The government on Wednesday extended the dates for filing income tax returns to January 10 from December 31 for individual tax payers and the date for filing tax return by companies has been extended to February 15, 2021. The decision to extend the deadline was taken in view of the challenges faced by taxpayers in meeting statutory compliances due to Covid-19 outbreak.
The deadline for filing income tax return for individuals had been extended to December 31 from the previous November 30 deadline, which was an extension from the usual July 31 limit.
Additionally, to provide relief to small and middleclass taxpayers, the due date for payment of self-assessment tax has been extended to February 15, 2021.
The government has also extended the due date for filing annual return for the financial year 2019-20 under the Central Goods and Services Tax Act, 2017, to February 28.
Notably, this is the third time the government extended the deadline for filing ITR for Fiscal Year 20. The deadline was first extended from July 31 to November 30 and then to December 31, 2020.
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