Centre extends deadline of filing income tax returns to December 31

Published: 24 October, 2020 15:35 IST | IANS | New Delhi

The earlier extension allowed such filing by general taxpayers by November 30

Photo used for representational purpose
Photo used for representational purpose

In a major relief to taxpayers, the Government on Saturday announced extension of the due date for filing income tax returns for the assessment 2020-21 by another month to December 31, 2020.

The earlier extension allowed such filing by general taxpayers by November 30.

Along with general category of taxpayers, the government also extended the date of filing returns by taxpayers (including their partners) who are required to get their accounts audited and those who are required to furnish report in respect of international/specified domestic transactions by two months to January 31, 2020.

The further extension for filing tax returns has been given in view of the challenges faced by taxpayers in meeting the statutory and regulatory compliances due to the outbreak of Covid-19, finance ministry said in a statement.

In order to extend relief of delayed tax filing to small and middle class taxpayers who are liable for payment of self assessment tax, tax returns by such category of taxpayers can also now be filed upto January 31, 2021.

This extension will be available to taxpayers whose self-assessment tax liability is up to Rs 1 lakh.

The government had brought the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 ('the Ordinance') on 31st March, 2020 which, inter alia, extended various time limits. The Ordinance has since been replaced by the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act.

The Government issued a Notification on 24thJune, 2020 under the Ordinance which, inter alia, extended the due date for all Income Tax Returns for the FY 2019-20 (AY 2020-21) to 30th November, 2020. Fresh notification will now be issued by Income In AC department for further extensions.

Keep scrolling to read more news

Catch up on all the latest Crime, National, International and Hatke news here. Also download the new mid-day Android and iOS apps to get latest updates.

Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever

Sign up for all the latest news, top galleries and trending videos from Mid-day.com

Subscribe
loading image
This website uses cookie or similar technologies, to enhance your browsing experience and provide personalised recommendations. By continuing to use our website, you agree to our Privacy Policy and Cookie Policy. OK