According to the government press release issued on November 24, 2020, “In order to allow more time for taxpayers to file their ITR, it has been decided to further extend the due date for filing Tax Returns on the rent as indicated in:
The due date for filing the income tax returns of these individual taxpayers. [for whom the due date (i.e. before the extension by the said notification dated June 24, 2020 as per the Act was 31st July, 2020] It has been extended until December 31, 2020.
The due date for filing income tax returns for taxpayers (including their partners) who must audit their accounts. [for whom the due date (i.e. before the extension by the said notification dated June 24, 2020) as per the Act is 31st October, 2020] has been extended until January 31, 2021.
The due date for filing income tax returns for taxpayers who are required to file a report regarding specified international / domestic transactions. [for whom the due date (i.e. before the extension by the said notification dated June 24, 2020) as per the Act is 30th November, 2020] has been extended until January 31, 2021.
Accordingly, the date for the submission of various audit reports under the Act, including the tax audit report and the report with respect to international / specified domestic transactions, has also been extended to December 31, 2020, as per the press release.
In addition, relief is provided to middle and small class taxpayers in terms of payment of the self-assessment tax, hereby again extending the due date for the payment of the self-assessment tax. Consequently, the due date for payment of the self-assessment tax for taxpayers whose self-assessment tax liability is up to Rs. 1 lakh has been extended to January 31, 2021 for taxpayers whose accounts are to be audited and or to December 31, 2020 for taxpayers whose accounts are not to be audited. ”
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