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Govt rejects demand for further extension of returns filing date beyond Feb 15

The finance ministry has rejected the demand for further extension of the final date for filing returns the place audit is required beyond February 15.

Last month, the federal government had prolonged the earnings tax return (ITR) filing deadline for people until January 10, and for firms until February 15.

“CBDT passes order u/s 119 of Income-tax Act, 1961 in F No. 370153/39/2020-TPL dt 11th January, 2021, disposing off the representations for extension of due date for filing of Audit Report u/s 44AB, in compliance with the order of hon’ble Gujarat High Court dt 8th January, 2021,” the earnings tax division mentioned in a tweet on Monday.

This was in response to the Gujarat High Court order dated January 8, 2021 within the case of The All India Gujarat Federation of Tax Consultants versus Union of India directing the finance ministry to look into the problem of extension of due dates for filing of audit stories underneath Section 44AB of the Income Tax Act.

As per the provisions of the Act, the due date for filing of the audit report underneath Section 44AB is one month previous to the due date of filing of earnings tax return, it mentioned.

The due dates for cost of self-assessment tax for taxpayers whose quantity due doesn’t exceed Rs 1 lakh additionally coincide with the due dates for filing of ITR, it mentioned.

On December 30, 2020, the federal government had introduced extension of the final dates for filing of returns by people to January 10, 2021 from December 31, 2020.

In case of return for tax audit circumstances, the date was prolonged to February 15, from the sooner January 31. It was for the third time the tax division prolonged the dates.

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