New Delhi: Giving further relief to millions of individual taxpayers, the Finance Ministry on Saturday extended the deadline for filing personal taxpayer income for the 2019-20 financial year to December 31 by one month.
For taxpayers who have to audit their accounts, the deadline for filing income tax returns has been extended by two months to January 31, 2021, the finance ministry said in a statement on Saturday.
In order to provide compliance relief to the taxpayers, the IDR It may be noted that the Government has extended the deadline for filing the petition from July 31 to November 30 in May.
In a statement, the Central Board of Direct Taxes (CPDT) said, “The exact date for payment of income tax return to taxpayers. [for whom the due date (i.E. Before the extension by the said notification) as per the Act was July 31, 2020] Extended until December 31, 2020. “
The due date for issuance of IDR to the taxpayer has been extended to 31st January 2021, as they are required to audit the accounts (31st October 2020 as per IT Act).
The CPDT said the deadline has been extended “to give taxpayers more time to file income tax returns”.
Meanwhile, the Income Tax Department has released a lengthy instruction manual that runs on hundreds of pages to supplement tax returns for the 2020-21 assessment year.
The Income Tax Department has issued a detailed step by step accountant for filing tax returns to be filed under different taxes.
These guidelines are guidelines for taxpayers to fill in the details in Income Tax Revenue Form-1 for the assessment year 2020-21 relating to the financial year 2019-2020.