• About Us
  • Advertise
  • Contact Us
  • DMCA
  • Follow on Google News
Sunday, May 18, 2025
  • Login
Tribune Newsline
  • Home
  • India
    • National
    • State News
  • Business
  • Education
  • Entertainment
  • Lifestyle
    • Health & Fitness
    • Fashion & Beauty
    • Travel
    • Photography
    • Food
  • Tech
    • App News
    • Gadgets
  • Auto
  • Sports
  • World
  • Others
    • Agriculture
    • Science
    • Astrology
    • Finance/Money
    • Social Work
    • Press Release
    • Religion
No Result
View All Result
  • Home
  • India
    • National
    • State News
  • Business
  • Education
  • Entertainment
  • Lifestyle
    • Health & Fitness
    • Fashion & Beauty
    • Travel
    • Photography
    • Food
  • Tech
    • App News
    • Gadgets
  • Auto
  • Sports
  • World
  • Others
    • Agriculture
    • Science
    • Astrology
    • Finance/Money
    • Social Work
    • Press Release
    • Religion
No Result
View All Result
Tribune Newsline
No Result
View All Result
Home Finance/Money

Extension of time limits for income tax returns

Tribune Newsline by Tribune Newsline
December 31, 2020
in Finance/Money
Share on FacebookShare on Twitter

In view of the challenges faced by taxpayers in meeting the statutory and regulatory compliances due to the outbreak of COVID-19, the Government brought the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 (‘the Ordinance’) on 31st March, 2020 which, inter alia, extended various time limits. The Ordinance has since been replaced by the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act.

The Government issued a Notification on 24th June, 2020 under the Ordinance which, inter alia, extended the due date for all Income Tax Returns for the FY 2019-20 (AY 2020-21) to 30th November, 2020. Hence, the returns of income which were required to be filed by 31st July, 2020 and 31st October, 2020 were required to be filed by 30th November, 2020.

Related posts

KGIL Fintech Solutions Pvt. Ltd. Launches SwipeLoan Making Digital Lending Easy Accessible For All

KGIL Fintech Solutions Pvt. Ltd. Launches SwipeLoan Making Digital Lending Easy Accessible For All

January 31, 2025
Fueling the Dreams of India’s MSMEs: RupeeBoss MSME Loans

Fueling the Dreams of India’s MSMEs: RupeeBoss MSME Loans

October 23, 2023

Consequently, the date for furnishing various audit reports including tax audit report under the Income-tax Act, 1961 (the Act) was also extended to 31st October, 2020.
In order to provide more time to taxpayers for furnishing of Income Tax Returns, the due date was further extended vide notification No 88/2020/F. No. 370142/35/2020-TPL dated 29th October, 2020:

(A) The due date for furnishing of Income Tax Returns for the taxpayers (including their partners) who are required to get their accounts audited [for whom the due date (i.e. before the said extension) as per the Act was 31st October, 2020] was extended to 31st January, 2021.

(B) The due date for furnishing of Income Tax Returns for the taxpayers who are required to furnish report in respect of international/specified domestic transactions [for whom the due date (i.e. before the said extension) as per the Act was 30th November, 2020] was extended to 31st January, 2021.

(C) The due date for furnishing of Income Tax Returns for the other taxpayers [for whom the due date (i.e. before the said extension) as per the Act was 31st July, 2020] was extended to 31st December, 2020.

(D) Consequently, the date for furnishing of various audit reports under the Act including tax audit report and report in respect of international/specified domestic transaction was also extended to 31st December, 2020.

Considering the problems being faced by the taxpayers, it has been decided to provide further time to the taxpayers for furnishing of Income Tax Returns, tax audit reports and declaration under Vivad Se Vishwas Scheme. Further, in order to provide more time to taxpayers to comply under various ongoing proceedings, the dates of completion of proceedings under various Direct Taxes &Benami Acts have also been extended.

