The COVID-19 pandemic has changed a lot of things around the world and one of them was the deadline to file our Income Tax returns. The usual deadline for filing these returns is July 31 but the prolonged lockdown due to COVID-19 forced the government to keep delaying this deadline.
The first time the deadline was extended from July 31, 2020 to November 30, 2020 which was then extended to December 31, 2020. Finally, the latest deadline for the individual tax payers for the financial year 2019-20 is January 10, 2021.
The due date for filing declaration under the direct tax dispute resolution scheme ‘Vivad Se Vishwas’ has also been extended by a month till January 31. Additionally, the date for filing GST annual return for 2019-20 fiscal has been extended by two months till February 28, 2021.
More than 5.08 crore income tax returns (ITRs) for fiscal 2019-20 have been filed till January 5, the Income Tax Department had said on Wednesday.
Over 2.7 crore ITR-1 have been filed till January 5, lower than 3.1 crore filed till September 5, 2019. With regard to ITR-4, it said, 1.16 crore returns have been filed till January 5 as compared to 1.28 crore till September 5, 2019.
Returns in ITR-1 Sahaj are filed by individuals whose total income does not exceed Rs 50 lakh, while form ITR-4 Sugam is meant for individuals, Hindu Undivided Families (HUFs) and firms (other than Limited Liability Partnership ) having a total income of up to Rs 50 lakh and having presumptive income from business and profession.
Here’s how you can file your ITR through the official Income Tax department website…
1. Visit the income tax department's portal
2. On the portal (www.incometaxindiaefiling.gov.in) for filing returns online, register yourself using your Permanent Account Number (PAN). Your PAN will be your user ID. If already registered yourself, click on 'Log in here' on the website
3. Login and click on the e-file option or on the ‘Income Tax Return’ link. Select the correct assessment year, ITR form number, the filing type as 'original/revised return', the submission mode as 'prepare and submit online', then click on continue.
4. Read the instructions and fill in all the mandatory details in the form. Calculate the final tax payable and then proceed.
5. After calculating the tax, confirm all the tabs of the ITR form. Select the correct verification option in the 'taxes paid and verification' tab. Click on 'preview and submit'
6. Verify returns using the Electronic Verification Code (EVC) or Aadhaar OTP or digital signature certificate.
7. Enter the EVC or the OTP received on your mobile number within one minute.
