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Missed Filing ITR for FY 2019-20 AY 2020-21? Now file Original and Revise Returns by 31 May 2021

Govt extends timelines of certain compliances, to mitigate the difficulties faced by taxpayers due to the ongoing COVID-19 pandemic. CBDT issues Circular No. 08/2021 dated 30.04.2021 u/s 119 of the IT Act

In view of severe pandemic, the Central Board of Direct Taxes, in exercise of its powers under Section 119 of the Income-tax Act, 1961, provides following relaxation in respect of Income-tax compliances by the taxpayers:

The income tax return (ITR) filing deadline for FY 2019-20 AY 2020-21 has been further extended to 31 May, 2021, for most individual taxpayers, from the earlier deadline

If the due date for filing the original return of income is missed, on can file a return later after the due date called a belated return for the FY 2019-20 on or before 31 March 2021. The time allowed to file is now extended to 31 May 2021

Press Release by Income Tax Department on 01 May 2021

Subject: Extension of time lines related to certain compliances by the Taxpayers under the Income-tax Act 1961

1 In view of severe pandemic, the Central Board of Direct Taxes, in exercise of its powers under Section 119 of the Income-tax Act, 1961, provides following relaxation in respect of Income-tax compliances by the taxpayers: a) Appeal to Commissioner (Appeals) under Chapter XX of the Income-tax Act,1961 for which the last date of filing under that Section is 1″ April 2.021 or thereafter may be filed within the time provided under that Section or by 31′ May 2021, whichever is later;

b) Objections to Dispute Resolution Panel (DRP) under Section 144C of the Income-tax Act,1961, for which the last date of filing under that Section is 1′ April 2021 or thereafter, may be filed within the time provided under that Section or by 31′ May 2021, whichever is later;

c) Income-tax return in response to notice under Section 148 of the Income-tax Act,1961, for which the last date of filing of return of income under the said notice is 1′ April 2021 or thereafter, may be filed within the time allowed under that notice or by 31″ May 2021, whichever is later;

d) Filing of belated return under sub-section (4) and revised return under sub-section (5) of Section 139 of the Income-tax Act.1961 for Assessment Year 2020-21, which was required to be filed on or before 31m March 2021, may be filed on or before 31′ May 2021;

e) Payment of tax deducted under Section 194-IA, Section 194-IB and Section 194M of the Income-tax Act,1961 and filing of challan-cum-statement for such tax deducted which are required to be paid and furnished by 30″1 April 2021 under Rule 30 of the Income-tax Rules, 1962, may be paid and furnished on or before 31″ May 2021;

Statement in Form No. 61, containing particulars of declarations received in Form No.60. which is due to be furnished on or before 30′ April 2021. may be furnished on or before 31′ May 2021.

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CBDT Extends Due date to file ITR FY 2018-19 to 30 September 2020

A Y 2019-20 FY 2018-19 Income Tax return due date further extended to 30 september 2020 from 31 July 2020 ( which was also extended date)

For AY 20-21, for Senior citizen not required to pay advance tax under section 207, any self assessment tax paid by pre extended due date ( 31 July 2020 in most cases) to be treated as advance tax. Thus after this payment if tax remaining to be paid is less than 1 lakh, no interest under 234A

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CBDT Revising ITR Form FY 2019-20 & Utilities to release on 30 May 2020, Sources Due date of ITR Filing may be Extended

CBDT revising return forms for FY 2019-20 AY 2020-21 to enable taxpayers avail benefits of timeline extension due to Covid-19 and provide Utilities by 30 May 2020

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In order to enable income taxpayers to avail full benefits of various timeline extensions granted by the Government of India due to Covid-19 pandemic situations, the CBDT is revising the return forms for FY 2019-20 (Assessment Year 2020-21) which shall be notified by the end of April 2020.

CBDT said that in order to facilitate taxpayer to avail full benefits with various timeline extension up to 30^th June 2020 granted by the government, it has initiated necessary changes in the return forms so that taxpayers could take benefits of their transactions carried out during the period from 1^st April 2020 to 30^th June 2020 in the return forms for FY 2019-20.

CBDT explained that the necessary modifications in the return forms are being made to allow taxpayers to avail the benefits of their investments/transactions made for the Apr-to-Jun 2020 period. Once the revised forms are notified, it will further necessitate the consequential changes in the software and return filing utility. Hence, the return filing utility after incorporating necessary changes shall be made available by 31^st May, 2020 to avail benefits for FY 2019-20.

CBDT said thatdue to outbreak of Covid-19, the Government has extended various timelinesunder the Income-tax Act,1961 vide Taxation and Other Laws (Relaxation of certain provisions) Ordinance, 2020. Accordingly, the time for making investment/ payments for claiming deduction under Chapter-VIA-B of IT Act which includes Section 80C (LIC, PPF, NSC etc.), 80D (Mediclaim),80G (Donations), etc. for FY 2019-20 has also been extended to 30^thJune 2020. Also, the dates for making investment/construction/purchase for claiming roll over benefit in respect of capital gains under sections 54 to section 54GB has also been extended to 30^th June 2020. Therefore return forms are being revised to facilitate reporting of the transactions of the relief period.

It may be noted that generally the income-tax return forms are notified in the first week of April. This year also the e-filing utility for filing of return for Assessment Year 2020-21 was made available as on 1st April, 2020, and the Income-tax Return (ITR) Forms ITR-1 (Sahaj) and ITR-4 (Sugam) for the FY 2019-20 (Assessment Year 2020-21),too, were already notified vide notification dated 3rd January, 2020. However, to ensure that the taxpayer is enabled to avail all benefits of the timeline extension due to Covid -19 pandemic, the Return Forms revision is being carried out.

End of Press Release

Conclusion

Every year the Forms and Utlities are released by 1st week of April or maxium by Second week. Based on the above press release the ITR Forms and Utilities will be available only by 31 May 2020 and as various investment link deduction date is extended till 30 June, there is major chances of Due date to file Income Tax Returns for Non Audit Cases like, Salaried Individual, Pension earners, Interest & Rent Earners, etc may be extended from 31 July 2020 to 30 September 2020, by the government due to the impact of the coronavirus lockdown

The TDS return due date has been extended by Ordinance to 30 June, so most employees will receive Form 16 by mid of July, making it impractical to file ITR before 31 July

Last year, the government had extended the last date for filing TDS returns for FY 2018-19 to June 30, 2019 and deadline to issue Form 16 to July 10, 2019. With the revision of Form for FY 2019-20 it becomes more certain that government has to provide more time to taxpayers to file returns.

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