te Good news for Income Taxpayers! CBDT extends last date for filing belated ITR to September 30 | Zee Business

Good news for Income Taxpayers! CBDT extends last date for filing belated ITR to September 30

In what comes as a good news for the income taxpayers, the Central Board of Direct Taxes (CBDT) has extended the last date for filing belated Income Tax Return (ITR) for the financial year 2018-19 (AY2019-20). The date has been extended from July 31 to September 30, 2020.

Good news for Income Taxpayers! CBDT extends last date for filing belated ITR to September 30
The date has been extended from July 31 to September 30, 2020. Source - PTI.

In what comes as a good news for the income taxpayers, the Central Board of Direct Taxes (CBDT) has extended the last date for filing belated Income Tax Return (ITR) for the financial year 2018-19 (AY2019-20). The date has been extended from July 31 to September 30, 2020. This comes as a relief for those who were yet to file the belated ITR and were probably looking at paying big penalties. 

“In view of the constraints due to the Covid pandemic & to further ease compliances for taxpayers, CBDT extends the due dt for filing of Income Tax Returns for FY 2018-19(AY 2019-20) from 31st July, 2020 to 30th September, 2020, vide Notification in S.O. 2512(E) dt 29th July, 2020,” the income tax department said in a new tweet.  

Prior to this, the government had extended the deadline to file belated income tax return (ITR) for FY 2018-19 twice. First, from the original deadline of March 31, 2020 to June 30, 2020, and then to July 31, 2020. 

TRENDING NOW

WATCH Zee Business TV LIVE Streaming Online

The taxpayers who fail to file belated ITR on time, are required to pay a penalty. Also, if an individual does not file the belated ITR, if due, by the deadline (i.e., Sept 30, 2020), then he/she will not be able to file the income tax return for the financial year 2018-19. One can also file a revised ITR for FY2018-19 within this deadline. A revised return is filed to correct mistakes made, if any, in the original tax return filed earlier. 

The taxpayers should also know that the last date to file income tax return for the previous financial year FY20 (AY 2020-21) is November 30, 2020, as against the normal deadline of July 31.

Written By: ZeeBiz WebTeam
Edited By: Harish Dugh
Updated: Thu, Jul 30, 2020
10:15 am
New Delhi, ZeeBiz WebDesk
RELATED NEWS
GST intelligence unit detected over Rs 1.98 lakh crore worth tax evasion cases, ITC fraud totaling Rs 21,078 crore in 2023: FinMin GST intelligence unit detected over Rs 1.98 lakh crore worth tax evasion cases, ITC fraud totaling Rs 21,078 crore in 2023: FinMin
Net direct tax collection grows 19% so far in FY'24 to Rs 14.70 lakh crore, 81% of Budget target Net direct tax collection grows 19% so far in FY'24 to Rs 14.70 lakh crore, 81% of Budget target
Income Tax Department conducts search operations at premises of wires, cables and electrical items manufacturer in Mumbai Income Tax Department conducts search operations at premises of wires, cables and electrical items manufacturer in Mumbai
5 Income Tax rules introduced in 2023 that will impact you this year 5 Income Tax rules introduced in 2023 that will impact you this year
Received Income Tax 'notice'? I-T dept issues explanation, says taxpayers must respond to the 'communication on priority' Received Income Tax 'notice'? I-T dept issues explanation, says taxpayers must respond to the 'communication on priority'

By accepting cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.

x