To provide more time to taxpayers for furnishing of Income Tax Returns, the Central government has extended the deadline for filing returns by individual taxpayers for Financial Year 2019-20 till 31st of December this year. Earlier, the tax filing deadline was 30th of November.
Ministry of Finance in a statement said, the due date of furnishing Income Tax Returns for taxpayers whose accounts require to be audited, has been extended till 31st of January, 2021. Due date for furnishing of Income Tax Returns by the taxpayers who are required to furnish report in respect of international and specified domestic transactions has also been extended to 31st January, 2021.
The date for furnishing of various audit reports including tax audit report and report in respect of international and specified domestic transaction has also been extended to 31st December, 2020.
Besides, 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 Ministry said, the due date for payment of self-assessment tax by taxpayers whose self-assessment tax liability is up to one lakh rupees has been extended to 31st January, 2021.