CBDT Clarify Income Tax for current financial Year
Extension of due date of furnishing of Income Tax Returns and Audit Reports for the current financial year, certain misinformation is being circulated in Social Multi Media pertaining to individual tax return filers.
- CBDT extends due date for furnishing Return of Income for the Assessment year 2025-2026 under the Income Tax Act 1961, Press Release, New Delhi, 29.10.2025
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Extension of due date of furnishing of Income Tax Returns and Audit Reports
Press Release
New Delhi, 24th October 2020
In view of the challenges faced by taxpayers in meeting the statutory (বিধিবদ্ধ) and regulatory (নিয়ন্ত্রক) compliances due to the outbreak of COVID-2019, the Government (সরকার) brought the Taxation and Other Powers (Relaxation of Some Provisions) Ordinance, 2020 ('Ordinance') March 31, 2020 which extends various deadlines. The Ordinance has since been replaced by the Taxation (কর) and Other Laws (Relaxation and Amendment of Certain Provisions) Act.
2. Under the ordinance, the government issued a notification on June 22, 2020, which, otherwise, extended the due date for all income tax returns for the 2010-2010 financial year. (AY 2020-2021) to 30th November, 2020. Hence, the returns of income (আয়) which were required to be filed by 31st July, 2020 and 31st October, 2020 are required (প্রয়োজন) to be filed by 30th November, 2020. Consequently, the date for furnishing various audit reports including tax audit report under the Income Tax Act, 1961 (the Act) has also been extended to 31st October, 2020.
3. In order to provide more time to taxpayers for furnishing of Income Tax Returns, it has been decided to further extend the due date for furnishing of Income Tax Returns as under:
(A) The due date for furnishing of Income Tax (আয়কর) Returns for the taxpayers (including their partners) who are required to get their accounts audited for whom the due date (i.e. prior to this extension, the said notification has been extended to 31st October, 2020) by 31st January, 2021 as per law.
(B) The due date for furnishing of Income Tax Returns (আয়কর রিটার্ন) for the taxpayers who are required to furnish report in respect of international (আন্তর্জাতিক)/specified domestic transactions (for whom the due date (i.e. prior to the extension by the mentioned notification) as per the Act is 30th November, 2020) has been extended to 31st January, 2021.
(C) Dates due for filing of income tax returns of other taxpayers for whom the due date (i.e. that is, before the extension (বর্ধিত) by the said notification) as per the Act was 31st July, 2020) has been extended to 31.12.2020.
4. Consequently (অতএব), the date for furnishing of various audit reports under the Act including tax audit report and report in respect of international (আন্তর্জাতিক) /specified domestic transaction has also been extended to 31st December, 2020.
5. Further, in order to provide relief to small and middle class (মধ্যবিত্ত) taxpayers, the said notification dated 24th June, 2020 had also extended the due date for payment of self-assessment tax for the taxpayers whose self-assessment tax (স্ব-মূল্যায়ন কর) liability is up to Rs. 1 lakh. Accordingly, the due date for payment of self-assessment tax (স্ব-মূল্যায়ন কর) for the taxpayers who are not required to get their accounts audited was extended from 31st July, 2020 to 30th November, 2020 and for the auditable cases, this due date was extended (সম্প্রসারিত) from 31st October, 2020 to 30th November, 2020.
6. In order to provide relief for the second time to small (ছোট) and middle class taxpayers in the matter of payment of self-assessment tax, the due date for payment of self-assessment tax date is hereby against being extended. Accordingly, the due date for payment of self-assessment tax taxpayers whose self-assessment tax liability is up to Rs. 1 lakh has been extended (সম্প্রসারিত) to 31st January, 2021 for the taxpayers (করদাতা) mentioned in para 3(A) and para 3(B) and to 31st December, 2020 for the taxpayers (করদাতারা) mentioned in para 3(C).
7. The necessary notification in this regard shall be issued in due course.
Sd/- Surabhi Ahluwalia
Commissioner of Income Tax
(Media & Technical Policy)
Office Spokesperson, CBDT
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CBDT Clarifies
Certain misinformation is being circulated in Social Multi Media pertaining to individual return filers
During the current financial year 2019-2020, 5.78 crore individuals filed returns disclosing Income of financial year 2018-19. Out of these, 1.03 crore individuals (ব্যক্তি) have shown Income (কর) below Rs. 2.5 lakh & also 3.29 crore individuals disclosed taxable Income between Rs. 2.5 lakh to Rs. 5 lakh.
Out of 5.78 crore returns filed during this financial year, 4.32 crore individuals have disclosed Income up to Rs. 5 lakh.
The Finance Act, 2019 has exempted (ছাড়) individual tax payers having Income up to Rs. 5 lakh. Therefore, these 4.32 crore individual tax payers having Income up to Rs. 5 lakh shall not be liable to pay tax for the current financial year 2019-2020 and subsequent years.
Hence, only around 1.46 crore individual tax payers are liable to pay Income-Tax (TI). Further, around 1 crore individuals disclose Income between Rs.5-10 lakh and only 46 lakh individual tax payers have disclosed Income above Rs. 10 lakh.
Only 3.16 lakh individual tax (ব্যক্তিগত কর) payers have disclosed Income above Rs. 50 lakh. Total number of individual tax payers who have disclosed Income above Rs.5 crore in India is only around 8600.
In the ITRs filed by individuals in current financial year, only about 2200 Doctors, Chartered Accountants, Lawyers and such other professionals have disclosed annual income of more than Rs. 1 crore from their profession (excluding other incomes like rental, interest, capital grants etc.).
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Updated news regarding CBDT
Updated news of Clarification, Notification and Memorandum by Income Tax of India & Central Board of Direct Taxes, Government of India (CBDT).
Sl. No | Subject/Purpose/Notification/Circular | Download PDF |
1. | CBDT extends due date for furnishing Return of Income for the Assessment year 2025-2026 under the Income Tax Act 1961 | Press Release New Delhi, 29.10.2025 |
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