Still not filed your income tax return (ITR)? Well, today is not the last date. There is no need to worry and you can enjoy your New Year celebrations too as the government has extended the deadline by 10 days. The new deadline to file ITR for an individual is now 10 January 2021.
The deadline for filing tax returns by businesses too has been extended till February 15, the finance ministry said in a statement.
Govt extends ITR filing deadline for third time
This is the third time that the government has extended the deadline to file ITR – first from the normal deadline of 31 July 31 to 30 November 2020, and then to 31 December 2020.
The extension of the deadline till 10 January is for filing ITR for 2019-20 fiscal year (2020-21 assessment year) and is for those individuals whose accounts are not required to be audited and who usually file their income tax return using ITR-1 or ITR-4 forms, as applicable, the statement said.
The deadline for other taxpayers whose accounts are required to be audited (including partners of a firm) and/or those who have to submit report in respect to international financial transactions has been extended to 15 February 2021.
The finance ministry said the extension in various deadline was given in view of the continued challenges due to the outbreak of COVID-19.
More than 4.73 crore tax returns filed
The IT department said more than 4.73 crore tax returns for 2019-20 fiscal have been filed till 30 December 2020.
Options available for filing your income tax returns
There are various options available to file your ITR including income tax official website.
Income tax department website
The taxpayer just needs to visit the e-filing website and log in with their user-ID and password for the e-filing portal. In case if the taxpayer is not already registered, it may easily get registered.
How to Login to e-filing portal
– Go to e-filing portal.
-If already registered on the portal, click on ‘Login Here” to log in to e-filing portal.
-If not already registered on e-filing portal. Click on “Register Yourself”
‘Jhatpat Processing’ for quicker ITR filing
The Income Tax department has introduced a new initiative called, ‘Jhatpat Processing’ to smoothen the ITR filing experience for taxpayers. The ‘Jhatpat Processing’ feature will help individuals in filing tax returns quickly in a seamless manner. ‘Jhatpat Processing’ has started for ITR1 and ITR4
SBI’s Yono app
SBI customers can avail this benefit for simple ITR Filing, the process is available for free. However, if you pay a little, you can avail CA assisted services. “Saving bhi, ITR filing bhi. File your Income Tax Return with Tax2win on YONO for free.”