FY 19-20 ITR filing last date extended, Taxpayer Can File ITR till Jan 10, 2021

Direct Tax professionals had urged the Finance Minister Nirmala Sitharam to extend the last date for filing tax audit report and income tax returns.

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New Delhi: Good news for taxpayers. The last date to file Income Tax Return (ITR Filing FY19-20) for the financial year 2019-2020 (FY 19-20) has been extended. Now, individuals may file the ITR till January 10, 2021.

The last date for filing ITR for the assessment year 2020-21 was July 31, 2020, but was later extended till November 30 and again to December 31, 2020.

However, amidst the pandemic situation in the country, the government has now extended the last date till January 10, 2021. In view of the continued challenges faced by taxpayers in meeting statutory compliances due to outbreak of COVID-19, the government has further extended the dates for various compliances.

The due date for furnishing of Income Tax Returns for the other taxpayers (for whom the due date i.e. before the extension by the said notification) as per the Act was July 31, 2020, which has been extended to January 10, 2021.

The due date for furnishing of ITRs for the taxpayers (including their partners) who are required to get their accounts audited (for whom the due date as per the I-T Act is October 31, 2020) has been extended from January 31, 2021, to February 15, 2021.

Also, the due date for furnishing of ITRs for the taxpayers who are needed to furnish a report in respect of international/specified domestic transactions has been extended to February 15, 2021.

It may be noted that Direct Tax professionalism in the country had urged the Finance Minister Nirmala Sitharaman to extend the last date for filing tax audit report, income tax returns for audit cases. The due date of filing of income tax returns the assessment year 2020-21 in audit cases should be extended to March 31, 2021.

Professionals have said that due to the coronavirus pandemic, the normalcy in operations is yet to set in.

Under normal circumstances, the last date to take income tax benefits is till March 31 of the financial year. The government has also extended the last date for the issuance of Form 16 by employers to their employees.

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