‘Pay penalty if not already filed I-T returns, no more extensions now’
   Date :13-Jan-2021

IT returns_1  H
THE Central Board of Direct Taxes dashed hopes of all taxpayers waiting for further extension of due dates for filing tax returns rejecting all representation in this regard, citing that the process cannot be delayed ‘indefinitely’ and hamper the functioning of the tax department and welfare programmes of the Government.
The decision means that individual taxpayers who have missed the January 10 deadline for filing returns may now have to pay a penalty to complete the process. Similarly, taxpayers who need to file audit report before filing returns will have to do so by January 15 and file their returns by February 15. The Income Tax department had received several representations to further extend dates for filing returns.