By Raju Vernekar
Mumbai, Dec. 31:
In view of the challenges faced by taxpayers in meeting the “statutory and regulatory compliances” due to the outbreak of Covid-19, the Income Tax department has further extended the deadline for income tax filing till 10 January,2021.
In the notification issued on 24 June, the first deadline for filing the ITR which was on July 31, was extended to November 30. It was extended for the second time till 30 December. Now this is the third extension in this year. However, this is for taxpayers without requiring audit. For others, there have been separate extensions, IT notification issued on 30 December stated.
The deadline for furnishing ITR details for taxpayers who are required to get their accounts audited has been extended to 15 February, 2021. The original deadline of 31 October, which got extended to 30 November and then to 31 January, 2021, respectively.
Taxpayers who are required to furnish report in respect of international/specified domestic transaction will now have to file their ITRs by February 15. The earlier deadline was November 30, which got extended to January 31.
The date for furnishing of various audit reports under the Act including tax audit report and report in respect of international/specified domestic transaction for assessment year 2020-21 has been extended to 15 January, 2021.
The last date for making a declaration under “Vivad se Vishwas” scheme has been extended to 31 January, 2021 from 21 December, 2020. To provide relief to small and middle class taxpayers in the matter of payment of self-assessment tax, the due date for payment of self-assessment tax has also been extended. For those whose self-assessment tax liability is up to Rs one lakh, the deadline has been extended to 15 February, 2021.
The date for passing of order or issuance of notice by the authorities under the Direct Taxes and Benami acts which are required to be passed/issued made by 30 March 2021 has been extended till 31 March 2021.
The Government has also extended the due date of filing annual return under section 44 of the Central Goods and Services Tax 2017 for the financial year 2019-2020 from 31 December 2020 to 28 February 2021.
