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Govt extended deadlines for direct and indirect tax compliance

The government has extended the due dates for various tax filings, including for making declaration under the direct tax dispute resolution scheme Vivad Se Vishwas, in view of the difficulties faced by taxpayers due to the Covid-19 pandemic. Along with this, the government has extended the date for filing annual returns under GST for financial year 2019-20 to February 28 from the previous deadline of 31st December 2020.

For salaried employees, the deadline for filing income tax returns for the current assessment year (AY 2020-21) has been pushed by 10 days to 10th January 2021. Similarly, for direct tax assessees who are required to get their personal and company’s account audited, the deadline has now been extended to 15th February 2021 from 31st January 2020.

The same has been done for assessees who are required to furnish report in respect of international/specified domestic transactions, the government said in a statement. Additionally, the due date for making declaration under Vivad se Vishwas scheme has been extended by a month to 31st January 2021.

It also added that the due date for payment of self-assessment tax for taxpayers whose tax liability is up to ₹1 lakh has been extended to 15th February and for others, it would now be 10th January.

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