Due Dates of ITRs & Tax Audit Due Dates Extended?

The Taxation And Other Laws (Relaxation And Amendment Of Certain Provisions) Bill, 2020 (Bill) is introduced in Lok Sabha on 18th September 2020 and was having a lot of Drafting mistakes fr which it subsequently issued Errata. This bill was passed in Lok Sabha on 19th September 2020 and it replaces Taxation and other Laws (Relaxation of Certain Provisions) Ordinance, 2020, promulgated in March 2020.

The ambiguity of language of this Bill created an impression that dates for filing ITRs etc have been extended. However, that is not true.

The bill starts from the third proviso of section 3 which is as under:

“Provided also that where the specified Act is the Income-tax Act, 1961 and the compliance relates to—

(i) furnishing of return under section 139 thereof, for the assessment year commencing on the—

(a) 1st day of April 2019, the provision of this subsection shall have the effect as if for the figures, letters, and words “31st day of March 2021”, the figures, letters, and words “30th day of September 2020” had been substituted;

(b) 1st day of April 2020, the provision of this subsection shall have the effect as if for the figures, letters, and words “31st day of March 2021”, the figures, letters, and words “30th day of November 2020” had been substituted;

(vii) furnishing of the report of audit under any provision thereof for the assessment year commencing on the 1st day of April 2020, the provision of this subsection shall have the effect as if for the figures, letters, and words “31st day of March 2021”, the figures, letters and words “31st day of October 2020” had been substituted:“

Income Tax & GST Due Date Extended?

Now after reading the above amendments many believed for once that the due date has been extended to 31 March 2021 for all income tax returns and tax audit reports.

However, that’s not true. If one reads the above bill carefully the first subsection extends all the due date between 20 March 2020 to 31 December 2020 to 31 March 2021 whereas the next proviso clarifies that for various due dates shall not extend to 31 March 2021 where it will extend to some specific date.

Compliance Period Date Date
ITR Filing FY 2018-19 30th September 2020
ITR Filing FY 2019-20 30th November 2020
Tax Audit FY 2019-20 31st October 2020

Thus there is no extension as now for ITR filing or Tax Audit Due date.

Disclaimer: This is as per the information available on 21st Sep 2020.

Tags: Income Tax

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