Tax filing dates for FY2020-21: Income tax refund, filing belated ITR

Tax filing is a yearly task for every Indian taxpayer. The government decides certain dates for tax filing and associated tasks by which these have to be done. Read the article ahead to find out important tax filing dates for FY2020-21.

Important tax filing dates for FY2020-21

The income tax return filing due date is the last day on which an IT return can be filed without incurring a late fee or penalty. For ITRs filed after the due date, taxpayers will be charged interest under Section 234A and a penalty under Section 234F.

It is crucial for all taxpayers to remember the income tax return filing date. Income tax filing last date for payroll-based individuals is July 31. In contrast, corporations subject to audit must file their ITR forms no later than September 30 following the end of that assessment year.

Also Read: What Documents To Keep Ready While Filing Your ITR?

What is the last date for filing income tax returns?

Last date for filing income tax returns

What are the consequences if you fail to file your tax return by the due date?

If the initial ITR is not filed by the last date of filing returns, it is still possible to file a belated return. You can request an extension. It is also specified by the income tax department when the overdue tax return must be submitted. Considering the difficulties faced by taxpayers due to the COVID situation in the country, as well as several technical glitches with the new income tax portal, the government has extended the due date to file belated IT returns for AY 2021-22 from December 31, 2021, to March 15, 2022.

Also Read: Missed The 31 December Deadline To File ITR? Here's What You Can Do Now


How do I get an income tax refund after the deadline has passed?

Only when you file your ITR will you receive a refund for your income tax. However, if you miss the tax deadlines for filing your ITR, you can file a late return on or before December 31 of the assessment year in which you missed the deadline.

How can I file an income tax return after the due date has passed for the year?

If you do so before the income tax return filing last date, you can file a late return on or before December 31 of the assessment year. The CBDT has extended the deadline for everybody filing a belated/revised return from December 31, 2021, to March 31, 2022, for the fiscal year 2020-21. The maximum penalty levied on taxpayers for missing the ITR filing deadline has been reduced from Rs 10,000 to Rs 5000 with effect from FY 2020-21.

Also Read: 3 Tax Filing Apps That Can Simplify Filing Income Tax Returns

What is the best way to revise one’s income tax return before the due date?

Due to some amendments, the taxpayer can use the revised return option under Section 139 (5) to revise the original return. By logging into the account and revising the details, it is possible to modify a return before it is due. When the return is revised, the entire process of e-verification must be conducted.


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