Income Tax Return filing: The Central Board of Direct Taxes (CBDT) has extended the last date for filing ITR for AY 2019-20 (FY 2018-19). The date has been extended from July 31 to September 30, 2020. In a tweet from its official handle, Income Tax department today said, “In view of the constraints due to the Covid pandemic & to further ease compliances for taxpayers, CBDT extends the due dt for filing of Income Tax Returns for FY 2018-19(AY 2019-20) from 31st July, 2020 to 30th September, 2020, vide Notification in S.O. 2512(E) dt 29th July, 2020.”
Taxes paid before the new extension will be treated as advance tax. An official notification of CBDT said: “in case of an individual resident in India referred to thes ub-section (2) of Section 207 of the Income Tax Act, 961 (43 of 19610, the tax paid by him under section 140A of that Act within the due date (before extension) provided in that Act, shall be deemed to the advance tax.”
In June, the CBDT had extended the deadline for filing I-T returns for FY2018-19 by a month till July 31, 2020. The due date for income tax return for the FY 2019-20 (AY 2020-21) was also extended to November 30, 2020. The CBDT had then said in a statement: “…the returns of income which are required to be filed by 31st July, 2020 and 31st October, 2020 can be filed upto 30th November, 2020. Consequently, the date for furnishing tax audit report has also been extended to 31st October, 2020.
Last month, the government had also extended the date for payment of self-assessment tax in the case of a taxpayer whose self-assessment tax liability wass up to Rs 1 lakh to 30th November, 2020. The CBDT had further clarified in June that there would be no extension of date for the payment of self-assessment tax for the taxpayers having self-assessment tax liability exceeding Rs. 1 lakh.