CBDT has extended the due date for furnishing of Income Tax Returns and Audit reports

Oct 26, 2020 | by Avantis RegTech Legal Research Team

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Finance & Taxation Compliance

The Central Board of Direct Taxes (CBDT) on October 24, 2020 has issued a press release for the extension of due date for furnishing of Income Tax Returns and Audit Reports. Due to various difficulties, the Board has decided to further extend the due dates as under: 

• For the furnishing of Income Tax Returns by the taxpayers who needs to get the audit done by October 31, 2020, the date has been further extended to January 31, 2021.

• For the taxpayers who were supposed to furnish the income tax returns for all the international/ specified domestic transactions and the date was November 30, 2020, the due date has been further extended to January 31, 2021.

• The due date for furnishing returns by the taxpayers whose due date was July 31, 2020 has been extended to December 31, 2020.

• Further, the due date for furnishing of audit reports in respect of international/ specified domestic transactions has further been extended to December 31, 2020.

• For the self-assessment liability taxpayers of up to 1 Lakhs, the due date has been extended to November 30, 2020.

• For the second time self-assessment tax liability taxpayers of up to 1 Lakhs, the due date has been extended to December 31, 2020.

 


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