Income Tax Return Filing: CBDT makes significant announcement in wake of coronavirus pandemic

The Central Board of Direct Taxes (CBDT) extended the deadline for filing belated and revised ITRs for Assessment Year 2019-20 from September 30, 2020, to November 20, 2020, on Wednesday due to challenges people are facing amid the coronavirus pandemic. 

In a tweet, CBDT wrote, "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,."

 September 30, 2020

For the uninformed, earlier, CBDT had extended the deadline for filing income tax returns for 2018-19 fiscal and revised ITRs from 31st July 2020 to 30th September 2020.

Do you know the difference between the revised income tax return and a belated income tax return?

What is the revised income tax return and Who needs to file?

Revised return can be filed online under Section 139(5) of the Income Tax Act. If a person finds any mistake, omission, or any wrong statement then he/she is liable for a revised ITR filing. 

What is a Belated return?

An income-tax return that is filed after the due date is called Belated Return. 

How to file a Revised and Belated income tax return?

The process of filing a belated return is the same as that of filing regular ITR. All you need to do is select the ITR form that is applicable to you. One has to choose the assessment year for which you are filing the belated return.