There is a big relief news for those filing Income Tax Return. The government has extended the tax compliance and Income Tax Return deadline to May 31 for the financial year 2020, in view of the rising outbreak of the Corona epidemic. Taxpayers can also file Revised Return for FY 2020.
Income Tax Return, Tax compliance deadline increased
The Central Board of Direct Taxes– CBDT said that in view of the current situation of the Corona crisis, the government has decided to extend some important dates in view of the suggestions of taxpayers, tax consultants and other parties. CBDT said that many people had appealed for exemption in tax compliance. After this, the government extended the deadline for tax compliance to 31 May. This includes filing delayed or revised returns for the financial year 2019-20.
Delay till 31 May 2021
The CBDT said that the revised filing date for A. Y. 2020-21 was earlier 31 March 2021, which has been increased to 31 May 2021. Also, in cases where notice has been sent to taxpayers and they were granted till April 1 to answer it, they can now file reply to the notice by May 31. Similarly, any person can appeal to the commissioner till 31 May regarding income tax. The first deadline was 30 April.
DRP Objection Filing date extension
Similarly, the last date for filing objection before the DRP has also been increased from April 1 to May 31. The date of filing of objection to dismiss Dispute Resolution Panel under Section 144C has been extended till 31 May. The CBDT has also extended the tax deduction to be filed by April 30 under Sections 194-IA, 194-IB and 194M and the date of statement or invoice till May 31.
Due to Corono Crisis deadline extended
In fact, the second round of Corona transition in the country has created new difficulties for the people. Lockdown, partial lockdown and night curfew are in force in many states. Due to which the taxpayers were not able to file ITR for Assessment Year 2020-21. Many experts also believe that if the situation does not improve soon, then the date of May 31 may also have to be extended.