Most individual taxpayers, who were previously required to file their returns by December 31, have been given another 10 days until January 10 to meet the legal requirement, for which the original deadline was December 31. July.
The deadline for making statements under the ‘Vivad se Vishwas’ scheme was also extended to January 31. Additionally, IT returns for tax audit evaluators can be submitted until February 15.
In light of the ongoing challenges taxpayers face in meeting legal requirements due to the COVID-19 outbreak… https://t.co/sabAefM1qe
– India Income Tax (@IncomeTaxIndia) 1609331632000
There is also a relaxation for GST with an extension granted to file the returns for fiscal year 20 until February 28. But the deadline for fiscal year 19 ends on Thursday, added CA Vinod Jain.
Government sources sought to portray the extension as an example of the Center’s response to the requirements, noting that the additional time granted was much greater than that offered in other countries. Although the United States had offered a six-month extension, other countries such as Singapore and Canada were less liberal.
On Wednesday, about 16.7 lakh of returns were filed, according to data released by the IT department as people rushed to meet Thursday’s deadline.
As of Wednesday night, returns of more than 4.5 million rupees had been filed, which was 5% lower than the comparable number for 2019. The government announced the relaxation on Wednesday night, with only one day left for statements are submitted.
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