Saturday , April 17 2021

ITR filing FY 2019-20: Haven’t filed your tax return? Do not ignore this

New Delhi: Though the last date of filing Income Tax returns for FY 2019-20 is over for individual filers as well as for companies, March 31, 2021 is the final deadline to file ITR as well as revised ITR with the late fee.

The Income Tax department has been issuing constant alerts and warnings on filing Income Tax Returns. Recently the I-T department tweeted, 

Earlier, on March 24, I-T department had tweeted If Tax has been deducted on your receipts/income, but you haven’t filed your Income Tax Return (ITR), please do so at the earliest. Last date to file ITR for AY 2020-21 is March 31st, 2021.

It must be noted here that the deadline for filing income tax returns by individuals was extended by 10 days to January 10, 2021 while that for companies had been extended  till February 15, 2021. However, March 31, 2021 is the final deadline to file ITR and revised ITR with the late fee. This year, taxpayers are required to submit the returns for the FY 2019-20 financial year and the assessment year would be AY 2020-21.

As on March 24, CBDT had tweeted that it had issued refunds of over Rs. 2,13,823 crore to more than 2.24 crore taxpayers between 1st April,2020 to 22nd March,2021. Income tax refunds of Rs. 79,483 crore have been issued in 2,21,92,812 cases & corporate tax refunds of Rs. 1,34,340crore have been issued in 2,22,188 cases.

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