Income Tax; ITR; Income Tax Return; The Income Tax Department has extended the last date for filing the Billed and Revised Income Tax Return, now the returns will be filled till May 31 | The Income Tax Department has extended the last date for filing the Billited and Revised Income Tax Return, now the returns will be filled till May 31

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The last date for filing the Billited or Revised Income Tax Return (ITR) for the financial year 2019-20 has been extended to 31 May. While giving relief to taxpayers in the Corona era, the Income Tax Department has decided to increase the deadline of many works.

According to this order issued by the Finance Ministry, for the assessment year 2020-21 (FY 2019-20), under the sub-sections 4 and 5 of section 139 of the Income Tax Act 1961, the return of the return and the revised return from two months. It is being extended to 31 May 2021. Earlier this deadline was coming to an end on 31 March 2021.

What is billeted and revised returns?
A bilated return is filed after the original deadline for filing returns for a financial year is over. For this, the taxpayer has to pay a penalty. Revised returns are filed when a mistake is made while filing the original return. The bilated ITR is filed under section 139 (4) of the Income Tax Act, 1961. At the same time, Revised ITR is filed under section 139 (5). The bilated return is to be deposited with a late filing fee of 10 thousand rupees.

The last date of these things also went ahead

Returns for the financial year 2020-21 to be filled by 31 July
Income tax returns for the financial year 2020-21 are to be filed by 31 July. By this date, you will not have to pay any additional charges if you file income tax.