ITR deadline for FY 2019-20 ( AY 2020-21) extended again

Income Tax Return Due Date For FY 2019-20- For every financial year, the due date of ITR for the non-audited assessee is 31st July and for the audited assessee, it is 31st October of the following year. For the financial year 2019-20, the government has extended the due dates of ITR 2 times, the same details are given here.

Income Tax Return Due Date For FY 2019-20

First time extension- Due to the COVID-19 situation in the country, the government via a press release dated June 24, 2020, announced that the Income Tax Return (ITR) filing deadline for the assessment year 2020-21 (Financial Year 2019-20) has been extended to 30th November 2020.

Second time extension- In a major relief to taxpayers, the Central Board of Direct Taxes (CBDT) on 24th October 2020 further extended the deadlines for filing of ITR (non-audited assessee)for FY 2019-20 (AY 2020-21) by a month till 31st December.

and for taxpayers whose accounts need to be audited, The ITR Filing deadline has been extended by two months i.e. till 31st January 2021

Third Time extension- Read Full Article Here (30th December 2020)

Also Read- Assessment Year 2021-22: Due Date of Income Tax Return Filing

Income Tax Return Due Date For FY 2019-20 can be summarized with chart as under

ParticularsYear/MonthOriginal Due dateExtended Due date
Income Tax Return- Non Audited assesseeFY 2019-20
(AY 2020-21)
31.07.202010.01.2021
Income Tax Return- Audited assesseeFY 2019-20
(AY 2020-21)
31.10.202015.02.2021

Penalty for Late Filing of ITR

As mentioned above, Income Tax Return Due Date For FY 2019-20 has been extended. Still if you not file your Income Tax Return in time then the Income Tax Department will penalize you and imposed a fee and Interest for the late filing of ITR.

The Complete details of Penalty can be read in below article-

Read Here- Penalty For Late Filing of ITR for AY 2020-21

Who is required to file Income Tax Return

Under Income Tax any person can file his Income Tax Return, even if his income is below taxable, but Income Tax Act prescribes a list of the person who is mandatorily required to file his Income Tax Return. Here you can read the list of persons who are mandatorily required to file his Income Tax Return.

Read Here- Who is required to file Income Tax Return- ITR Filing Eligibility

Benefits of Filing ITR

Even though filing of ITR is not mandatory for all the individuals but if you file your Income Tax Return there are certain benefits which one can avail. All the benefits you can read in the below-menioned article.

Read Here- Benefits of Filing ITR- File your ITR to get these benefits

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Disclaimer: The information contained in the above article are solely for informational purpose after exercising due care. However, it does not constitute professional advice or a formal recommendation. The author does not own any responsibility for any loss or damage caused to any person, directly or indirectly, for any action taken on the basis of the above article.

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Compiled by- CA Chirag Agarwal (Practicing Chartered Accountants)

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