Research Intern – Governance Studies. [1] Due to the COVID-19 pandemic, the filing deadline for tax returns in 2020 was extended from April 15th, 2020 to July 15th, 2020. The federal government again extended this year’s federal income tax filing deadline from April 15, 2021, to May 17, 2021.
Are taxes postponed 2021?
Due to the COVID-19 pandemic, the federal government extended this year’s federal income tax filing deadline from April 15, 2021, to May 17, 2021. In addition the IRS further extended the deadline for Texas, Oklahoma and Louisiana residents to June 15. These extensions are automatic and applies to filing and payments.
What happens if return is not filed on or before due date?
After this amendment deduction will be available only if return is filed on or before due date .In other words below deduction is not allowed if return is not filed on or before due date Deductions which are covered in heading “C.—Deductions in respect of certain incomes” in Chapter VIA are –
What is penalty for not filing tax return by due date?
According to which: you will have to pay penalty of Rs 5,000 if the returns are not filed by due date but before December 31. In case there is further delay the penalty would be Rs 10,000. However, in case the total income is less than Rs 5 lakh, the penalty should not exceed Rs 1,000. 2. Calculate your Tax liability for FY 2018-19 (AY 2019-20) 3.
When is due date to file income tax return?
T he due date for filing income tax returns for individuals is July 31, 2019. Most taxpayers may be preparing and be in process of filing their tax returns. However there are people who may not be able to file their returns before due date or are too lazy to file their returns.
When to file return for half year ended 30 th September?
For the half year ended on 30 th September, it filed its return on:- Case I: 9 th November Case II: 23 rd November Case III: 25 th January Determine the amount of late fee payable by BCC Ltd. in each of the independent cases Due date for filing return for April to September is 25 th October
