New Delhi, December 30: The Central government on Wednesday further extended the deadline to file Income Tax Return for the financial year 20219-2020. The decision comes in the wake of challenges faced by the taxpayers to meet the statutory compliance amid COVID-19 outbreak, tweeted the Income Tax Department. ITR Filing FY 2019-20: Number of Income Tax Returns Filed Rise Steadily as December 31, 2020 Deadline Nears, Check Steps to File ITR to Avoid Paying Penalty.
As per the press release, the last date of filing the income tax return for the entities that are required to get their accounts audited, and companies has been extended to February 15, 2021. For the other taxpayers, the deadline has been further extended from December 31, 2020 to January 10, 2021.
Read the Tweet Here:
In view of the continued challenges faced by taxpayers in meeting statutory compliances due to outbreak of COVID-19, the Govt further extends the dates for various compliances. Press release on extension of time limits issued today: pic.twitter.com/lMew09HXMq
— Income Tax India (@IncomeTaxIndia) December 30, 2020
The last date for furnishing of Income Tax Returns for the taxpayers who are required to furnish report in respect of international or specified domestic transactions has been further extended to February 15, 2021.The last date of filing return under the Central Goods and Services Tax Act, 2017 has been extended to February 28,2021 for the fiscal year previous fiscal year. ITR Filing FY 2019-20 Penalty: Govt Doubles Fine Amount For Missing Income Tax Return Deadline on December 31 This Year.
The deadline for declaration under Vivad Se Vishwas Scheme has been also extended to January 31, 2021. The date for furnishing of various audit reports under, including tax audit report and report in respect of international/specified domestic transaction has been further extended to January 15, 2021.
More than 4.54 crore tax returns for 2019-20 fiscal have been filed till December 29, the Income Tax Department said on Wednesday. Along with this, Income Tax refunds of Rs 50,554 crores have been issued in 1,31,11,050 cases and corporate tax refunds of Rs 1,06,069 crores have been issued in 2,03,334 cases.