Income Tax Returns: IT returns have not been filled, then definitely read, what did CBDT say on the fine.
If you have missed filing income tax return till January 10 and are waiting for the date to increase, then it is important for you to know. The Central Board of Direct Taxes (CBDT) has refused to extend the dates for filing income tax returns. He says that the date will be fixed only on the return.
This means that the Personal Income Taxpayer who missed the January 10 deadline to file returns, may now have to pay a fine to complete the process. Similarly, the income taxpayer who has to file an audit report before filing the return will have to do so by 15 January and file their income tax return by 15 February.
Query received by Income Tax
The Income Tax Department had taken several representations to extend the dates of filing returns, because of the problem caused by the epidemic. It was suggested that the dates should be increased to 31 March for all categories of taxpayers.
More returns filled this year
The board also said that India has been more liberal than other global economies. Apart from this, the figures of Income Tax Return filed this year show that the number is more than that of last year. In 2019-20, around 5.62 crore income tax returns were filed and by January 10 this year (2020-21) already 5.95 Income Tax returns have been filed.
Income Tax return Filing date
The CBDT said in its order that increasing the debt will spoil the return filing system. Also it will be wrong with those who have taken the trouble to file the return before time. The CBDT order states that by increasing the deadline, the government’s efforts to provide relief to the poor in Covid’s time will also be weak.
31 January Return Filing date extended
For taxpayers who have to report in case of International / Specific Domestic Transactions (for which the latest due date for filing ITR was 31 January 2021), the last date for filing ITR for assessment year 2020-21 was extended to 15 February 2021 Has gone