These extensions are as under:
a) The due date for furnishing of Income Tax Returns for the Assessment Year 2020-21 for the taxpayers (including their partners) who are required to get their accounts audited and companies [for whom the due date, as per the provisions of section 139(1) of the Income-tax Act,1961, was 31st October, 2020 and which was extended to 30th November, 2020 and then to 31st January, 2021] has been further extended to 15th February, 2021.
b) The due date for furnishing of Income Tax Returns for the Assessment Year 2020-21 for the taxpayers who are required to furnish report in respect of international/specified domestic transactions [for whom the due date, as per the provisions of section 139(1) of the Income-tax Act,1961, was 30th November, 2020 and which was extended to 31st January, 2021] has been further extended to 15th February, 2021.
c) The due date for furnishing of Income Tax Returns for the Assessment Year 2020-21 for the other taxpayers [for whom the due date, as per the provisions of section 139(1) of the Income-tax Act, 1961, was 31st July, 2020 and which was extended to 30th November, 2020 and then to 31st December, 2020] has been further extended to 10th January, 2021.
d) 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.
e) The last date for making a declaration under Vivad Se Vishwas Scheme has been extended to 31st January, 2021 from 31st December, 2020.
f) 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.
g) 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.
h) Further, in order to provide relief for the third time to small and middle class taxpayers in the matter of payment of self-assessment tax, the due date for payment of self-assessment tax date is hereby again being extended. Accordingly, the due date for payment of self-assessment tax for taxpayers whose self-assessment tax liability is up to Rs. 1 lakh has been extended to 15th February, 2021 for the taxpayers mentioned in para 4(a) and para 4(b) and to 10th January, 2021 for the taxpayers mentioned in para 4(c).
The Government has also extended the due date of furnishing of annual return under section 44 of the Central Goods and Services Tax Act, 2017 for the financial year 2019-20 from 31st December, 2020 to 28th February, 2021.
The necessary notifications in this regard shall be issued in due course.
Tags: Income Tax Departmentincome tax returnsITR 2020
Previous Post

PM lays Foundation Stone of AIIMS at Rajkot

Next Post

PM chairs 34th PRAGATI interaction

Tribune Newsline

Tribune Newsline

Related Posts

KGIL Fintech Solutions Pvt. Ltd. Launches SwipeLoan Making Digital Lending Easy Accessible For All
Finance/Money

KGIL Fintech Solutions Pvt. Ltd. Launches SwipeLoan Making Digital Lending Easy Accessible For All

January 31, 2025
Fueling the Dreams of India’s MSMEs: RupeeBoss MSME Loans
Finance/Money

Fueling the Dreams of India’s MSMEs: RupeeBoss MSME Loans

October 23, 2023
Payment Aggregator Paysharp Private Limited gets ISO 27001 certification
Finance/Money

Payment Aggregator Paysharp Private Limited gets ISO 27001 certification

October 9, 2023
Alok Kumar Agarwal of Alankit talks about tax planning and its benefits
Finance/Money

Alok Kumar Agarwal of Alankit talks about tax planning and its benefits

July 17, 2023
Leveraging Technology for Manufacturing & Pharma Industry Growth: The Vision of Subodh Bajpai, India’s Funding Guru
Finance/Money

Leveraging Technology for Manufacturing & Pharma Industry Growth: The Vision of Subodh Bajpai, India’s Funding Guru

June 15, 2023
Univest collaborates with Pratik Gandhi to conquer retail investor challenges
Finance/Money

Univest collaborates with Pratik Gandhi to conquer retail investor challenges

January 10, 2023
Next Post

PM chairs 34th PRAGATI interaction

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

Anuj Tyagi – How a Chartered Accountant gave up his desk job to become a full-time Content Creator and Fitness Professional

4 years ago

Nature-inspired technique to help turn seawater into freshwater

3 years ago
Press Conference of Dadasaheb Phalke International Film Festival Awards 2022

Press Conference of Dadasaheb Phalke International Film Festival Awards 2022

3 years ago

ZingHR now enters aggressively into the Indian SMB HRMS market with their new vertical ZingNeo

4 years ago
A “Path Showing” Conclave for Real Estate Industry by V21 Group at Pune

A “Path Showing” Conclave for Real Estate Industry by V21 Group at Pune

2 years ago
Vairat Marathi Film Title Song Released Featuring Bollywood Actor Shantanu Bhamare, Giri S Raj & Balasaheb Bangar!

Vairat Marathi Film Title Song Released Featuring Bollywood Actor Shantanu Bhamare, Giri S Raj & Balasaheb Bangar!

