What is the due date for filling Income Tax return for A.Y.2020-21 ?
What is the penalty if return filled after due date?
Bharatkumar (Individual) (124 Points)
30 March 2021What is the due date for filling Income Tax return for A.Y.2020-21 ?
What is the penalty if return filled after due date?
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 30 March 2021
Bharatkumar
(Individual)
(124 Points)
Replied 30 March 2021
I think due date is 10th January 2021 for non audit case.
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 30 March 2021
Bharatkumar
(Individual)
(124 Points)
Replied 30 March 2021
The income tax return (ITR) filing deadline for FY 2019-20 (AY 2020-21) is extended to 10th January 2021. For tax audit and TP audit, the due date is 15th February 2021.
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The due date for filing income tax returns is the date by which the returns can be filed without any late fee or penalty. The taxpayers filing their return beyond such due date will have to pay interest under 234A and penalty under section 234F. It is important for all the taxpayers to remember the due date of filing income tax returns. The due date varies on the basis of taxpayers. For instance, salaried individuals are usually required to file their income tax returns by 31st of July of the assessment year.
Income tax filing due dates for the FY 2019-20
| Category of Taxpayer | Due Date for Tax Filing – FY 2019-20 |
|---|---|
| Individual | 10th January 2021 |
| Body of Individuals (BOI) | 10th January 2021 |
| Hindu Undivided Family (HUF) | 10th January 2020 |
| Association of Persons (AOP) | 10th January 2021 |
| Businesses (Requiring Audit) | 15th February 2021 |
| Businesses (Requiring TP Report) | 15th February 2021 |
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Important Due Dates of Income tax return filing for the year 2020
Whenever we talk about income tax, there is various kind of compulsory tax formalities that need to be followed by a person and that too within the specified due dates prescribed, such as filing of income tax returns, paying advance tax on time. Here is the TAX CALENDAR for the FY 2020-21:
| Due Date | Tax Due |
|---|---|
| 15th June 2020 | Due date for the first instalment of advance tax for the FY 2020-21 |
| 15th September 2020 | Due date for the second instalment of advance tax for the FY 2020-21 |
| 10th January 2021 | Due date to file income tax return for FY 2019-20 (AY 2020-21) other than audit cases. Secondly, Due date for filing of tax audit report for the FY 2019-20 for the following: i. companies ii. Non-Companies Whose books are required to be audited. The due date for filing Audit report for the FY 2019-20 in case of a person who is required to submit a report pertaining to international or specified domestic transactions under section 92E. The due date for the report to be furnished in Form 3CEB in respect of international and specified domestic transactions |
| 15th February 2021 | The due date for filing of Income-tax Return for FY 2019-20 for taxpayers whose accounts are subject to tax audit and TP audit |
| 15th December 2020 | Due date for the third instalment of advance tax for the FY 2020-21 |
| 15th March 2021 | i. The fourth instalment of advance tax due for the FY 2020-21 ii. The due date for the whole amount of advance tax for FY 2020-21 for taxpayers covered under the presumptive scheme of Section 44AD and 44ADA Read about how to calculate and pay Advance Tax. |
Further, here, it would be relevant to mention that if the due date for filing the original return of income is missed, on can file a return belatedly called a belated return for the FY 2019-20 on or before 31 March 2021.
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sukhwani keyur
(588 Points)
Replied 31 March 2021
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