Notification No. 88/2020 [F. No. 370142/35/2020-TPL] / SO 3906(E)

Last updated: 31 October 2020

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This notification extends the deadline for furnishing income tax returns for the assessment year commencing 1st April 2020. For assessees under clauses (a) and (aa) of Explanation 2 to section 139(1), the deadline is extended to 31st January 2021. For all other assessees, the deadline is extended to 31st December 2020. Additionally, the time limit for furnishing audit reports under the Income-tax Act, 1961, has also been extended to 31st December 2020.

MINISTRY OF FINANCE

(Department of Revenue)

(CENTRAL BOARD OF DIRECT TAXES)

NOTIFICATION

New Delhi, the 29th October, 2020

TAXATION AND OTHER LAWS

S.O. 3906(E).—In exercise of the powers conferred by sub-section (1) of section 3 of the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 (38 of 2020) (hereinafter referred to as the Act), the Central Government hereby specifies, for the purpose of the said sub-section (1), that, in a case where the specified Act is the Income-tax Act, 1961 and the compliance for the assessment year commencing on the 1st day of April, 2020, relates to -

(i) furnishing of return under section 139 thereof, the time-limit for furnishing of such return, shall -

(a) in respect of the assessees referred to in clauses (a) and (aa) of Explanation 2 to sub-section (1) of the said section 139, stand extended to the 31st day of January, 2021; and

(b) in respect of other assessees, stand extended to the 31st day of December, 2020: Provided that the provisions of the fourth proviso to sub-section (1) of the Act shall, mutatis mutandis apply to these extensions of due date, as they apply to the date referred to in sub-clause (b) of clause (i) of the third proviso thereof.

(ii) furnishing of report of audit under any provision of that Act, the time-limit for furnishing of such report of audit shall stand extended to the 31st day of December, 2020.

2. This notification shall come into force from the date of its publication in the Official Gazette.

[Notification No. 88/2020/ F. No. 370142/35/2020-TPL]

NIRAJ KUMAR, Dy. Secy. (Tax Policy and Legislation Division)

FAQ :

For assessees referred to in clauses (a) and (aa) of Explanation 2 to sub-section (1) of section 139, the time-limit for furnishing the return has been extended to the 31st day of January, 2021.

For other assessees not covered by the specific clauses mentioned, the time-limit for furnishing the income tax return has been extended to the 31st day of December, 2020.

Yes, the time-limit for furnishing audit reports under any provision of the Income-tax Act, 1961, has been extended to the 31st day of December, 2020.

This notification applies to compliance for the assessment year commencing on the 1st day of April, 2020.

This notification comes into force from the date of its publication in the Official Gazette.