Last Date to File ITR for FY19-20 Extended till Dec 31

In wake of COVID19 pandemic, the government has yet again extended the deadline for filing Income Tax Returns (ITR) for financial year 2019-20. The Ministry of Finance issued the notification and said that these extensions are announced for providing more time to taxpayers for furnishing ITRs.

The Central Board of Direct Taxes (CBDT) said in the statement: “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.”

Earlier the ITR date was extended till November 30, 2020.

Besides extending last date to file ITR till December 31, 2020, CBDT also shifted timelines for other important ITR dates.

The date for filing ITR for taxpayers whose accounts need to be audited has been extended by two months i.e. January 31, 2021. The last date for furnishing audit reports (tax audit report and international/ domestic transaction report) is now December 31, 2020.

Also, the due date for furnishing of ITR for those who are required to furnish report viz-a-viz international/specified domestic transactions has been extended to January 31, 2021 from November 30, 2020.

Similarly the due date for self-assessment tax has been extended so as to provide relief to small and middle class taxpayers said the CBDT statement. In effect, deadline for self-assessment tax for 2020 is January 31, 2021, subject to self-assessment tax liability up to Rs 1 lakh.