By Priyanka Sambhav
The Income Tax department has once again extended the Income Tax Return filing date for the financial year 2019-20 and assessment year 2020-21. Its the second time that government has extended the due date on account of COVID-19. Taxpayers have time until 31st December 2020 to file their IT return. The government had extended income tax return filing dates in May as well. But various industry representative, associations, tax consultant and chartered accountants had requested a further extension in return filing deadline citing COVID19 related issues.
Dates to Remember
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Income tax Return for individual income taxpayer is now 31st December 2020. Normally IT return was filed by 31st July of every year. But due to the pandemic government extended it till 30th November 2020. Now one more month gets added to the extended deadline.
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Taxpayers whose account need to be audited gets a 3-month relief. They had to file their IT return by 31st October 2020. But now the new due date is 31st January 2021.
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Taxpayers who are required to furnish international/specified domestic transaction report has been extended to 31st January 2021.
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Due date for GST return has also been extended. Annual Return (Form GSTR-9/GSTR-9A) and Reconciliation Statement (FORM GSTR-9C) for Financial Year 2018-19 is now changed from 31st October 2020 to 31st December 2020.
