DUE DATE TO FILE INCOME TAX RETURN FOR FY 2018-19 & 2019-20 EXTENDED TO 30TH NOV 20.

[PM]

For Information:

Due Date to File ITR for FY 2018-19 AY 2019-20 Extended to 30 November 2020

Considering the genuine difficulties being faced by taxpayers, Income Tax Dept has further extended the deadline to file belated/ revised ITR for AY 2019-20. Now 30th November, 2020 is the last date for filing ITR for both AY 2019-20 and AY 2020-21. Order has been issued.

On further consideration of genuine difficulties being faced by taxpayers due to the Covid-19 situation, CBDT further extends the due date for furnishing of belated & revised ITRs for Assessment Yr 2019-20 from 30th September, 2020 to 30th November, 2020.Order u/s 119(2a) issued.

Pl.see the order below:

[Mathew Pc]

Is there any penalty for filing the return for FY 2018-19?

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[PM]

Sir,

The due date of filing Income Tax returns for Financial Year 2018-19 (Assessment Year 2019-20) was 31/07/2019 and same is further extended now to 30th Nov2020.as per above notification.

If the Income-tax return is filed within due date /extended date no fee (penalty) will be levied.

For your information:Under Income Tax Act, a new section 234F has been inserted,w.e.f 1st April 2018,as follows:-


"234F. Fees for default in furnishing return of income.—(1) Without prejudice to the provisions of this Act, where a person required to furnish a return of income under section 139, fails to do so within the time prescribed in sub-section (1) of said section, he shall pay, by way of fee, a sum of,—

(a) five thousand rupees, if the return is furnished on or before the 31st day of December of the assessment year;

(b ten thousand rupees in any other case:

Provided that if the total income of the person does not exceed five lakh rupees, the fee payable under this section shall not exceed one thousand rupees.

(2) The provisions of this section shall apply in respect of return of income required to be furnished for the assessment year commencing on or after the 1st day of April, 2018.".

On Thursday, 1 October 2020 15:50:19 UTC+5:30, pazhempally wrote:
> Is there any penalty for filing the return for FY 2018-19?
>
>
> On Thu 1 Oct, 2020, 8:14 AM PM, <moha...@gmail.com> wrote:
> For Information:
>
>
>
>
>
> Due Date to File ITR for FY 2018-19 AY 2019-20 Extended to 30 November 2020
>
>
>
> Considering the genuine difficulties being faced by taxpayers, Income Tax Dept has further extended the deadline to file belated/ revised ITR for AY 2019-20. Now 30th November, 2020 is the last date for filing ITR for both AY 2019-20 and AY 2020-21. Order has been issued.
>
>
>
> On further consideration of genuine difficulties being faced by taxpayers due to the Covid-19 situation, CBDT further extends the due date for furnishing of belated & revised ITRs for Assessment Yr 2019-20 from 30th September, 2020 to 30th November, 2020.Order u/s 119(2a) issued.
>
>
>
> Pl.see the order below:
>
>
>
> --
>
> Visit our blog site http:://bankpensioner.blogspot.com
>
> ---
>
> You received this message because you are subscribed to the Google Groups "bankpensioner" group.
>

> To unsubscribe from this group and stop receiving emails from it, send an email to bankpe...@googlegroups.com.

[Mathew Pc]

Sirs,

I have no tax liability for the FY 2018-19. However I could not file my NIL return for the year 2018-19.

 Now the time limit for filing return extended to 30.11.2020. I tried to file my return in Sept and the system is asking to remit penalty. 

Is it happens as the system is not updated or the penalty still remains?

Fraternity may advice.

Thanks and regards

On Thu 1 Oct, 2020, 8:14 AM PM, <moha...@gmail.com> wrote:

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[PM]

Dear Mr.Mathew,

01. You may be liable to file your income tax return (ITR) for FY 2018-19( belated),only if your income is above the taxable limit,or in case you have to get any refund on tax already paid.

02.However Government has introduced certain criteria from Financial Year 2019-20 that make individuals liable to file ITR, even if their
gross total income is below the threshold limit of ₹2.5 lakhs (in case of individuals below 60 years),or ₹3 lakh (in case of 60-79 years) but you meet any of the new criteria, you will have to file ITR.

Under the seventh proviso to Section 139(1) of the Income-tax Act, 1961, even if the income is below the exempted limit, a person will have to file ITR in case he or she meets any one of the following criteria:

a) paid an electricity bill of ₹1 lakh or more during the year;

b) incurred an expenditure of ₹2 lakh or more for travel to a foreign country for self or any other person;

c) deposited an amount of over ₹1 crore or more in one or more current accounts.

03. Details on penalty as per IT act has already furnished in my earlier reply.Normally e.filing site will show exact data /details once the input are correct.

On Friday, 2 October 2020 16:40:09 UTC+5:30, pazhempally wrote:
> Sirs,
>
>
> I have no tax liability for the FY 2018-19. However I could not file my NIL return for the year 2018-19.
>  Now the time limit for filing return extended to 30.11.2020. I tried to file my return in Sept and the system is asking to remit penalty. 
> Is it happens as the system is not updated or the penalty still remains?
>
>
> Fraternity may advice.
>
>
> Thanks and regards
>
>
>
>
> On Thu 1 Oct, 2020, 8:14 AM PM, <moha...@gmail.com> wrote:
> For Information:
>
>
>
>
>
> Due Date to File ITR for FY 2018-19 AY 2019-20 Extended to 30 November 2020
>
>
>
> Considering the genuine difficulties being faced by taxpayers, Income Tax Dept has further extended the deadline to file belated/ revised ITR for AY 2019-20. Now 30th November, 2020 is the last date for filing ITR for both AY 2019-20 and AY 2020-21. Order has been issued.
>
>
>
> On further consideration of genuine difficulties being faced by taxpayers due to the Covid-19 situation, CBDT further extends the due date for furnishing of belated & revised ITRs for Assessment Yr 2019-20 from 30th September, 2020 to 30th November, 2020.Order u/s 119(2a) issued.
>
>
>
> Pl.see the order below:
>
>
>
> --
>
> Visit our blog site http:://bankpensioner.blogspot.com
>
> ---
>
> You received this message because you are subscribed to the Google Groups "bankpensioner" group.
>

> To unsubscribe from this group and stop receiving emails from it, send an email to bankpe...@googlegroups.com.

[Mathew Pc]

Sirs,

I know all the ground rules. But the system is asking to remit penalty. That is the only issue on which I sought suggestions.

Thanks and Regards

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[R Balaji]

Through the browser you make the penalty amt as zero

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[Mathew Pc]

Thanks. Will try.

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