Centre extends date for filing of ITR till May 31st

On Saturday, The Central Board of Direct Taxes (CBDT) has agreed to extend the deadlines for different tax compliance dates in the face of the harsh second wave of Covid-19 pandemic. The extended deadline is now May 31st, this date would also apply to revised or belated return filings for the financial year of 2019-2020.

The Central Board of Direct Taxes has said that they had gotten requests for compliance requirements to be relaxed from a variety of stakeholders.

A statement by the ministry of finance read as, “In view of the adverse circumstances arising due to the severe Covid-19 pandemic and also in view of the several requests received from taxpayers, tax consultants & other stakeholders from across the country, requesting that various compliance dates may be relaxed, the Government has extended certain timelines today."

The relaxations extended by the CBDT under section 119 of the Income tax Act of 1961 include –

Belated return filing under sub-section (4) of Section 139 of the Income Tax Act, as well as a revised return under sub-section (5) of Section 139 of the Income Tax Act, for Assessment Year 2020-21, which was due for filing on or before March 31st can now be done on or before May 31st.

Income-tax returns in reference to notices issued under Section 148 of the Act with a due date of April 1st or later, must be submitted during the time period specified in the notification or by May 31st, whichever is later.

The deadline for submitting objections to the Dispute Resolution Panel and appeals to the commissioner has also been postponed until May 31st.

These extensions of deadlines were “taken by the government to ease compliances to be made by the taxpayers with the aim to grant respite during these difficult times", it is intended to ease problems for taxpayers in the midst of the pandemic.