New Delhi: By providing more relief to millions of individual taxpayers, the Finance Ministry on Saturday extended the deadline to file individual taxpayer returns for the 2019-20 fiscal year by one month until December 31.
For those taxpayers whose accounts need to be audited, the deadline for filing the income tax return has been extended by two months until January 31, 2021, the Finance Ministry said in a statement Saturday.
It should be noted that in May the government extended the date to file ITR for fiscal year 2019-20 from July 31 to November 30, to provide compliance relief to taxpayers.
In a statement, the Central Board of Direct Taxes (CBDT) said: “The due date for filing income tax returns for taxpayers [for whom the due date (i.E. Before the extension by the said notification) as per the Act was July 31, 2020] it has been extended until December 31, 2020. “
The expiration date for the supply of ITR for taxpayers, who must audit their accounts (for whom the expiration date according to the IT Law is October 31, 2020), has been extended to January 31, 2021, he added .
The CBDT said the deadlines have been extended in order to “give taxpayers more time to file income tax returns.”
Meanwhile, the Income Tax Department has published an extensive instruction manual spanning hundreds of pages for completing tax returns for the 2020-21 tax year.
The Income Tax Department has issued a detailed step-by-step calculator for filing tax returns that will be filed under different headings.
These instructions are guidelines to help taxpayers complete the details on Form 1 income tax return for the 2020-21 assessment year related to the 2019-2020 financial year.
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