EconomicsEnglishImportant StoriesNATIONAL

IT Return Filling Time Limit Extended by One Month till December 31

NEW DELHI, Oct 24: The deadline for filing returns for individual taxpayers for financial year 2019-20 has been extended by one month till December 31, 2020, the Union finance ministry said on Saturday.

The date for furnishing audit reports, which includes tax audit report and report in respect of international or specified domestic transaction, has also been extended to December 31, the Central Board of Direct Taxes (CBDT) said. CBDT added that the date for payment of self-assessment tax for those with self-assessment tax liability of up to Rs 1 lakh is extended to January 31, 2021.

Meanwhile, the due date for furnishing of income tax returns for taxpayers (including their partners) required to getting their accounts audited and for whom the due date, which is before the extension by new notification according to the Income Tax Act was October 31, 2020, has been extended to January 31, 2021, CBDT said.

The Central Board of Indirect Taxes and Customs (CBIC) on Saturday mentioned that it has been decided to extend the due date for filing Annual Return (FORM GSTR-9/GSTR-9A) and the Reconciliation Statement (FORM GSTR-9C) for financial year 2018-19 from October 31, to December 31, 2020.

(Manas Dasgupta)