ITR Filing Deadline Extended Again By Amrit Sharma - December 31, 2020 Last Updated at: Dec 31, 2020 1550 The Government announced another extension of the ITR filing (Income Tax Return) deadline till 10th January 2021. This was no less than a ‘New Year Gift’ for the taxpayers. Facing hardships in the wake of the COVID-19 situation. Now, the taxpayers have got 10 more days to file their ITRs for FY 2019-20 (The assessment Year 2020-21). If you have not been able to file your ITR and were probably staring at penalties, you can have a temporary sigh of relief now! Please note that this was the 5th such extension announced by the Government for the fiscal. Earlier in March, the deadline was extended for the first time from March 31st to June 30th. Then the deadline was extended again till 31st July. Vide a notification dated 24th June, the deadline was further extended for the 3rd time till 30th November. On 24th October, the deadline was extended again till 31st December. Similar extensions for other compliances too! In its tweet dated 30th December 2020, the Income Tax Department said: “In view of the continued challenges faced by taxpayers in meeting statutory compliances due to outbreak of Covid-19, the government further extends the dates for various compliances.” File Your ITR now There is good news for companies and individuals who need to file their tax audit reports. Now, they can file their returns up to 15th February 2021, instead of the earlier deadline of 15th January. The Finance Ministry statement encourages lines for those who got registration for the “Vivid Se Vishwas “ Scheme as well. The deadline to file a declaration under this direct tax dispute resolution scheme extends by 30 days. Now, taxpayers have time till 31st January 2021 to file the declaration, instead of the earlier deadline of 31st December 2020. The ‘New Year Bonanza’ just does not end here. The relief measures extend to the GST domain too. Acknowledging requests/representations from the industry. The Government decides to extend the due date to file GST annual return for 2019-20 fiscal by two more months. Instead of 31st December 2020, taxpayers can now file their annual GST returns for 2019-20 fiscal by 28th February 2021. The industry experts have already welcomed these new relief measures. These latest extensions on various fronts would further ease the compliance burden of the taxpayers troubled by the COVID-19 disruption.