Headlines October 25, 2020
Income tax return filing deadline extended
Due to ongoing Covid-19 pandemic, the Income Tax (IT) department on Saturday extended the deadline for individuals to file their IT returns till 31 December. This is for the financial year 2020-21. Those who needs to get their accounts audited will have a new deadline of 31 January instead of 31 December.
“In view of constraints being faced by taxpayers due to COVID-19,CBDT further extends due dates for various compliances for FY 2019-20: The due dt of furnishing Income Tax Returns(ITRs)for taxpayers whose accounts require to be audited has been extended to 31st, January,2021”, tweeted Income Tax India.
The central government in May, had extended IT filing date to 30 November from 31 July. This latest decision by IT department is indeed going to be a huge relief to lakhs of taxpayers across India, many of whom have lost their jobs and are struggling to make ends meet.
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