended to Jan 31,2021 for the taxpayers, the statement added.

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