Income Tax

CBDT Extends ITR and Tax Audit Due Dates for AY 2025-26: Key Updates and Impact

Posted on by Fastlegal Team

The Central Board of Direct Taxes (CBDT) has granted a significant extension in the due dates for filing income tax returns and tax audit reports for the Assessment Year 2025-26, providing relief to taxpayers facing audit requirements.[1][2][3]

Latest Extended Due Dates

For entities whose accounts are subject to mandatory audit under the Income Tax Act:

  • The new due date for furnishing the Income Tax Return (ITR) is now December 10, 2025, extended from the previous deadline of October 31, 2025.[4][2][3][1]
  • The due date for submitting the tax audit report has been extended to November 10, 2025.[2][3][5][1]

Reason Behind the Extension

This extension follows a series of High Court rulings from Gujarat, Punjab & Haryana, and Himachal Pradesh directing that the gap between the tax audit report due date and the ITR filing should be at least one month. Various stakeholders and professional bodies highlighted difficulties due to disruptions like floods and other natural calamities, which affected timely completion of audits. As a result, the CBDT acted upon judicial directions and taxpayer representations to provide additional time for compliance.[6][7][1]

Applicability of the Extension

  • The extended timeline applies to companies, firms, and individuals whose accounts are required to be audited under clause (a) of Explanation 2 to sub-section (1) of Section 139 of the Income Tax Act.[3][2]
  • Non-audit taxpayers continue to follow the previously notified return dates, such as September 16, 2025, for FY 2024-25 (AY 2025-26).[8][9]

Key Official Notifications

  • CBDT issued official press releases and circulars detailing the revised deadlines for both tax audit reports and return filing.[10][2]
  • Stakeholders are encouraged to refer to the latest circulars and notifications available on the Income Tax Department’s portal for detailed information and updates.[11][8]

Impact and Compliance

  • The extensions aim to ensure smoother processes for professionals and taxpayers, mitigate compliance challenges, and maintain the integrity of the tax reporting process in light of unforeseen difficulties.[12][6]
  • Tax professionals now have additional time to finalize audits and returns, reducing the usual rush as deadlines approach.

Summary Table

Compliance Old Due Date Extended Due Date Tax Audit Report (AY 2025-26) October 31, 2025 November 10, 2025 Income Tax Return (Audit cases, AY 2025-26) October 31, 2025 December 10, 2025 Income Tax Return (Non-audit cases, AY 2025-26) September 15-16, 2025 September 16, 2025

CBDT Extends ITR and Tax Audit Due Dates for AY 2025-26: Key Updates and Impact

Posted on by Fastlegal Team

The Central Board of Direct Taxes (CBDT) has granted a significant extension in the due dates for filing income tax returns and tax audit reports for the Assessment Year 2025-26, providing relief to taxpayers facing audit requirements.[1][2][3]

Latest Extended Due Dates

For entities whose accounts are subject to mandatory audit under the Income Tax Act:

  • The new due date for furnishing the Income Tax Return (ITR) is now December 10, 2025, extended from the previous deadline of October 31, 2025.[4][2][3][1]
  • The due date for submitting the tax audit report has been extended to November 10, 2025.[2][3][5][1]

Reason Behind the Extension

This extension follows a series of High Court rulings from Gujarat, Punjab & Haryana, and Himachal Pradesh directing that the gap between the tax audit report due date and the ITR filing should be at least one month. Various stakeholders and professional bodies highlighted difficulties due to disruptions like floods and other natural calamities, which affected timely completion of audits. As a result, the CBDT acted upon judicial directions and taxpayer representations to provide additional time for compliance.[6][7][1]

Applicability of the Extension

  • The extended timeline applies to companies, firms, and individuals whose accounts are required to be audited under clause (a) of Explanation 2 to sub-section (1) of Section 139 of the Income Tax Act.[3][2]
  • Non-audit taxpayers continue to follow the previously notified return dates, such as September 16, 2025, for FY 2024-25 (AY 2025-26).[8][9]

Key Official Notifications

  • CBDT issued official press releases and circulars detailing the revised deadlines for both tax audit reports and return filing.[10][2]
  • Stakeholders are encouraged to refer to the latest circulars and notifications available on the Income Tax Department’s portal for detailed information and updates.[11][8]

Impact and Compliance

  • The extensions aim to ensure smoother processes for professionals and taxpayers, mitigate compliance challenges, and maintain the integrity of the tax reporting process in light of unforeseen difficulties.[12][6]
  • Tax professionals now have additional time to finalize audits and returns, reducing the usual rush as deadlines approach.

