InvestorQ : Is the government likely to extend the deadline to file the IT returns further beyond 31 December?
ishika Banerjee made post

Is the government likely to extend the deadline to file the IT returns further beyond 31 December?

Answer
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5 months ago
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You must be aware that 31 December is the last date for filing returns for individuals and HUFs for the financial year 2019-20 corresponding to the assessment year 2020-21. Normally, the deadline for filing returns is July 31, but this year it has been extended till end of December due to the constraints created by the COVID pandemic.

There have been many people, like you, who have been asking if this deadline will get extended. As per the government’s latest announcement, they are not likely to postpone the date beyond 31 December. Hence my suggestion that you should wait in the hope that the last date would get further extended and you should file well in advance.

You would also find it relevant to know that as many as 3.98 crore taxpayers in India have already filed their income tax returns for the assessment year 2020-21 corresponding to the fiscal year 2019-20. This is as on 24 December and the numbers may have increased substantially since then. This has been reported by the CBDT.

The next fiscal year ends in 3 months and the government cannot keep postponing as it would put too much work load in the next few months. The deadline is unlikely to be extended so you should work on the assumption that 31 December will be the last date and work back accordingly.

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