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CBDT finally Extends Due Date of Tax Audit Report and filing of ITR for AY 2020-21 (FY 2019-20)

cbdt-extends-due-date-tax-audit-report-filing-of-itr-ay-2020-21-fy-2019-20

After a lot of representations, the government finally extended the due date for furnishing the Tax Audit Report by 15 days to 15th January 2021 from earlier extended date of 31st December 2020 and the due date for filing of Income tax returns (ITRs) for all the corporate assessees having tax audit requirement or having no tax audit requirements from 31st January 2021 to 15th February 2021 for the Assessment Year 2020-21. For those non-corporate assessee (viz. Individuals, HUF, etc.) having no tax audit requirement, the date is extended by 10 days from 31st December 2020 to 10th January 2021. CBDT stated in a press release issued on 30.12.2020.

Prior to this, CBDT has extended the due date for filing of Tax Audit Reports to 31st December 2020 and filing of ITRs to 31st January 2021 for those assessees who are required to furnish tax audit reports. For those assessees who were not subject to tax audit, the due date for furnishing the return of income was extended till 31st December 2020. This was applicable for all the assessee including corporate and non-corporate taxpayers like individuals. This was stated in a Press Release dated 24.12.2020 and finally notified the extension of due dates vide Notification No. 88/2020 dated 29.10.2020.


The due date for filing of Tax Audit Report and Income Tax Returns for the assessment year (AY) 2019-20 was extended till 30th November 2020.

In the press release, CBDT stated that the due date for furnishing o
f Income Tax Returns for the taxpayers (including their partners) who are required to get their accounts audited has been extended to 15th  February, 2021 from the prescribed due date of 31st October 2020 u/s 139(1).

Similarly, the due date for furnishing of Income Tax Returns for the other taxpayers due date has been extended to 10th January 2021 from the prescribed due date of 31st July 2020 u/s 139(1).

The due date for furnishing of Income Tax Returns for the taxpayers who are required to furnish a report in respect of international/specified domestic transactions has been extended to 15th February 2021 from the prescribed due date of 30th November 2020 u/s 139(1).

The release further states that the date for furnishing of various audit reports under the Act including tax audit report and report in respect of international/specified domestic transaction has also been extended to 15th January 2021 (from the earlier extended date of 31st December 2020) from the prescribed due date of 31st October 2020.

Due to the imposition of nation-wide lockdown due to outbreak COVID-19, the due date of furnishing tax audit report and ITRs for AY 2020-21 was initially extended from 30th September 2020 to 31st October 2020 and 31st October 2020 to 30th November 2020 respectively by way of a notification being Notification No. 35/2020 dated 24.06.2020 issued under section 3(1) of the Taxation and other Laws (Relaxation of Certain Provisions) Ordinance, 2020. Later, this dates of 31st October 2020 and 30th November 2020 were codified in the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 notified on 29.09.2020.


Readers are aware that the Finance Act, 2020 has changed the ‘specified date’ and prescribed the due date for furnishing the tax audit report. It is provided that the due date to furnish a tax audit report is one month prior to the due date of filing of return of income. Hence, the due date to file a tax audit report is linked with the ITR filing due date.

However, a notification in this regard will be issued in due course.

Update:

CBDT has issued the requisite Notification on 29.10.2020. Read the Notification here



Further, the due date for payment of self-assessment tax date is again being extended. The due date for payment of self-assessment tax for taxpayers whose self-assessment tax liability is up to Rs. 1 lakh has been extended to 15th February 2021 (for tax audit assessees) and to 10th January 2021 (for non tax-audit cases).

Though the due date for filing of Income-tax Return for the Assessment Year 2020-21 has been extended, however, in this case, it should be noted that there is no immunity provided from the levy of interest u/s 234A for filing of return of income by 15th February 2021 or 10th January 2021 from the due date specified in section 139(1) if the self-assessment tax liability exceeds Rs. 1 Lakh. The immunity or relief from levy of interest u/s 234A is provided only in a case where the self-assessment tax payable is upto Rs. 1 Lakh. In case the self-assessment tax payable is more than Rs. 1 Lakh, interest u/s 234A will be payable on the entire amount of the self-assessment tax from the expiry of original due dates prescribed u/s 139(1), that is, 31-07-2020 or 31-10-2020, as the case may be. The interest under section 234A shall not be levied if the self-assessment tax liability of taxpayer does not exceed Rs. 1 lakh and ITR is filed within the extended due date.

