Big relief for taxpayers: Deadline to file ITR increased by two months, now till November 30
ITR Filing Deadline: Deadline for filing income tax returns for assessment year 2019-20 has been extended for two months. Now the new deadline is 30 November 2020. For the third time in the Corona crisis, the deadline for ITR filing has been increased.
new Delhi. In view of the current state of the corona virus epidemic, the Central Board of Direct Taxes (CBDT) has today extended the deadline to file Income Tax Return for Assessment Year 2019-20 (AY 2019-20). The deadline for filling has now been increased from 30 September 2020 to 30 November 2020. Earlier, on 29 July, the deadline for filing ITR was extended till 30 September. Regarding raising the deadline for filing income tax returns. the CBDT has briefed issued a notification on Wednesday.
four times grew deadline
Let us tell you that for the fourth consecutive time, the deadline for filing income tax returns has been increased. The last date for filing income tax return was till 31 March 2020. However, it was then extended to 30 June. After this, the deadline was extended to 31 July for another month. For the third time also, the last date for filling ITR has been extended to 30 September 2020. Now according to the information given by the Income Tax Department, for the fourth time, it has been increased to 30 November.
After this, now the new deadline for filing the revised / revised income tax return for the financial year 2019-20 and for the financial year 2018-19 has become 30 November. Had the government not increased the deadline today, it would have created difficulties for those who have not yet filed income tax returns. It will also have to be noted that late fees of Rs 10,000 will also have to be paid for filing late ITR for the financial year 2018-19. However, if the total income remains below Rs 5 lakh, then the maximum late fee of Rs 1,000 will be collected.
If the bilated returns are called, then income tax returns for any financial year are filed after the deadline. Whereas, a person fills the revised income tax return, when he has forgotten to give any information before return. Generally, the revised returns are filled when there is a mistake in not claiming tax exemption or information about income or giving bank account information etc. The bilated ITR is filed under section 1394 of the Income Tax Act, 1961. Whereas, revised returns are filed under 1395.
The post Big relief for taxpayers: Deadline to file ITR increased by two months, now till November 30 appeared first on informalnewz.
Comments
Post a Comment