Income Tax Return Date Extend... Again

-- Saturday 7th November 2020
intax.in/005
Income Tax Return Extend Again, Now you can file return this year ITR as late as 31st Dec also for 19-20 A.Y. already Extended for 30st Nov. But that doesn't mean that you can't face fine, as you can face as........

Because of Covid-19 ?

Govt don't release important document to tax filing software that will file income tax online and in result their are file filing start 2 months late overall. And how can you file when end terminal is not working and XML schema is not clear(that is needed for any third party developer for create filing tool).

Only factor of this year delay seem to be Covid also due to economic hit govt like to wait for tax and let people pay tax. Even last year 19-20 A.Y. till 31 Nov you can file of-course with late fees and interest on tax Unless you earn less then 250000 then you don't have to pay any fine.(not applicable to those who file regular book in ITR)

If time of ITR last date not extended people don't have to time to file ITR as window of filing will be too short. Result of many people file return in short time and more then normal can face crash. For Solution Govt. Opt to increase window of ITR filing as many ITR return filing start very late.

Tweet by CBDT

Sure then I don't have to pay tax.

The Income Tax Date usually extend that is truly very common but don't feel like you don't have to pay tax as due date extended, If your tax liabilities is more then ₹10000 then you have pay advance tax and should clear your tax payment on 15 March or you have to pay the interest on delay. So if you are under this category pay your tax now. if you maintain and your regular account file income tax accordingly of you do deal with future and options then you have to file your income tax quarterly Check your ITR applicablity.

NOTE

Income Tax Refund taking very long most of people not getting refund after filing of tax return it not that Refund getting late never happen before but frequency of refund getting take this time is too much. Expect to get TDS refund in 2021. You can't do anything with it may be govt. give you some interest of time period. But not much possible anyway.