Last updated: September 1st, 2021 8:50 AM

Extension of Due Date for Furnishing Income Tax Returns and Audit Reports

Because of constraints being faced by the taxpayers due to COVID-19, the Central Board of Direct Taxation (CBDT) further extends the due dates for filing income tax returns and tax audit reports for the financial year 2019- 2020. As per the Government’s press release issued on October 24, 2020, the income tax return (ITR) filing deadline for FY 2019-2020 has been extended to December 31, 2020, from the earlier deadline of November 30, 2020. The current article briefs the Extension of the due date of furnishing of Income Tax Returns and Audit Reports. Know more about the Income Tax (22^nd Amendment) Rules 2020

Synopsis of Notification

The Synopsis of Extension of the due date of furnishing of Income Tax Returns and Audit Reports is as follows:

• The due date for furnishing the Tax Audit Report by two months to 31st December 2020 from 31st October 2020
• The due date for filing of Income tax returns (ITRs) for all the assesses having tax audit requirement from 30th November to 31st January 2021 for the Assessment Year 2020-2021
• For those having no tax audit requirement, the date is extended by one month from 30th November 2020 to 31st December 2020

Earlier Extension

Normally, the income tax return for non-tax audit assesses is due on the 31st of July. This assessment year (FY 2019-2020), the income tax due date was extended wide a Notification on 24th June 2020 under the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 which, inter alia, extended the due date for all Income Tax Returns for the financial year 2019-2020 (AY 2020-2021) to 30th November 2020. Hence, the income tax returns which were required to be filed by 31st July 2020 and 31st October 2020 are required to be filed by 30th November 2020. Consequently, the date for furnishing various audit reports including tax audit reports under the Income-tax Act, 1961 has also been extended to 31st October 2020.

Due Date for Furnishing Income Tax Returns

To provide more time to taxpayers for furnishing of Income Tax Returns, The Government of India has decided the extend the due date for filing Income Tax return as under:

For Taxpayers Subject to Tax Audit

The due date for furnishing of Income Tax Returns for the taxpayers (including their partners) who are required to get their accounts audited has been extended to 30.01.2021 from the prescribed due date of 31.10.2020 under section 139(1) of Income Tax Act.

For taxpayers having international/ specified domestic transactions

The due date for furnishing of Income Tax Returns for the taxpayers who are required to furnish a report in respect of international/specified domestic transactions has been extended to 31st January 2021 from the prescribed due date of 30th November 2020 under section 139(1) of Income Tax Act.

For taxpayers not subject to Tax Audit (Individuals, HUF, etc.)

The due date for furnishing of Income Tax Returns for taxpayers not subject to Tax Audit (Individuals, HUF, etc.) has been extended to 31st December 2020 from the prescribed due date of 31st July 2020 under section 139(1) of the Income Tax Act. The final extended due dates for various categories of taxpayers for furnishing tax audit report and ITR forms for AY 2020-2021 is given below:

Sl.No	Taxpayers	Due Date prescribed under Section 139(1)	Extended Due Date
1	For taxpayers subject to Tax Audit
	Tax Audit Report	30.09.2020	31.12.2020
	ITR Forms	31.10.2020	31.01.2021
2	For taxpayers Not subject to Tax Audit (Individuals, HUF, etc.)	31.07.2020	31.12.2020
3	For taxpayers having international/ specified domestic transactions
	Tax Audit Report	31.10.2020	31.12.2020
	ITR Forms	30.11.2020	31.01.2021

Extension of the due date of furnishing of Audit Reports

With this notification, the due date for furnishing of various audit reports under the Income Tax Act including tax audit report and report in respect of international/specified domestic transaction has also been extended to 31st December 2020.

Due date Extension for Small and Middle-Class Taxpayers

To provide relief to small and middle-class taxpayers, the CBDT had also extended the due date for payment of self-assessment tax for the taxpayers whose self-assessment tax liability is up to Rs. 1 lakh vide a notification dated 24th June 2020. Accordingly, the due date for payment of self-assessment tax for the taxpayers who are not required to get their accounts audited was extended from 31.07.2020 to 30.11.2020 and for the auditable cases, this due date was extended from 31.10.2020 to 30.11.2020. To provide relief for the second time to small and middle-class taxpayers in the matter of payment of self-assessment tax, the due date for payment of self-assessment tax date again being extended. Accordingly, the due date for payment of self-assessment tax for taxpayers whose self-assessment tax liability is up to Rs. 1 lakh has been extended.

• The due date is extended to 31.01.20201 for taxpayers subject to Tax Audit is extended for taxpayers having international/ specified domestic transactions
• The due date is extended to 31.12.2020 for other taxpayers (Taxpayer not subject to Tax Audit)

The notification pertaining to the Extension of the Due Date for Furnishing Income Tax Returns and Audit Reports is as follows:

Note: The CBDT also notified that the necessary notification regarding extension of the due date of furnishing of Income Tax Returns and Audit Reports will be issued in due course.