Latest Update: The deadline for filing the Income Tax Return for the Financial year 2019-20(AY 2020-21) has been extended till 31st December, 2020. Similarly, the extended date for tax audit as well as TP audit is 31st January, 2021.
By the term due date, we mean the date by which the income tax return has to be filed. Any delay in filing return from the due date will attract fines and penalties. According to Section 234A if any taxpayer files their return after the due date, they will be liable to pay interest and as per Section 234F they will have to pay penalty. The due date is different for the taxpayers for example in case of the taxpayers who receive salaries have to file their income tax return before 31st July of the assessment year.
Income tax filing due dates for the FY 2019-20
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Category of taxpayer
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Due date
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Individual
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December 31, 2020
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Body of Individual
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December 31, 2020
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Association of Persons
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December 31, 2020
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Hindu Undivided Family
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December 31, 2020
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Businesses (Requiring Audit)
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January 31, 2021
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Businesses (Requiring TP Report)
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January 31, 2021
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Income tax filing due dates for the FY 2018-19
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Category of taxpayer
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Due date
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Individual
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September 30, 2019
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Body of Individual
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September 30, 2019
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Association of Persons
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September 30, 2019
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Hindu Undivided Family
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September 30, 2019
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Businesses (Requiring Audit)
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October 31, 2019
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Businesses (Requiring TP Report)
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October 31, 2019
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In case you have any doubts with regards to whether you are supposed to file an income tax return, then you can refer to our website for more articles. Caadvocatecs.com will help you to e-file your Income Tax Return.
1. In case you are a salaried person then you have to fill and upload Form – 16 and then Caadvocatecs.com will automatically calculate your return and assist you in filing.
2. As per Section 44AD or 44ADA you have to file ITR – 4 in case you are a freelancer or a small businessman or run your business at home for e.g. a Kirana Store. CAs at Caadvocatecs.com will help you prepare as well as e-file your income tax return.
3. Caadvocatecs.com also supports all the ITR forms, namely ITR-1, ITR-2, ITR-3, ITR-4, ITR-5, ITR-6 and ITR-7. Apart from that we will automatically choose the correct form for you.
Important due dates of Income tax return filing for the year 2020
Apart from filing the Income tax, there are a lot of formalities related to compulsory tax that needs to be followed. They have their own specified due dates. A simplified tax calendar for the FY 2020-21 is as follows:
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Due Date
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Tax Due
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June 15, 2020
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The first instalment of advance tax for FY 2020-21
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September 15, 2020
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The Second instalment of advance tax for the FY 2020-21
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December 31, 2020
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Filing income tax returnfor FY 2019-20 (AY 2020-21) apart from cases related to audit. Moreover, due date for filing Tax audit report for the FY 2019-20 for:
i. Companies
ii. Non-Companies, whose books need to be audited.
Then, due date for filing audit report for FY 2019-20, for a person who has to submit a report related to either international or specified domestic transactions as per Section 92E.
Also for the report to be furnished in Form 3CEB in terms of either international or specified domestic transactions.
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January 31, 2020
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Filing Income tax Return for FY 2020-21 specifically for taxpayers whose accounts are subject to be tax audit and TP audit.
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December 15, 2020
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Third instalment of advance tax for FY 2020-21.
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March 15, 2021
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1. Fourth instalment of advance tax due for FY 2020-21.
2. The whole amount of advance tax for FY 2020-21 specially for those who are covered under the presumptive scheme of Section 44Ad and 44DA.
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Just in case the original due date of filing the Income Tax return is missed, there is also an option of filing the return by a way of belated return for the FY 2019-20 which needs to be filed on or before March 31, 2021.