Summary Table

Compliance Old Due Date Extended Due Date Tax Audit Report (AY 2025-26) October 31, 2025 November 10, 2025 Income Tax Return (Audit cases, AY 2025-26) October 31, 2025 December 10, 2025 Income Tax Return (Non-audit cases, AY 2025-26) September 15-16, 2025 September 16, 2025

CBDT Extends ITR and Tax Audit Due Dates for AY 2025-26: Key Updates and Impact

Posted on by Fastlegal Team

The Central Board of Direct Taxes (CBDT) has granted a significant extension in the due dates for filing income tax returns and tax audit reports for the Assessment Year 2025-26, providing relief to taxpayers facing audit requirements.[1][2][3]

Latest Extended Due Dates

For entities whose accounts are subject to mandatory audit under the Income Tax Act:

  • The new due date for furnishing the Income Tax Return (ITR) is now December 10, 2025, extended from the previous deadline of October 31, 2025.[4][2][3][1]
  • The due date for submitting the tax audit report has been extended to November 10, 2025.[2][3][5][1]

Reason Behind the Extension

This extension follows a series of High Court rulings from Gujarat, Punjab & Haryana, and Himachal Pradesh directing that the gap between the tax audit report due date and the ITR filing should be at least one month. Various stakeholders and professional bodies highlighted difficulties due to disruptions like floods and other natural calamities, which affected timely completion of audits. As a result, the CBDT acted upon judicial directions and taxpayer representations to provide additional time for compliance.[6][7][1]

Applicability of the Extension

  • The extended timeline applies to companies, firms, and individuals whose accounts are required to be audited under clause (a) of Explanation 2 to sub-section (1) of Section 139 of the Income Tax Act.[3][2]
  • Non-audit taxpayers continue to follow the previously notified return dates, such as September 16, 2025, for FY 2024-25 (AY 2025-26).[8][9]

Key Official Notifications

  • CBDT issued official press releases and circulars detailing the revised deadlines for both tax audit reports and return filing.[10][2]
  • Stakeholders are encouraged to refer to the latest circulars and notifications available on the Income Tax Department’s portal for detailed information and updates.[11][8]

Impact and Compliance

  • The extensions aim to ensure smoother processes for professionals and taxpayers, mitigate compliance challenges, and maintain the integrity of the tax reporting process in light of unforeseen difficulties.[12][6]
  • Tax professionals now have additional time to finalize audits and returns, reducing the usual rush as deadlines approach.

Summary Table

Compliance Old Due Date Extended Due Date Tax Audit Report (AY 2025-26) October 31, 2025 November 10, 2025 Income Tax Return (Audit cases, AY 2025-26) October 31, 2025 December 10, 2025 Income Tax Return (Non-audit cases, AY 2025-26) September 15-16, 2025 September 16, 2025

CBDT Extends ITR and Tax Audit Due Dates for AY 2025-26: Key Updates and Impact

Posted on by Fastlegal Team

The Central Board of Direct Taxes (CBDT) has granted a significant extension in the due dates for filing income tax returns and tax audit reports for the Assessment Year 2025-26, providing relief to taxpayers facing audit requirements.[1][2][3]

Latest Extended Due Dates

For entities whose accounts are subject to mandatory audit under the Income Tax Act:

  • The new due date for furnishing the Income Tax Return (ITR) is now December 10, 2025, extended from the previous deadline of October 31, 2025.[4][2][3][1]
  • The due date for submitting the tax audit report has been extended to November 10, 2025.[2][3][5][1]

Reason Behind the Extension

This extension follows a series of High Court rulings from Gujarat, Punjab & Haryana, and Himachal Pradesh directing that the gap between the tax audit report due date and the ITR filing should be at least one month. Various stakeholders and professional bodies highlighted difficulties due to disruptions like floods and other natural calamities, which affected timely completion of audits. As a result, the CBDT acted upon judicial directions and taxpayer representations to provide additional time for compliance.[6][7][1]

