income tax
The Income Tax Department has demonstrated flexibility by regularly extending due dates in response to various circumstances. Taxpayers should be aware of the following important deadlines:
These varying dates have created confusion not only for taxpayers but also for some professionals, making it challenging to clarify differences in filing deadlines for clients. Unfortunately, several taxpayers mistakenly believed that the due date for filing income tax returns for AY 2019-20 had been extended to December 31, 2020, resulting in missed filings.
This ambiguity surrounding due dates has led to significant distress among taxpayers, many of whom are regular filers and comply with legal requirements. The upcoming deadlines for tax audits and income tax returns for AY 2020-21 further complicate matters, as taxpayers are faced with multiple activities and varied deadlines.
It is commendable that the government acknowledges the financial challenges and medical constraints faced by taxpayers during this period. However, given these difficulties, it would be beneficial for the government to consider extending the due dates for both assessment years to March 31, 2021. Such a measure would offer much-needed relief to taxpayers who genuinely intend to comply with tax obligations but are struggling due to the economic impact of the pandemic.
The ongoing financial crisis has placed a heavy burden on many, and the added pressure of compliance deadlines can exacerbate these challenges. The government has a unique opportunity to show solidarity with taxpayers grappling with financial hardship by extending filing dates.
In light of these considerations, it is a sincere request to reassess the current compliance and filing deadlines and offer an additional extension for income tax returns.