New Delhi: In view of the coronavirus pandemic, the Ministry of Finance announced on Wednesday the extension of several tax compliance deadlines.
The due date for filing the annual return under the Central Goods and Services Tax Act of 2017 for the 2019-20 financial year has been extended to February 28, the Income Tax Department said.
The due date for the filing of income tax returns by individual taxpayers for fiscal year 20 has been extended to January 10, 2021 as of December 31, 2020.
The deadline for filing income tax returns for 2019-20 by companies has been extended by 15 days until February 15, 2021.
“In view of the continuing challenges that taxpayers face in complying with legal compliance due to the Covid-19 outbreak, the government is further extending the dates for various compliance,” the IT Department said in a tweet.
The due date for filing income tax returns for the 2020-21 assessment year for taxpayers (including their partners) who must audit their accounts has been extended to February 15, 2021.
The last date for the declaration under the Vivad Se Vishwas scheme has been extended to January 31, 2021 from December 31, 2020
The Central Board of Direct Taxes (CBDT) issued refunds of more than ₹Rs 1.56.624 crore to more than Rs 1.33 crore payers between April 1 and December 27, 2020.
The tweet from the Indian Income Tax Department added that Income Tax refunds from ₹Rs 50,554 crore has been issued in 1,31,11,050 cases and corporate tax refunds of ₹Rs 1.06.069 crore has been issued in 2.03.334 cases.
The IT Department said Wednesday that more than 4.54 crore of tax returns have been filed for the 2019-20 fiscal year through Dec. 29.
In the comparable period last year, income tax returns of Rs 4.77 million were filed. At the close of the deadline to file ITR without payment of late fees for fiscal year 2018-19 (assessment year (AY) 2019-20), taxpayers filed returns of more than 5.65 million rupees.
.
