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Deal with the necessary work related to income tax by 31 May, there is less scope to increase deadline

Due to Income Tax Return Deadlines Covid mahamari, the date of many important works has been extended. It also includes Income Tax Department which has extended the date of filing some documents for the convenience of Taxpayers.


New Delhi: Income Tax Return Deadlines: Due to Covid mahamari, the date of many important works has been extended. It also includes the Income Tax Department, which has extended the date of filing some documents for the convenience of the taxpayers. The Central Board of Direct Taxes (CBDT) has extended several paper filings till 31 May and 30 June after receiving all the requests. These include income tax return for FY 2019-20. Therefore, it would make more sense to settle the work on time.

The CBDT extended the filing of returns for FY 2019-20 to 31 May due to the closure of business in the Covid epidemic. Along with this, the department is fast disposing of Income Tax refunds. According to the department’s tweet, he had refunded tax of Rs 15,438 crore in the first month of FY 2021-22. This refund was given to 11.73 lakh taxpayers.

Keep these things in mind

– The government has extended the deadline for payment of two months and till June 30 due to the Kovid-19 epidemic under its direct tax dispute redressal scheme ‘Vivad Se Vishwas scheme’. According to the CBDT, the time for payment of dues under the Direct Tax Disputes Trust Act, 2020, without any additional amount, has been extended up to June 30, 2021. Pending cases can be settled by paying 100 percent of the disputed tax and 25 percent of the disputed penalty or interest or fee.

– The trust law came into force on March 17, 2020 from the direct tax dispute. The objective is to provide an alternative to the concerned taxpayers for disposal of pending cases in various courts. The benefit of the trust scheme from the dispute can be taken with reference to the proceedings pending before the Income Tax Settlement Commission or the writ petition filed against the order of the ITSC.

– On the other hand, if you want to file an old ITR, then there is a chance till May 31, 2021. According to the CBDT, the last date for filling the old returns and revised returns under the Income Tax Act 1961 for AY 2020-21 was 31 March 2021, it has been extended to 31 May 2021.

– Last date for TDS payment and challan filing was 30 April 2021. It has also been increased to 31 May 2021.

– If the taxpayer has received notice under the Income Tax Act, then its date has also been increased to 31 May, which was earlier from 1 April 2021.

Parvesh Maurya
Parvesh Maurya
Parvesh Maurya, has 5 years of experience in writing Finance Content, Entertainment news, Cricket and more. He has done BA in English. He loves to Play Sports and read books in free time. In case of any complain or feedback, please contact me @ informalnewz@gmail.com
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