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New Delhi, October 24: In a relief to taxpayers, the Centre on Saturday extended the date of filing income tax returns for the financial year 2019-2020 by individuals till December 31. The date has been extended by a month. Earlier, in May this year, the government had extended the last date for filing ITR from July 31 to November 30. CBDT Issues Refunds of Over Rs 1,01,308 Crore to More Than 27.55 Lakh Taxpayers Between April 1 to September 8.
Meanwhile, the last date for filing ITR for those who are required to get their accounts audited, is January 31. The Central Board of Direct Taxes (CBDT) said, "Due date for furnishing of Income Tax Returns for taxpayers (including their partners) who are required to get their accounts audited [for whom the due date (i.e. before the extension by new notification) as per Income Tax Act is 31 Oct 2020] is extended to 31 Jan 2021." New ITR Filing Criteria Introduced by Narendra Modi Govt From This Year; Individuals Need to File ITR Even If Minimum Income Does Not Fall Under Tax Slab; Here's Why.
Tweet by ANI:
The due date for furnishing of Income Tax Returns for the other taxpayers [for whom the due date (i.e. before the extension by the said notification) as per the Act was 31 July, 2020] has been extended to 31 December 2020: Central Board of Direct Taxes (CBDT)
— ANI (@ANI) October 24, 2020
The Central Board of Direct Taxes also extended the last date of furnishing audit reports, including tax audit report and report in respect of international/specified domestic transaction to December 31. The decision has also been taken to extend the due date for filing Annual Return (FORM GSTR-9/GSTR-9A) and Reconciliation Statement (FORM GSTR-9C) for Financial Year 2018-19 from October 31, 2020 to December 31, 2020.
Tweets by ANI:
Due date for furnishing of Income Tax Returns for taxpayers (including their partners) who are required to get their accounts audited [for whom the due date (i.e. before the extension by new notification) as per Income Tax Act is 31 Oct 2020] is extended to 31 Jan 2021: CBDT
— ANI (@ANI) October 24, 2020
The Income Tax Department has also issued a lengthy instruction manual running into hundreds of pages for filling up the tax returns for assessment year 2020-21. These instructions are guidelines to help the taxpayers for filling the particulars in Income-tax Return Form-1 for the Assessment Year 2020-21 relating to the Financial Year 2019-2020.
(The above story first appeared on LatestLY on Oct 24, 2020 03:21 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).
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