New Delhi: In a major relief to tax payers, the Central Board of Direct Taxation (CBDT) on Saturday extended the deadline for filing returns by individual taxpayers for 2019-20 by a month. Now, the last date for filing tax returns is December 31. The CBDT said the deadlines have been extended in order to “provide more time to taxpayers for furnishing of Income Tax Returns”. Also Read - GST Revenues Cross Trillion Mark For 2nd Straight Month at Over Rs 1.04 Lakh Crore in November

The government had in May extended the date for filing ITR for FY2019-20 from July 31 to November 30, to give compliance relief to taxpayers. Also Read - Banks to Charge For Deposit, Withdrawal of Money? Finance Ministry Clears The Air | Read Here

In a statement, the Central Board of Direct Taxes (CBDT) said, “The due date for furnishing of Income Tax Returns for the taxpayers [for whom the due date (i.e. before the extension by the said notification) as per the Act was July 31, 2020] has been extended to December 31, 2020.” Also Read - GST Collections in Oct May Cross Rs 1 Lakh Crore Mark For First Time in FY21

For Accounts That Needs Auditing – Tax Filing Deadline – January 31, 2021

Taxpayers whose accounts need to be audited, the Income-Tax Return filing deadline has been extended by two months till January 31, 2021.

The due date for furnishing of ITR for the taxpayers, who are required to get their accounts audited (for whom the due date as per the I-T Act is October 31, 2020), has been extended to January 31, 2021, it added.

The CBDT said the deadlines have been extended in order to “provide more time to taxpayers for furnishing of Income Tax Returns”.

Deadline for filing FY19 GST annual returns extended till Dec 31

The government on Saturday also extended the deadline for furnishing GST annual returns for FY 2018-19 by two months till December 31.

The government had last month extended the last date for filing GST annual return and audit report for the 2018-19 fiscal by a month till October 31, 2020.

In a statement, the Central Board of Indirect Taxes and Customs (CBIC) said the government has been receiving a number of representations regarding need to extend due date for filing Annual Return (Form GSTR-9) and Reconciliation Statement (Form GSTR-9C) for FY 2018-19.

The representations have been made on the grounds that due to the COVID-19 pandemic related lockdown and restrictions, normal business operations have still not been possible in several parts of the country, it said.

The statement said it has been requested that the due dates for the same be extended beyond October 31, 2020 to enable the businesses and auditors to comply in this regard.

“In view of the same, on the recommendations of the GST Council, it has been decided to extend the due date for filing Annual Return (Form GSTR-9/GSTR-9A) and Reconciliation Statement (FORM GSTR-9C) for Financial Year 2018-19 from October 31, 2020 to December 31, 2020,” the CBIC said.

GSTR 9 is an annual return to be filed yearly by taxpayers registered under the Goods and Services Tax (GST). It consists of details regarding the outward and inward supplies made or received under different tax heads.

GSTR-9C is a statement of reconciliation between GSTR-9 and the audited annual financial statement.

Furnishing of the annual return is mandatory only for taxpayers with aggregate annual turnover of above Rs 2 crore while reconciliation statement is to be furnished only by the registered persons having aggregate turnover above Rs 5 crore.