New Delhi: The Finance Ministry on Wednesday extended the last date for filing of income tax returns by ordinary taxpayers for the assessment year 2020-21 from December 31 to January 10, while extending the dates for others also for the third time.
On Wednesday, the social media was flooded with pleas for extension of the due date.
The due date for furnishing of Income Tax Returns for the Assessment Year 2020-21 by taxpayers, who are required to get their accounts audited and companies has been further extended to 15th February, 2021.
Earlier, with only two days left for the filing of IT returns, there was a scramble among taxpayers to put their papers in order. Some of them were facing difficulty in obtaining receipt of Aadhaar-based OTP for the purpose of e-verification of ITRs filed. The income tax department had put out a reassuring tweet saying it was discussing the matter with authorities.
It was further clarified by the department that, while filing of ITR is to be done within the stipulated period, the e-verification of ITR filed can/may be done with Aadhaar OTP or other options within 120 days from the date of filing of the ITR.
In order to verify the ITR using the Aadhaar-based one-time password (OTP), the candidate's mobile number should be linked to Aadhaar card and registered in the Unique Identification Authority of India (UIDAI) database. Apart from this, the PAN card must be linked with Aadhaar.
More than 4.54 crore Income Tax Returns for AY 2020-21 have already been filed. Yet, the income tax department was tweeting every hour reminding taxpayers about the deadline of December 31, 2020.
An extension has been also granted for furnishing of annual CGST returns for the financial year 2019-20 -- from December 31 to February 28, the announcement said.
To provide relief for the third time to small and middle class taxpayers in the matter of payment of self-assessment tax and whose liability is up to Rs 1 lakh, the deadline has been extended to January 10 in case of ordinary taxpayers and up to February 15 for others.
The due date for furnishing of Income Tax Returns for the Assessment Year 2020-21 by taxpayers, who are required to furnish report in respect of international/specified domestic transactions, has been further extended to 15th February, 2021.
The date for furnishing of various audit reports under the Act including tax audit report and report in respect of international/specified domestic transaction for the Assessment Year 2020-21 has been further extended to 15th January, 2021.
The last date for making a declaration under Vivad Se Vishwas Scheme has been extended to 31st January, 2021, from 31st December, 2020. The date for passing of orders under Vivad Se Vishwas Scheme, which are required to be passed by 30th January, 2021, has been extended to 31st January, 2021.
The date for passing of order or issuance of notice by the authorities under the Direct Taxes & Benami Acts which are required to be passed/ issued/ made by 30th March, 2021, has also been extended to 31st March, 2021.
