The income tax department on Wednesday further extended the deadline for income tax filing by 10 days to January 10. This has been done in the view of the challenges faced by taxpayers in meeting the “statutory and regulatory compliances” due to the outbreak of Covid-19, the department said.
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The first deadline for filing the ITR was on July 31 which was extended to November 30, which for the second time got extended to December 30.
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This is the third extension in this year. However, this is for taxpayers without requiring audit. For others, there have been separate extensions.
> The deadline for furnishing ITR details for taxpayers who are required to get their accounts audited has been extended to February 15, 2021. The original deadline of October 31, which got extended to November 30 and then to January 31, 2021, respectively.
> Taxpayers who are required to furnish report in respect of international/specified domestic transaction will now have to file their ITRs by February 15. The earlier deadline was November 30, which got extended to January 31.
> The date for furnishing of various audit reports under the Act including tax audit report and report in respect of international/specified domestic transaction for assessment year 2020-21 has been extended to January 15, 2021.
> The last date for making a declaration under Vivad se Vishwas scheme has been extended to January 31, 2021 from December 21, 2020.
To provide relief to small and middle class taxpayers in the matter of payment of self-assessment tax, the due date for payment of self-assessment tax has also been extended.
For those whose self-assessment tax liability is up to Rs 1 lakh, the deadline has been extended to February 15, 2021.
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