New Delhi, Oct 24 (UNI) The last date for filing income tax return (ITR) for FY 2019-20 has been extended to December 31, 2020, for most individual taxpayers, from the earlier deadline of November 30, 2020.
This the second time the deadline for FY20 has been extended.
A government press release issued on Saturday said, it has been decided to further extend the due date for furnishing of Income-Tax Return to provide more time to tax payers.
The due date for furnishing of income tax returns for individual taxpayers has been extended to 31st December, 2020.
The due date for furnishing of Income Tax Returns for the taxpayers (including their partners) who are required to get their accounts audited has also been extended to December 31, 2020.
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 has been extended to 31st January, 2021.
Consequently, the date for furnishing of various audit reports under the Act including tax audit report and report in respect of international/specified domestic transaction has also been extended to 31st December, 2020, said the release.
Further, relief is provided to the small and middle class taxpayers in the matter of payment of 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 whose accounts are required to be audited and on 31st December, 2020 for the taxpayers whose accounts are not required to be audited.
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