Last Date for Filing ITR (Income Tax Returns) is March 31st: If you are one of those taxpayers who have not filed their belated income tax return (ITR) for AY 2020-21 or FY 2019-20 for any reason or due to the pandemic, then you need to hurry as 31 March 2021 is the last date for doing it. If you fail to file your belated or revised ITR by this date, then you may not be able to do it again, unless the deadline is extended again by the Income Tax Department.
The I-T Department has also urged taxpayers to file their return on time, saying, “DO NOT IGNORE THIS! If you haven’t filed your Income Tax Return (ITR) yet, this is your last chance to do so. Last date to file your ITR for AY 2020-2021 is March 31st, 2021.”
Apart from salaried employees, business men and professionals are also required to file their ITR today. “Attention Businesses and Professionals. If tax has been deducted on your receipts/income, but you haven’t filed your Income Tax Return (ITR), please do so at the earliest,” the I-T Department had tweeted a couple of days earlier.
Tax experts, however, are still looking for extension in the deadline for filing of belated returns for FY2019-20, especially for tax payers with cross-border incomes.
Aarti Raote, Partner, Deloitte India, says, “The due date for filing of belated tax returns/ revising tax returns for FY 2019-20 is March 31, 2021. The tax office had extended the original deadline for tax return filing from July 31 2020 to January 10 2021. However, no notification for extension for filing of belated returns has been issued.”
“Given that the world is still reeling under the threat of pandemic, several tax payers especially those with cross-border incomes are having a challenge collating all information for filing belated tax returns. Hence it will help if a small extension is granted. If the individual has not filed his tax return in India by today, he may not be able to file the tax return for FY 2019-20,” she adds.