What if you do not file your ITR for year ended 31st March 2020 by 10th January, 2021

• January 10, 2021
• CA Chandan Agarwal's Office

The due date for filing of the Income Tax Return (ITR) for the financial year 2019-2020 i.e. assessment year 2020-2021 for general category of taxpayers and which covers all salaried was 31^st July 2020 and  has since been extended till 10th January 2021 as of now. What happens in case you miss the bus and fail to file your ITR by the due date. for the assessment year 2020-2021? Let us discuss.

Is due date also the last date of filing of the ITR?

People are generally under the impression that the due date is also the last date beyond which you can not submit your ITR, which is not correct. There are two dates relevant for ITR filing. One is due date and the other is last date. In case you fail to submit your ITR  by the due date, you can still file it by the last date. The due date for submitting ITR for assessment year 2020-2021 was 31^st July 2020 and stands extended till 10th January 2021. However the last date is 31^st March 2021. However a few consequences will follow if you submit your ITR after the due date.

Read more on: https://taxguru.in/income-tax/file-itr-year-ended-31st-december.html