Considering the ongoing coronavirus pandemic, the government on Wednesday extended the deadline for the third time, which will allow individuals to file their income tax returns for 2019-20 fiscal till January 10.
In addition to this, the tax department has also given an extension of 15 days to the companies and individuals who need to get their accounts audited. The due date of furnishing their annual ITR is February 15, the finance ministry said in a statement.
Earlier, the due date for filing income tax return (ITR) by individuals and companies was December 31, 2020, and January 31, 2021, respectively.
The IT department on Wednesday said that over 4.54 crore ITRs for 2019-20 fiscal (assessment year 2020-21) were filed till December 28. In the comparable period last year, 4.77 crore income tax returns were filed.
At the close of deadline for filing ITRs without payment of late fees for fiscal 2018-19 (assessment year 2019-20), over 5.65 crore returns were filed by taxpayers.
The income tax department tweeted that the extension in various deadline was given in view of the continued challenges faced by taxpayers in meeting statutory compliances due to the outbreak of COVID-19.
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
Also, the due date for filing declaration under the direct tax dispute resolution scheme Vivad Se Vishwas has been extended by a month till January 31.
The deadline for filing GST annual return for 2019-20 fiscal has been extended by 2 months till February 28, 2021.