We are thinking about the same thing that you are! After numerous ITR due date extensions for the FY 2019-20, can we expect another one now? Considering the roller-coaster 🎢 ride that the year 2020 has been, we don’t know what to expect anymore. 🤔
The initial date to file ITR (tax audit not applicable) was 31st July 2020 that was extended to 30th September 2020 which in turn was extended to 30th November 2020. Since the world was being controlled by aliens 👽(perhaps), obviously that was not enough. As a relief to the taxpayers, the due date was extended to 31st December 2020. Yet again, the thriller 😵 movie that we have been a part of was far from ending and the deadline had to be pushed to 10th January 2021. (if tax audit is not applicable)
Let’s look at the latest due date extensions that were announced on 30th December 2020, just a day before the former deadline. 😌(relief much?!)
Flashing News!!! (or so they say)#Extend_Due_Dates_Immediately https://t.co/yhkpplIAvW pic.twitter.com/jWZlyZIol5
— Quicko (@HowToQuicko) December 30, 2020
With the ITD announcing due date extensions a day before the deadline, do you think it is bound to happen again? We are as clueless as you are! 😕
In retrospect, we almost had a year to ourselves just to file our ITR. With so many extensions it is normal for people to think another one might be on its way. But should we really be relying on what ifs?
As per the Income Tax Department statistics, a total of 6,21,680 ITRs have been filed on January 8, 2021, up to 4 PM. Further, around 1 Lakh ITRs were filed in just an hour’s time! Crazy, right?!
Here are the statistics of Income Tax Returns filed today.
— Income Tax India (@IncomeTaxIndia) January 8, 2021
6,21,680 #ITRs have been filed upto 1600 hrs today & 1,08,117 #ITRs filed in the last 1hr.
For any assistance pl connect on https://t.co/3vqY9TK4jo. We will be glad to assist!@nsitharamanoffc @Anurag_Office@FinMinIndia
With only 2 days to go, it is time that we don’t hold our breath for ITR due date extension and act proactively. Do you think it is wise to wait till “tomorrow”? File your taxes in a jiffy and make the most out of your weekend!
Our weekend plans you ask? Depends on when you decide to file! 😛
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We don’t need a year to file our taxes when taxes have been made so simple. Check that one thing off your list and act now!
I think you should pay income tax before March 15 for current Financial Year.
For FY21 you should pay 100 % income tax due on or before 15th March 2021.
@TeamQuicko Can you clarify?
@ATDES is correct, you need to pay 100% of your tax liability in form of Advance tax before the 15th March of the financial year. Missing out on which may lead to interest u/s 234C and 234B
@vivek25, The last date of filing ITR when Tax Audit is not Applicable for AY 2021-22 is 30th September 2021. You can still pay self-assessment tax and declare it when filing your ITR
@Nireka Thanks.
My query relates to my senior citizen parents. I understand that they are not liable to pay advance tax.
So now after extension of due date for filing ITR, do they have time till Sept 2021 to pay self assessment tax as well? Hope I’m right?
@vivek25, in case the outstanding tax liability is above INR 10,000 you should pay self-assessment tax before 31st July to avoid interest, and you can file ITR before the applicable due date.