Applicability of the Extension

  • The extended timeline applies to companies, firms, and individuals whose accounts are required to be audited under clause (a) of Explanation 2 to sub-section (1) of Section 139 of the Income Tax Act.[3][2]
  • Non-audit taxpayers continue to follow the previously notified return dates, such as September 16, 2025, for FY 2024-25 (AY 2025-26).[8][9]

Key Official Notifications

  • CBDT issued official press releases and circulars detailing the revised deadlines for both tax audit reports and return filing.[10][2]
  • Stakeholders are encouraged to refer to the latest circulars and notifications available on the Income Tax Department’s portal for detailed information and updates.[11][8]

Impact and Compliance

  • The extensions aim to ensure smoother processes for professionals and taxpayers, mitigate compliance challenges, and maintain the integrity of the tax reporting process in light of unforeseen difficulties.[12][6]
  • Tax professionals now have additional time to finalize audits and returns, reducing the usual rush as deadlines approach.

Summary Table

Compliance Old Due Date Extended Due Date Tax Audit Report (AY 2025-26) October 31, 2025 November 10, 2025 Income Tax Return (Audit cases, AY 2025-26) October 31, 2025 December 10, 2025 Income Tax Return (Non-audit cases, AY 2025-26) September 15-16, 2025 September 16, 2025

0

Understanding Company Income Tax Filing for FY 24-25: Due Dates, Rates & Key Pitfalls

Posted on by Fastlegal Team

Every financial year, companies must navigate a maze of deadlines, tax regime choices, and compliance obligations. For FY 2024-25 (Assessment Year 2025-26), several changes and reminders are especially relevant. This article provides a practical guide to help companies, CAs, and in-house tax teams ensure accurate and timely filings.

1. Important Due Dates & Timelines

Type of return / complianceDue date (for FY 24-25 / AY 2025-26)Notes / exceptions
Filing ITR by domestic company (normal case)31 October 2025Standard deadline for domestic companies without international transactions.
Filing ITR (with international / specified domestic transactions) / Transfer Pricing report (Form 3CEB)30 November 2025Companies with such transactions must furnish TP report, hence extended due date.
Audit report / tax audit report31 October 2025Extended from 30 September by CBDT.
Revised / Belated Return for companies31 December 2025If a return is filed late, it must still be by this date (with penalties).
Payment of self-assessment / final tax (for non-audit cases)31 July 2025Deadline to pay tax, even if filing dates were extended for non-audit taxpayers.

Additional points:

  • For individuals and non-audit cases, the ITR filing deadline was extended to 15 September 2025, and further to 16 September 2025.
  • These extensions do not apply to companies — company deadlines remain 31 October / 30 November.
  • Audit report deadlines have also been aligned to 31 October 2025.

2. Corporate Tax Rates & Regime Options for FY 2024-25

(a) Domestic Companies

  • Section 115BAA → 22% base rate
  • Section 115BAB → 15% base rate (new manufacturing companies)
  • Section 115BA → 25% base rate
  • Other domestic companies → 30% base rate

Surcharge & Cess

  • 115BAA / 115BAB: flat 10% surcharge + 4% cess
  • Other companies: 7% surcharge if income between ₹1 crore–₹10 crore, 12% if income exceeds ₹10 crore, plus 4% cess

Effective tax rates (approx):

  • 115BAA → ~25.17%
  • 115BAB → ~17.16%
  • Regular regime → up to ~34.94%

(b) Minimum Alternate Tax (MAT)

  • MAT rate: 15% of book profits (plus surcharge & cess)
  • MAT does not apply if company opts for 115BAA or 115BAB
  • Once opted, concessional regime cannot be withdrawn

(c) Foreign Companies

  • Taxed at ~35% (plus surcharge & cess)
  • Not eligible for concessional regimes

3. Choosing the Right Regime: A Decision Framework

  1. Evaluate incentives currently claimed (deductions under 10AA, 35, 80-IA, etc.).
  2. Compute tax under both regimes to compare benefits.
  3. Check eligibility criteria (especially for new manufacturing companies under 115BAB).
  4. File required forms (10-IC / 10-ID) by due date to exercise option.
  5. Remember irrevocability — once opted, you cannot return to the old regime.
  6. Assess cash flow impact of switching regimes.

