In a breather to taxpayers, the government on Wednesday extended compliance deadlines for income tax, goods and services tax and Vivad se Vishwas direct tax dispute resolution scheme in view of the challenges arising due to the coronavirus pandemic.
“Considering the problems being faced by the taxpayers, it has been decided to provide further time to the taxpayers…. to comply (with tax due dates),” government said in an official release.
The deadline for filing income tax return by individual taxpayers for 2019-20 has been extended to January 10, 2021 from December 31, 2020. The due date for ITR filing for companies for FY20 has been extended by 15 days to February 15, 2021.
ALSO READ: Gland Pharma’s growth trajectory to remain elevated in medium term
The deadline to furnish annual return under central goods and services tax for FY20 has been extended February 28. However, no extension has been given for annual returns for FY19.
Besides, the government has also extended the declaration window under Vivad Se Vishwas Scheme by a month to January 31.
The Income tax Department on Wednesday said that more than 45.4 million tax returns for 2019-20 fiscal have been filed till December 29.
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor