The Income Tax Department has extended the last date to file the Income Tax Returns (ITR) for the financial year 2019-20 (the assessment year 2020-21) by a month. The taxpayers can now file the ITR till December 31 of income earned between April 1, 2019, and March 31, 2020. For individuals required to get their accounts audited, a new deadline of January 31, 2021, is applicable, instead of December 31, 2020.
The last date to furnish the audit reports on international or specified domestic transactions has also been extended until January 31, 2021. The deadline for small taxpayers or those with a tax liability up to ₹ 1 lakh based on self-assessment can also file the ITR till January 31.
For more detail, read at NDTV