Last date to file Income Tax returns extended till December 31

NH Bureau Saturday, 24 October 2020 04:41:40 PM

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New Delhi : The Income Tax Department has announced that the last date to file the tax returns for the financial year 2019-20 (the assessment year 2020-21) has been extended by a month.

The taxpayers will now be able to file their tax returns by December 31, instead of November 30. For individuals required to get their accounts audited, a new deadline of January 31 is applicable, instead of December 31.

The last date for assessees required to furnish audit reports on international or specified domestic transactions has also been extended to January 31, from November 30.

In view of constraints being faced by taxpayers due to COVID-19,CBDT further extends due dates for various compliances for FY 2019-20:
The due dt of furnishing Income Tax Returns(ITRs)for taxpayers whose accounts require to be audited has been extended to 31st, January,2021 (1/5) pic.twitter.com/cWWbXu80K9
— Income Tax India (@IncomeTaxIndia) October 24, 2020

The government informed that the decision has been taken in a view of current COVID-19 situation in the nation. The Income Tax Department acknowledged the "challenges faced by taxpayers in meeting the statutory and regulatory compliances due to the outbreak of COVID-19".

Earlier in May, the deadline was extended from July 31 to November 30. It had also moved the last date to furnish various audit reports - including tax audit report - to October 31.