The Due Date for Tax Filing. FY 2019-20 (Last Date)

You need to understand the category of your taxpayer because different categories of taxpayers will have to pay tax at different rates according to their fixed slave rate. The due date for filing an income tax return is the date by which the return can be filed without any late fee or penalty. Taxpayers filing returns before such due date will have to pay interest under 234A and penalty under 234F. It is important for all taxpayers to remember the due date for filing income tax returns.

The due date of Income tax return filing :

  • for individual taxpayers has been extended to 31st December 2020.
  • for Body of Individuals (BOI) has been extended to 31 December 2020
  • for Hindu Undivided Family (HUF) has been extended   31 December 2020
  • for Association of Persons (AOP) has been extended 31 December 2020
  • for Businesses (Requiring Audit) has been extended 31 January 2021
  • for Businesses (Requiring TP Report) has been extended 31 January 2021

Note: As part of COVID-19 relief measures, the various due dates for filing the income-tax returns for the FY 2019-20 (AY 2020-21) stand extended to 31 December 2020. For tax audit and TP cases, the due date is 31 January 2021.

File tax returns for A.Y. before 31 March 2020-21 with INR 10,000 fine

The income tax department notified the taxpayers of the late filing of tax returns for A.Y. 2020-21, along with a penalty of INR 5000 and INR 10000. The taxpayer has to file the late filing of tax returns for A.Y. 2020-21 before 31st March anyhow.

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