ITR filing deadline for 2019-20 fiscal extended till December 31

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This is the second time that the finance ministry had extended the deadlines of filing ITR for the financial year 2019-20

In a huge relief to millions of tax payers, the Finance Ministry on Saturday, October 24, extended the deadline for filing income-tax returns (ITR) for 2019-20 financial year by a month till December 31, 2020.

A statement issued by the Central Board of Direct Taxes (CBDT) said that the decision was taken in view of the challenges faced by taxpayers in meeting the statutory and regulatory compliances due to coronavirus pandemic.

The CBDT, which had earlier provided the taxpayers time till November 30 to file the returns, has also extended the deadline for ITR filing for those whose accounts need to be audited till January 31.

The date for furnishing of various audit reports under the Act including tax audit report and report in respect of international or specified domestic transaction has also been extended to December 31, the statement added.

The due date for payment of self-assessment tax has also been extended to "provide relief for the second time to small and middle class taxpayers. The due date for payment of self-assessment tax for taxpayers whose self-assessment tax liability is up to ₹1 lakh has been extended to January, 31 2021 for the taxpayers," the statement added (with inputs from agencies)

Image Credit: New Indian Express

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