GUWAHATI: The Income Tax Department on Saturday extended the deadline for individual assesses to file their returns for financial year 2019-20 (assessment year 2020-21) by a month, in a relief to taxpayers on account of COVID-19.
"The due date for furnishing of Income Tax Returns for the taxpayers [for whom the due date (i.e. before the extension by the said notification) as per the Act was July 31, 2020] has been extended to December 31, 2020," Central Board of Direct Taxes (CBDT) said in a statement.
For those taxpayers whose accounts need to be audited, the ITR filing deadline has been extended by two months till 31 January, 2021.
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 (i.e. before the extension by the said notification) as per the Act is 30th November, 2020] has been extended to 31st January, 2021.
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 31 January, 2021 for the taxpayers.
The CBDT said the deadlines have been extended in order to "provide more time to taxpayers for furnishing of income tax returns".