New Delhi: The central government has increased the deadline for filing Income Tax returns. The last date for filing the first ITR was 31 December 2020. However, now the Income Tax Department has informed that the last date to file ITR for the financial year 2019-2020 is 10 January 2021.
The Income Tax Department said on Wednesday that keeping in mind the coronavirus epidemic, the last date for submission of annual returns for the financial year 2019-20 has been fixed as 10 January 2021. This decision has been taken under the Central Goods and Services Tax Act, 2017.
In a tweet about this, the department said that due to the Covid-19 outbreak, taxpayers are facing challenges in complying with the rules. Keeping this in mind, the government has decided to pursue some deadlines.
Rs 1.56 lakh crore tax refund issued
Explain that between April 1 and December 27, 2020, the Central Board of Direct Taxes has issued a return of Rs 1,56,624 crore to a total of 1.33 crore taxpayers. A return of Rs 50,554 crore has been issued in 1,31,11,050 cases. While a corporate tax refund of Rs 1,06,069 crore has been issued in 2,03,334 cases.
Settle old tax dispute by 31 January
Apart from this, the deadline for submitting tax audit reports and report regarding international/domestic transactions has also been extended till 15 January 2021. The last date for a declaration under the ‘Vivid use Vishwas Scheme’ has also been increased from 31 December 2020 to 31 January 2021
