Due Dates for filing Income Tax Return

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Due Dates for filing Income Tax Return

The Income-tax department in Sec 139 on the Income Tax Act has mandated due dates for filing the income tax returns based on the type of the assessee or taxpayer. Let’s understand the different categories of taxpayers and due dates for filing Income Tax Return (ITRs) for FY 2019-20 &  for AY 2020-21.

Category of Taxpayer Due Date for ITR Filing – FY 2019-20 / AY 2020-21
Individual 10th Jan 2021
Hindu Undivided Family (HUF) 10th Jan 2021
Association of Persons (AOP) 10th Jan 2021
Body of Individuals (BOI) 10th Jan 2021
Businesses with Audit Requirement 15th Feb 2021 (Tax Audit Report -15th Jan 2021)
Businesses with TP Report Requirement 15th Feb 2021 (Transfer Pricing Report – 15th Jan 2021)
The various categories in which taxpayers are categorized include:
Individuals:

Individuals include all the people having taxable income / PAN in their individual capacity; like salaried people, self-employed people, senior citizens, minors, etc. The due date for filing tax returns of the Individual assessee whose books of accounts are not subject to audit u/s 44AB is “10th January 2021” for Financial Year 2019-20 (Assessment Year 2020-21).

For Individual assessee whose books of accounts are subject to audit u/s 44AB  The due date for furnishing the tax audit report is 15th january 2021 but filing the tax return of such assessees will be 15th February 2021.

Hindu Undivided Family:

The due date for filing tax returns of HUF assessee is “10th January 2021” for Financial Year 2019-20 or Assessment Year 2020-21.

For HUF assessee whose books of accounts are subject to audit u/s 44AB  The due date for furnishing the tax audit report is 15th January 2021 but filing the tax return of such assessees will be 15th February 2021.

Association of Persons (AOP) / Body of Individuals (BOI):

The due date for filing the tax return of AOP or BOI  is “10th January 2021” for Financial Year 2019-20 or Assessment Year 2020-21.

An AOP is a group of people (i.e. individuals, HUF, companies, firms, etc.) who come together for a common purpose. This doesn’t mean that every combination of persons is an AOP. An AOP will be only where they associate themselves in an income-generating activity. In case of income of AOP, the AOP alone shall be taxed and the members of the AOP cannot be taxed individually in respect of the income of the AOP.

A BOI means a group of individuals (and individuals only) who come together for a common purpose whether or not to earn income.

Partnership Firm

The due date for filing tax returns of Partnership Firm is “10th January 2021” for Financial Year 2019-20 or Assessment Year 2020-21.

However,

If the partnership firm is required to get its accounts audited u/s 44AB then the due date for filing the tax return is 31st January 2021 but the due date of the tax audit report is 15th February 2021.

If the partnership firm is required to file a transfer pricing report then the due date for filing the tax return is 31st January 2021 but the due date of the tax audit report is 15th February 2021.

Limited Liability Partnership (LLP)

The due date for filing tax returns of Limited Liability Partnership (LLP) is “10th January 2021” for Financial Year 2019-20 or Assessment Year 2020-21.

However,

If the Limited Liability Partnership (LLP) is required to get its accounts audited u/s 44AB then the due date for filing the tax return is 15th February 2021 but the due date of the tax audit report is 15th January 2021.

If the Limited Liability Partnership (LLP) is required to file a transfer pricing report then the due date for filing the tax return is 15th February 2021 but the due date of the tax audit report is 15th January 2021.

Co-operative Societies

Co-operative societies are mandatorily required to get its accounts audited, the due date of filing a tax return is 10th January 2021 for FY 2019-20(AY 2021-21).

Businesses with Audit Requirements

For any business which is required to get its accounts audited under the Income Tax Act, then the due date for furnishing the tax audit report is 15th January 2021 but filing the tax return of such assessees will be 31st February 2021.

Businesses with Transfer Pricing Requirements

For any business which involves cross-border transactions and is required to file a Transfer Pricing Report under the Income Tax Act, then the due date for furnishing the tax audit report is 15th January 2021 but filing the tax return of such assessees will be 15th February 2021.

Corporates:

The due date for filing the tax return by the companies is 10th January 2021 for Financial Year 2019-20 or Assessment Year 2020-21.

In case the company which is required to get its accounts audited under the Income Tax Act, then the due date for furnishing the tax audit report is 15th January 2021 but filing the tax return of such assessees will be 15th February 2021.

In case the company has various cross-border transactions and has a requirement of Transfer Pricing policy/report under the Income Tax Act, then the due date for furnishing the tax audit report is 15th January 2021 but filing the tax return of such assessees will be 15th February 2021.



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About CA Janhavi Phadnis 78 Articles
Chartered Accountant and financial consultant. She has worked with corporates for 14 years with expertise in Forex-Treasury, Accounting, and Corporate Tax. She can be contacted at info.financepost@gmail.com

2 Comments

  1. Due date for filing of returns for company will be 30th September or Nov. only when it is subjected to audit or transfer pricing audit.

    If company accounts are not audited ( new formed co. Allowed to file first financial of 15 months ) due date will be 31st July.

    • The companies are mandatorily required to get it’s account audited. Hence the due date for filing ITR will remain as 30th Sep.

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