Amid a lot of chaos due to the pandemic, income tax department on various occasions have extended the deadline to file ITR. So, as the year comes to an end, here is a review of the likely deadline for ITR filing that one needs to take note of:
Taxpayers whose accounts are not to be audited:
For FY 2020 i.e. Assessment year, the last date to file the ITR is December 31, 2020. In a usual case, the deadline is July 31. And this was extended previously to November 30, 2020.
For taxpayers whose accounts are to be audited:
The due date for such taxpayers the deadline is January 31, 2021. "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", said the department.
For submission of various audit reports:
The deadline is January 31, 2020, the department said, The due date for furnishing various audit reports under the Act, including tax audit report and report in respect of international/specified domestic transaction, has been extended to January 31, 2021.
For small tax assessees with income tax liability of up to Rs. 1 lakh, the deadline is January 31, 2021.