Business

Income Tax Return: The date for filing income tax return is ahead, know – how long can ITR file

Income Tax Return: In view of the increase in Corona cases, the date of filing of income tax return has been extended to 31 May.

Income Tax Return: In view of the Corona period, a major decision has been taken towards the government. Due to the mounting difficulties, the date of filing the income tax return by the government has been revised further. The date of filing income tax return has been extended till May 31. Now the question arises in the minds of the people as to whom it has been done. Can the Puran Income Tax Form be filled out. It is important to know here that the last date for filing income tax for assessment year 2021-22 (FY 2020-21) is 31 July. Also Read – ITR Filing Compliance Check Facility: Be careful! Otherwise, ITD will tighten the provision; Banks / post offices will also check ITR Status

What is the order of the government? Also Read – Income Tax New Rules: Income tax rules are changing from today, know – how will your daily life be affected?

Finance Minister Nirmala Sitharaman has said that for the assessment year 2020-21 (FY 2019-20), the date of filing the income tax return on behalf of the government has been revised for two months to 31 May 2021. This has been done under Articles 4 and 5 of Section 139 of the Income Tax Act, 1961. If there is any mistake in filing income tax return, then the revised income tax return can be filed. Also Read – Income Tax Return 2020-21: Settle this important work before March 31, otherwise heavy penalty will be incurred

If a taxpayer does not file income tax by 31 July, then he has the option to file bilateral ITR. But after that the taxpayer has to pay a fine. This fine can be between 5,000-10,000.

Has the government taken any other decision?

Under Chapter XX, the date of filing of income tax was till 1 April 2021 in the Commissioner’s appeal, which has been increased to 31 May. The date for filing income tax under 144C has been extended to 31 May.

If a taxpayer has received notice under 148, then his date has also been extended to 31 May. The date for filing income tax returns for the financial year 2020-21 has been extended to 31 July. Till this date, you will not have to pay a fine of even one rupee.

What is the last date now?

The date of filing income tax returns for the financial year 2019-20 has been revised to 31 May. This decision has been taken in view of the rapid increase in Corona cases.

What if ITR is not filed by 31 May?

By this date, the person who did not file ITR could be sentenced to jail. The jail term can be from three months to two years. But if the arrears of income tax is more than Rs 25 lakh, then the jail term can be up to seven years.

.

Show More

Related Articles

Leave a Reply

Back to top button