ITR Filing: Have You Filed Your Income Tax Return Yet? Keep These Due Dates In Mind

ITR Submitting: Have you ever filed your earnings tax return (ITR) for the monetary yr 2019-20? If not, you will need to keep in mind that you’ve till the top of this month to do it. The Revenue Tax Division had lately prolonged the due date for submitting the ITR, to simplify the tax-filing course of for assesses, amid the coronavirus disaster. Therefore, because of this the person taxpayers now have till the top of this yr to file their return of earnings, earned between April 1, 2019 and March 31, 2020, as an alternative of November 30. Often, the due date for submitting ITRs for all assessees whose accounts usually are not required to be audited is July 31. 

In view of constraints being confronted by taxpayers on account of COVID-19,CBDT additional extends due dates for numerous compliances for FY 2019-20:
The due dt of furnishing Revenue Tax Returns(ITRs)for taxpayers whose accounts require to be audited has been prolonged to thirty first, January,2021 (1/5) pic.twitter.com/cWWbXu80K9

— Revenue Tax India (@IncomeTaxIndia) October 24, 2020

Listed here are a couple of necessary dates to bear in mind for submitting your returns on earnings tax for this monetary yr.

Vital Due Dates For Submitting Revenue Tax Returns:

• The due date of furnishing the earnings tax returns for taxpayers whose accounts require to be audited has been prolonged to January 31, 2020 
• The due date for furnishing of assorted audit stories below the Act, together with the tax audit report and report in respect of worldwide/specified home transaction, is prolonged to December 31, 2020.
• The due date for the small taxpayers, or earnings tax assessees with tax legal responsibility as much as ₹ 1 lakh, is January 31, 2021.