The Central Government has issued the notifications for extension of the ITR filing date. In this article, we will discuss CBDT extends due date for filing Tax Audit Report for FY 2019-20.
Let’s summaries the Notifications issued:-
The Central Government has issued for the income tax return (ITR) filing deadline for FY 2019-20, which has been extended to December 31, 2020, for most individual taxpayers, from the earlier deadline is October 30, 2020. This the second time for an increase of due date for filing Income Tax Audit Report for FY 2019-20.
Why CBDT Extends due date For Filing ITR Audit Report
After multiple delegations to the government eventually, CBDT has extended the due date for furnishing the Tax Audit Report by 2 months to 31st December 2020 from 31st October 2020 and the due date for filing of Income tax returns (ITRs) for all the assessees having tax audit terms from 30th November to 31st January 2021 for the Assessment Year 2020-21.
For those having no tax audit terms, the date is extended by one month from 30th November 2020 to 31st December 2020. Also, the portal for ITR filing enables taxpayers to file their Income Tax Return Filing online hassle-free. Before this, the due date for furnishing of income tax returns for these individual taxpayers was November 30, 2020.
Measures to file ITR Audit Report for FY 2019-20
There has been decided to further extend the due date for furnishing of Income-Tax Returns as under:
- CBDT declared that the due date for furnishing of Income Tax Returns for the taxpayers who are obligated to get their accounts audited has been extended to 31st January 2021 from the prescribed due date of 31st October 2020
- Also, CBDT extends due date for filing Tax Audit Report for FY 2019-20. The due date for furnishing of Income Tax Returns for the other taxpayers due date has been extended to 31st December 2020 from the designated due date of 31st July 2020.
- The due date for Income Tax Returns for the taxpayers who are obligated to furnish a report regarding international/specified domestic transactions has been extended to 31st January 2021 from the designated due date of 30th November 2020.
If you require any other guidance concerning ITR Filing, please feel free to contact our business advisors at 8881-069-069.
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