I-T department extends deadline for ITR filings

The Government on Friday further extended the deadline to file income tax returns (ITRs) for financial year 2019-20 (assessment year 2020-21) for individual taxpayers by 10 days till January 10, 2021 in wake of the ongoing Covid-19 pandemic.

In a tweet, the I-T department said: “In view of the continued challenges faced by taxpayers in meeting statutory compliances due to outbreak of Covid-19, the government further extends the dates for various compliances.” In addition, the deadline for filing ITR for the financial year 2019-20 by companies has also been extended by 15 days till February 15 from January 31. Earlier, direct tax professionals had sought extension for tax audit report, income tax returns for audit cases and time limit for AGMs in the wake of the ongoing pandemic scenario. The Direct Taxes Professionals Association (DTPA) had urged Finance Minister Nirmala Sitharaman for extension of date of furnishing of tax audit report under section 44AB to February 28 and the due date of filing of income tax returns of assessment year 2020-21 in audit cases to March, 31, 2021.

Meanwhile, the IT department on Wednesday said more than 4.54 crore tax returns for 2019-20 fiscal have been filed till December 29. 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 (AY) 2019-20), over 5.65 crore returns were filed by taxpayers.