6 months ago

BROWSE BY CATEGORIES

  • Agriculture
  • App News
  • Astrology
  • Auto
  • Business
  • Education
  • Entertainment
  • Fashion & Beauty
  • Finance/Money
  • Food
  • Gadgets
  • Health & Fitness
  • Lifestyle
  • National
  • Photography
  • Politics
  • Press Release
  • Religion
  • Science
  • Social Work
  • Sports
  • State News
  • Tech
  • Travel
  • Uncategorized
  • World

BROWSE BY TOPICS

Ace Entrepreneur actor Artificial intelligence Bengaluru Blockchain technology COVID-19 Cryptocurrency CSIR DBT Delhi Department of Biotechnology digital marketing DST Dubai Education entrepreneur Fairplay Gujarat Gurugram Hyderabad IIT Delhi Indian Institute of Technology Influencer Influencerquipo innovation Kingston Technology K Raheja Corp Homes LANXESS memory products and technology solutions model MoES Mumbai Music Industry producer Pune real estate research science Shan Se Entertainment Shantanu Bhamare Social Activist social media Surat technology solutions Urvashi Rautela

Latest News

Aveya IVF & Fertility Center: Pioneering Accessible Parenthood with Fertility Solutions

Aveya IVF & Fertility Center: Pioneering Accessible Parenthood with Fertility Solutions

May 14, 2025
The Rise of Skill-Based Learning: Redefining Education for the 21st Century

The Rise of Skill-Based Learning: Redefining Education for the 21st Century

May 14, 2025
Krishiyug Inovatives Pvt. Ltd.: Where Ancient Farming Wisdom Meets Rural Empowerment

Krishiyug Inovatives Pvt. Ltd.: Where Ancient Farming Wisdom Meets Rural Empowerment

May 14, 2025
Rice Over Bread: How Lenexis Foodworks Captured India’s Chinese Food Market

Rice Over Bread: How Lenexis Foodworks Captured India’s Chinese Food Market

May 14, 2025
Jahangir Tutorials: Bridging the Language Gap for South Indian Commerce Aspirants

Jahangir Tutorials: Bridging the Language Gap for South Indian Commerce Aspirants

May 13, 2025

Popular News

  • IIT Delhi launches new online platform to facilitate researchers

    59 shares
    Share 24 Tweet 15
  • Bonding well with your in-laws

    55 shares
    Share 22 Tweet 14
  • Decimal Point Analytics (DPA) with 400 candidates, targets for 4000-Mega job and Career Opportunities

    54 shares
    Share 22 Tweet 14
  • Euro Pratik set to revolutionise Indian interiors market

    53 shares
    Share 21 Tweet 13
  • Young Indian stunt performer winning heart of Dubai’s people – Narsimha Chouhan (Nattu)

    53 shares
    Share 21 Tweet 13
  • Creating waves in the online education sector, enter JOTOBOTO

    53 shares
    Share 21 Tweet 13
  • Jasmin Bhasin on the Cover Page of The Lifestyle Journalist Magazine

    52 shares
    Share 21 Tweet 13

Tribune Newsline, digital news and story platform bring you the news, articles, stories, and opinions on the latest happenings worldwide covering various sectors like nation, politics, and governance, social sector, review, foreign affairs, defence and security, latest review, lifestyle, entertainment, sports, technology, auto sectors, education, business and start-ups updates, Agriculture, Science, finance, money, food, and culture, etc.

Follow us on social media:

Latest News

  • Aveya IVF & Fertility Center: Pioneering Accessible Parenthood with Fertility Solutions
  • The Rise of Skill-Based Learning: Redefining Education for the 21st Century
  • Krishiyug Inovatives Pvt. Ltd.: Where Ancient Farming Wisdom Meets Rural Empowerment
  • Rice Over Bread: How Lenexis Foodworks Captured India’s Chinese Food Market
  • Jahangir Tutorials: Bridging the Language Gap for South Indian Commerce Aspirants
  • Pahia: A Mohali-Based Startup Empowering Street Vendors with Technology

Category

May 2025
M T W T F S S
 1234
567891011
12131415161718
19202122232425
262728293031  
« Apr    

Recent News

Aveya IVF & Fertility Center: Pioneering Accessible Parenthood with Fertility Solutions

Aveya IVF & Fertility Center: Pioneering Accessible Parenthood with Fertility Solutions

May 14, 2025
The Rise of Skill-Based Learning: Redefining Education for the 21st Century

The Rise of Skill-Based Learning: Redefining Education for the 21st Century

May 14, 2025
  • About Us
  • Advertise
  • Contact Us
  • DMCA
  • Follow on Google News

© 2022 Tribune Newsline.

No Result
View All Result
  • About Us
  • Advertise
  • Contact Us
  • DMCA
  • Home
  • Privacy Policy

© 2022 Tribune Newsline.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In