The final extended due dates for various categories of assessees for furnishing tax audit report and ITR forms for AY 2020-21 is given below-

TaxpayersDue Date prescribed u/s 139(1)Extended Due DateRemarks
For taxpayers subject to Tax Audit
Tax Audit Report30.09.202015.01.2021Earlier it was extended to 31.12.2020/31.10.2020
ITR Forms31.10.202015.02.2021Earlier it was extended to 31.01.2021/30.11.2020
For taxpayers Not subject to Tax Audit (Individuals, HUF, etc.)31.07.202010.01.2021Earlier it was extended to 31.12.2020/30.11.2020
For taxpayers Not subject to Tax Audit
(Companies, etc.)
31.10.202015.02.2021Earlier it was extended to 31.01.2021/30.11.2020
For taxpayers having international/ specified domestic transactions
Tax Audit Report31.10.202015.01.2021Earlier it was extended to 31.12.2020
ITR Forms30.11.202015.02.2021Earlier it was extended to 31.01.2021

Read the full text of the Press Release of the CBDT extending the due date of filing of returns and tax audit report for AY 2020-21

Government of India 
Ministry of Finance 
Department of Revenue 

New Delhi 30th December, 2020 

PRESS RELEASE  

Extension of time limits 

In view of the challenges faced by taxpayers in meeting the statutory and regulatory compliances due to the outbreak of COVID-19. the Government brought the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 ('the Ordinance') on 31st March. 2020 which, inter alia, extended various time limits. The Ordinance has since been replaced by the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act. 

2. The Government issued a Notification on 24th June, 2020 under the Ordinance which. inter alia, extended the due date for all Income Tax Returns for the FY 2019-20 (AY 2020-21) to 30th November, 2020. Hence, the returns of income which were required to be filed by 31st July. 2020 and 31st October, 2020 were required to be filed by 30th November, 2020. Consequently, the date for furnishing various audit reports including tax audit report under the Income-tax Act. 1961 (the Act) was also extended to 31st October, 2020. 

3. In order to provide more time to taxpayers for furnishing of Income Tax Returns. the due date was further extended vide notification No 88/2020/F. No. 370142/35/2020-TPL dated 29' October. 2020: 

(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 (i.e. before the said extension) as per the Act was 31st October. 2020] was extended to 31st January, 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 (i.e. before the said extension) as per the Act was 30th November. 2020] was extended to 31st January, 2021. 

(C) The due date for furnishing of Income Tax Returns for the other taxpayers [for whom the due date (i.e. before the said extension) as per the Act was 31st July, 2020] was extended to 31st December. 2020. 

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

4. Considering the problems being faced by the taxpayers. it has been decided to provide further time to the taxpayers for furnishing of Income Tax Returns. tax audit reports and declaration under Vivad Se Vishwas Scheme. Further. in order to provide more time to taxpayers to comply under various ongoing proceedings. the dates of completion of proceedings under various Direct Taxes & Benami Acts have also been extended. These extensions are as under: 

a. The due date for furnishing of Income Tax Returns for the Assessment Year 2020-21 for the taxpayers (including their partners) who are required to get their accounts audited and companies [for whom the due date, as per the provisions of section 139(1) of the Income-tax Act,1961, was 31st October, 2020 and which was extended to 30th November, 2020 and then to 31st January, 2021] has been further extended to 15th February. 2021. 

b. The due date for furnishing of Income Tax Returns for the Assessment Year 2020-21 for the taxpayers who are required to furnish report in respect of international/specified domestic transactions [for whom the due date, as per the provisions of section 139(1) of the Income-tax Act,1961, was 30th November, 2020 and which was extended to 31st January, 2021] has been further extended to 15th February, 2021. 

c. The due date for furnishing of Income Tax Returns for the Assessment Year 2020-21 for the other taxpayers [for whom the due date, as per the provisions of section 139(1) of the Income-tax Act, 1961, was 31st July, 2020 and which was extended to 30th November, 2020 and then to 31st December, 2020] has been further extended to 10th January, 2021. 

d. The date for furnishing of various audit reports under the Act including tax audit report and report in respect of international/specified domestic transaction for the Assessment Year 2020-21 has been further extended to 15th January, 2021. 

e. The last date for making a declaration under Vivad Se Vishwas Scheme has been extended to 31' January, 2021 from 31st December, 2020. 

f. The date for passing of orders under Vivad Se Vishwas Scheme, which are required to be passed by 30th January, 2021 has been extended to 31st January, 2021. 

g. The date for passing of order or issuance of notice by the authorities under the Direct Taxes & Benami Acts which are required to be passed/ issued/ made by 30th March, 2021 has also been extended to 31st March, 2021. 

5. Further, in order to provide relief for the third time to small and middle class taxpayers in the matter of payment of self-assessment tax, the due date for payment of self-assessment tax date is hereby again being extended. Accordingly, the due date for payment of self-assessment tax for taxpayers whose self-assessment tax liability is up to Rs. 1 lakh has been extended to 15' February, 2021 for the taxpayers mentioned in para 4(a) and para 4(b) and to 10' January, 2021 for the taxpayers mentioned in para 4(c). 

6. The Government has also extended the due date of furnishing of annual return under section 44 of the Central Goods and Services Tax Act. 2017 for the financial year 2019-20 from 31' December, 2020 to 28th February, 2021. 

7. The necessary notifications in this regard shall be issued in due course. 

Download Copy of Press Release Dated 30.12.2020 on the extension of the due date of filing of returns and tax audit report for AY 2020-21 in pdf format

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