The Finance Ministry has announced an extension for several tax filing deadlines, including Income Tax Returns, Tax Audit Reports, and GST compliances. This decision comes after requests from five leading Chartered Accountant associations who highlighted the ongoing challenges faced by taxpayers and professionals due to the COVID-19 pandemic. The new dates aim to provide relief and allow more time for these crucial filings.
Update:
The Finance Ministry has extended the due dates for filing Income Tax Returns, Tax Audit Reports, and GST Compliances. The updated due dates are as follows:
1. INCOME TAX RETURN (For taxpayers who are required to get their accounts audited) - 15th February 2021
2. INCOME TAX RETURN (For taxpayers who are not required to get their accounts audited) - 10th January 2021
3. TAX AUDIT REPORTS - 15th January 2021
4. GST ANNUAL RETURN (FY 19-20) - 28th February 2021
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FAQ :
The deadlines for Income Tax Returns (for audited and non-audited accounts), Tax Audit Reports, and GST Annual Returns (for FY 19-20) have been extended.
For taxpayers requiring an audit, the new due date for Income Tax Returns is 15th February 2021. For those not requiring an audit, the new due date is 10th January 2021.
The deadline for filing Tax Audit Reports has been extended to 15th January 2021.
The due date for filing the GST Annual Return for the financial year 2019-2020 has been extended to 28th February 2021.
The request for extension was made by five leading CA associations: the Bombay Chartered Accountants' Society, Chartered Accountants Association Ahmedabad, Chartered Accountants Society Surat, Karnataka State Chartered Accountants Association, and Lucknow Chartered Accountants Society.
The extensions were requested due to the ongoing challenges and disruptions caused by the COVID-19 pandemic, which have made it difficult for taxpayers and professionals to meet the original deadlines.