The government has extended the due date to file income tax returns till January 31, 2021, for taxpayers who have to get their accounts audited and those that are required to furnish reports of international or specified domestic transactions. The due date for payment of self-assessment tax in case where the liability is below ₹1 lakh has also been extended by two months to January 31, 2021.
The deadline for tax audit report and report in respect of international or specified domestic transactions has also been extended by two months till December 31, the Central Board of Direct Taxes said on Saturday. For others, the due date of filing income tax returns and payment of self-assessment tax has been extended by one month till December 31. The earlier date for filing returns was July 31, which was extended to November 30.
Experts said the extension would provide some headroom for taxpayers facing issues due to the pandemic.
The Central Board of Indirect Taxes and Customs extended the due dates for filing annual return and reconciliation statements under GST for 2018-19 by two months to December 31, 2020.