CBDTNotificationNotification No. 88/202029 Oct 2020

Extension of Due Dates for Income Tax Returns and Audit Reports

Deadline: 31 Jan 2021 · 2103 days ago · Extended time-limit for return furnishing for assessees under clauses (a) and (aa)
Who: Assessees referred to in clauses (a) and (aa) of Explanation 2 to sub-section (1) of section 139 of the Income-tax Act, 1961 +1 more
Action: Furnish the return under section 139 by January 31, 2021 for assessees under clauses (a) and (aa) of Explanation 2 to sub-section (1) of section 139.

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What changed

The Central Government extends the time-limit for furnishing income-tax returns and audit reports for the assessment year starting on April 1, 2020. Assessees referred to in clauses (a) and (aa) of Explanation 2 to sub-section (1) of section 139 furnish their return by January 31, 2021. Other assessees furnish their return by December 31, 2020. Assessees furnish any required report of audit by December 31, 2020. The notification comes into force on the date of its publication in the Official Gazette.

What you must do

Furnish the return under section 139 by January 31, 2021 for assessees under clauses (a) and (aa) of Explanation 2 to sub-section (1) of section 139.
Furnish the return under section 139 by December 31, 2020 for other assessees.
Furnish the report of audit under any provision of the Income-tax Act, 1961 by December 31, 2020.

Key dates

Effective from: 29 Oct 2020
Date of publication and coming into force: 29 Oct 2020
Extended time-limit for return furnishing for other assessees: 31 Dec 2020
Extended time-limit for furnishing report of audit: 31 Dec 2020
Extended time-limit for return furnishing for assessees under clauses (a) and (aa): 31 Jan 2021

Who is affected

Assessees referred to in clauses (a) and (aa) of Explanation 2 to sub-section (1) of section 139 of the Income-tax Act, 1961
Other assessees required to furnish a return under section 139 of the Income-tax Act, 1961

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Document text

Prepared for reading; wording retained from the source.

Official source

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 29th October, 2020 TAXATION AND OTHER LAWS

S.O. 3906(E).—In exercise of the powers conferred by sub-section (1) of section 3 of the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 (38 of 2020) (hereinafter referred to as the Act), the Central Government hereby specifies, for the purpose of the said sub-section (1), that, in a case where the specified Act is the Income-tax Act, 1961 and the compliance for the assessment year commencing on the 1st day of April, 2020, relates to -

(i) furnishing of return under section 139 thereof, the time-limit for furnishing of such return, shall -
- (a) in respect of the assessees referred to in clauses (a) and (aa) of Explanation 2 to sub-section (1) of the said section 139, stand extended to the 31st day of January, 2021; and
- (b) in respect of other assessees, stand extended to the 31st day of December, 2020: Provided that the provisions of the fourth proviso to sub-section (1) of the Act shall, mutatis mutandis apply to these extensions of due date, as they apply to the date referred to in sub-clause (b) of clause (i) of the third proviso thereof.
(ii) furnishing of report of audit under any provision of that Act, the time-limit for furnishing of such report of audit shall stand extended to the 31st day of December, 2020.

This notification shall come into force from the date of its publication in the Official Gazette.

[Notification No. 88/2020/ F. No. 370142/35/2020-TPL] NIRAJ KUMAR, Dy. Secy. (Tax Policy and Legislation Division)

Source details

Official title: notification no. 88/2020 f. no. 370142/35/2020 tpl / so 3906 e
Source: Central Board of Direct Taxes / Income Tax Department
Type: notification
Published by source: 29 Oct 2020
Document number: Notification No. 88/2020
Issuing division: Central Board of Direct Taxes
Effective date: 29 Oct 2020
Coverage area: direct-tax

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Extension of Due Dates for Income Tax Returns and Audit Reports

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