Relief for taxpayers: Deadline to file income tax returns extended further to January 10
The Indian government has extended the deadline income tax return filing has been extended from December 31 to January 10.
The extension of the deadline is specifically for those individuals whose accounts do not require an audit and usually file their income tax returns using the ITR-1 or ITR-4 forms.
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In view of the continued challenges faced by taxpayers in meeting statutory compliances due to outbreak of COVID-19… https://t.co/sabAefM1qe— Income Tax India (@IncomeTaxIndia) 1609331632000
AdvertisementThis is the third time that the Income Tax Department that extended the deadline to file income tax returns this year. It was initially pushed forward from August 31 to November 30 this year on account of the COVID-19 pandemic. It was postponed again to December 31.
The government has also extended other deadlines to file other tax returns for the year 2019-2020.
New deadlines for filing tax returns:
|Individual ITRs||10 January 2021|
|Tax audit and other audits||15 January 2021|
|ITR audit cases||15 February 2021|
|Vivad se Vishwas scheme||31 January 2021|
|GSTR-9/9C||28 February 2021|
According to the press release, over one crore ITR-4 applications have already been filed till December 29 — a marginal increase from 99.50 lakh who filed in August last year.
The data shows that individuals filing for tax returns have slowed down so far this year but filings by businesses and trusts have increased.
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