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Income Tax Return Filing Deadline For 2019 20.

04 January, 2021 - By Bhanu

The Central Board of Direct Taxes (CBDT) has extended the due date for furnishing Income Tax Returns for FY2019-20 to January 10, 2021. The earlier deadline to file the tax returns was December 31, 2020.

The due date for filing declaration under the direct tax dispute resolution scheme 'Vivad Se Vishwas' has been extended by a month till January 31.

The deadline for companies and individuals who need to get their accounts audited too has been extended by 15 days till February 15, the finance ministry said in a statement.

The government has also extended the due date for filing annual returns for the financial year 2019-20 under the Central Goods and Services Tax Act, 2017, to February 28.

The ITR deadline extension is for those whose accounts are not required to be audited and who file their income tax return under ITR-1 or ITR-4 forms.

Over 4.54 crore ITRs for 2019-20 fiscal (assessment year 2020-21) were filed till December 28. In the comparable period last year, 4.77 crore income tax returns were filed.

At the close of deadline for filing ITRs without payment of late fees for fiscal 2018-19 (assessment year 2019-20), over 5.65 crore returns were filed by taxpayers.

Additionally, to provide relief to small and middle-class taxpayers, the due date for payment of self-assessment tax has been extended to February 15, 2021.

 “In view of the continued challenges faced by taxpayers in meeting statutory compliances due to outbreak of COVID-19, the Government of India further extends the dates for various compliances,” the Central Board of Indirect Taxes and Customs said in a statement.

Notably, this is the third time the government extended the deadline for filing ITR for FY20. The deadline was first extended from July 31 to November 30 and then to December 31, 2020.

Nangia & Co LLP Partner Shailesh Kumar said the last-minute extension has ensured that maximum ITRs/ audit reports are already filed, while only the last-minute filers have been given some additional time for filing.

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