The Income Tax Department on Wednesday extended the dates for furnishing returns in view of the problems confronted by taxpayers in conference statutory compliances because of to outbreak of COVID-19. The owing date for furnishing of cash flow tax returns for the fiscal yr 2020-21 for the taxpayers, who are demanded to get their accounts audited, and providers has been prolonged to February 15, 2021. For the other taxpayers, the deadline has been further more extended to January 10, 2021.
The because of day for furnishing of Earnings Tax Returns for the taxpayers who are required to furnish report in regard of global/specified domestic transactions has been even more extended to February 15, 2021.
In watch of the continued difficulties confronted by taxpayers in assembly statutory compliances owing to outbreak of COVID-19, the Govt further extends the dates for many compliances. Press launch on extension of time limitations issued now: pic.twitter.com/lMew09HXMq
— Profits Tax India (@IncomeTaxIndia) December 30, 2020
The day for furnishing of different audit reviews underneath, including tax audit report and report in regard of worldwide/specified domestic transaction has been more prolonged to January 15, 2021. The final date for earning a declaration below Vivad Se Vishwas Plan has been extended to January 31, 2021 from December 31, 2020.
The Government has also prolonged the because of date of furnishing of annual return beneath section 44 of the Central Items and Companies Tax Act, 2017 for the financial year 2019-20 from December 31, 2020 to February 28, 2021.