Ministry of Finance has issued a Press Release through the official twitter handle dated 30th December, 2020 to further extension of due date in furnishing of Income Tax Return and Audit Report for A.Y 2020-21 under Income Tax Act, 1961.

Key points of the Press Release are:

1. The due date for furnishing of Income Tax Returns for the taxpayers (including their partners) who are required to get their accounts audited and companies for whom the due date as per the Act was 31st October, 2020 (which was extended to 30th November, 2020 and then to 31st day of January, 2021) has been further extended till 15^th day of February, 2021.
2. 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 Act was 30th November, 2020 (which was extended to 31st day of January, 2021) has been further extended till 15^th day of February, 2021.
3. The due date for furnishing of Income Tax Returns for the other taxpayers for whom the due date as per the Act was 31st July, 2020 (which was extended to 30th November, 2020 and then to 31st day of December, 2020) has been further extended till 10th day of January, 2021.
4. The due 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 15^th day of January, 2021.
5. For taxpayers whose self-assessment tax liability is up to INR 1 lakh the due date for payment of self-assessment tax has been extended to 15^th day of February, 2021 for the taxpayers mentioned in point 1 and 2 above and to 10^th day of January, 2021 for the taxpayers mentioned in point 3 above.
6. The last date for making declaration under Vivad se Vishwas Scheme has been extended till 31^st day of January, 2021.

We will share the relevant Notification once it is out in public domain.

Source: CBDT- Official Twitter Handle

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