Income Tax Returns Filing Date for AY 2020-2021 gets a new extension, CBDT extends deadline to December 31, 2020
The Central Board of Direct Taxes (CBDT) has extended the deadline for taxpayers to file their income tax returns (ITR) for FY 2019-2020 (Assessment year 2020-2021) to December 31st, 2020 from the previous deadline of November 30th, 2020. On the other hand, the ones who are required to get their ITR audited, the deadline has been extended to January 31, 2021. These new dates are communicated through a notification today (24th October, 2020).
The new due dates for furnishing of Income-Tax Returns are as follows:
(A) 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 before this extension notification as per the Act is 31st October, 2020] has been extended to 31st January, 2021.
(B) 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 before this extension notification as per the Act is 30th November, 2020] has been extended to 31st January, 2021.
(C) The due date for furnishing of Income Tax Returns for the other taxpayers [for whom the due date before this extension notification) as per the Act was 31st July, 2020] has been extended to 31st December, 2020. Earlier, the govt issued a notification in June, which extended the due date for all Income returns for the FY 2019-2020 (AY 2020-2021) to 30th November, 2020.
To provide relief to small and medium class taxpayers regarding self-assessment tax, the due date for payment of self-assessment tax date is hereby again being extended. Accordingly, the due date for payment of self-assessment tax for taxpayers whose self-assessment tax liability is up to Rs. 1 lakh has been extended to 31st January, 2021 for the taxpayers mentioned in para 3(A) and para 3(B) and to 31st December, 2020 for the taxpayers mentioned in para 3(C), CBDT said in the press release.
Furthermore, the due date for GST annual returns for FY 2018-2019 has been extended by two months and it is now December 31, 2020.