CBDT issued notification for extension of due date of furnishing of Income Tax Returns and Audit Reports

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The CBDT vide Notification No.  88/2020 dated October 29, 2020 extended the due dates of Income Tax Returns and Audit Reports for AY 2020-21 in following manner:

(A) The due date for furnishing of Income Tax Returns for the taxpayers (including their partners) who are required to get their accounts audited [for whom the due date (as per the Income Tax Act, 1961 (“Income Tax Act”) is October 31, 2020] has been extended to January 31, 2021.

(B) The due date for furnishing of Income Tax Returns for the taxpayers who are required to furnish report in respect of international/specified domestic transactions [for whom the due date as per the Income Tax Act is November 30, 2020] has been extended to January 31, 2021.

(C) The due date for furnishing of Income Tax Returns for the other taxpayers [for whom the due date as per the Income Tax Act was July 31, 2020 has been extended to December 31, 2020.

(D) The date for furnishing of various audit reports under the Income Tax Act including tax audit report and report in respect of international/specified domestic transaction has also been extended to December 31, 2020.

The Notification can be accessed at: https://www.incometaxindia.gov.in/communications/notification/notification_88_2020.pdf

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