4. Compliance & Filing Checklist for Companies

  • Maintain books of account as per Companies Act & Income Tax Act
  • Complete statutory audit & tax audit within time
  • File audit reports in prescribed forms before 31 October
  • Reconcile book profits, tax provisions, and taxable income
  • Evaluate concessional regime and file required forms if opting
  • Adhere strictly to ITR deadlines (31 Oct / 30 Nov)
  • Verify returns promptly after filing
  • Ensure transfer pricing documentation and reports are in order
  • Maintain working papers for all claims and adjustments

5. Risks, Penalties & Consequences

  • Late filing penalty up to ₹5,000 under Section 234F
  • Interest on delayed tax payments under Sections 234A/B/C
  • Delayed audit report → return may be treated as defective
  • Disallowance of losses or deductions in case of late filing
  • Higher scrutiny risk for incorrect regime selection or incomplete documentation
  • For TP cases, heavy penalties for non-compliance with reporting

6. Forward-Looking Strategy

  • Start audit and tax planning early to avoid last-minute bottlenecks
  • Run parallel tax computations under both regimes before deciding
  • Track CBDT notifications and Finance Act updates
  • Keep strong documentation trail, especially for companies under concessional regimes
  • Build a compliance calendar into corporate governance practices
  • Use automation tools for reconciliations and deadline tracking
  • For international groups, coordinate with global tax teams well in advance

Conclusion

Company income tax filing for FY 2024-25 is not just about meeting deadlines; it’s about making strategic choices. Concessional regimes under Sections 115BAA and 115BAB offer significant tax savings, but the trade-offs must be carefully evaluated. Timely audits, accurate filings, and strong compliance frameworks can protect companies from penalties and enhance financial efficiency.

0

Guide to Depreciation on Fixed Assets and Deferred Tax Calculation

Posted on by Fastlegal Team

Depreciation is an accounting method of allocating the cost of a tangible asset over its useful life. In this tutorial, we’ll explore how to calculate depreciation under the Companies Act and the Income Tax Act. We’ll also discuss the procedure for calculating deferred tax related to fixed assets.

Depreciation Under Companies Act

The depreciation under the Companies Act is calculated based on the useful life of the assets, as stated in Schedule II of the Companies Act, 2013.

Here’s a simplified step-by-step process:

  1. Identify the Asset: Determine the fixed asset that you will depreciate.
  2. Determine the Cost: Ascertain the historical cost of the asset, including purchase price, import duties, transportation, and installation.
  3. Assess the Useful Life: Refer to Schedule II for the prescribed useful life of the asset class.
  4. Select the Method: Choose a depreciation method (Straight line method or Written down value method) as per your company policy.
  5. Calculate Depreciation: Apply the method to the cost of the asset over its useful life.

Example Table of Rates and Useful Life as per Companies Act:

Asset TypeUseful Life (Years)Depreciation Rate (SLM)Depreciation Rate (WDV)
Buildings303.34%5.28%
Furniture109.50%18.10%
Machinery156.33%13.91%
Computers331.67%63.16%

Note: SLM stands for Straight Line Method, and WDV stands for Written Down Value Method.

Depreciation Under Income Tax Act

The Income Tax Act allows businesses to claim depreciation on their assets to reduce their taxable income using the Written Down Value (WDV) method.

Steps for calculation under Income Tax Act:

  1. Categorize the Asset: Identify the block of asset as per Income Tax rules.
  2. Determine the WDV: Find out the Written Down Value at the beginning of the year.
  3. Apply the Rates: Use the rates provided by the Income Tax Act for different asset types.
  4. Compute Depreciation: Calculate the depreciation for the year based on the applicable rate.

Example Table of Rates as per Income Tax Act:

Asset BlockDepreciation Rate
Building10%
Furniture and Fittings10%
Machinery and Plant (General)15%
Computers and Software40%

Calculating Deferred Tax

Deferred tax is calculated on temporary differences between the book value of assets as per accounting records and their value for tax purposes.

Here’s how to calculate deferred tax:

  1. Identify Temporary Differences: Determine the temporary differences that arise due to differences in depreciation methods or rates as per accounting standards and tax laws.
  2. Calculate Timing Differences: Assess the timing difference for the period by subtracting the tax base of the asset from its carrying amount.
  3. Apply the Tax Rate: Apply the current tax rate to the timing difference to find the deferred tax.
  4. Deferred Tax Asset or Liability: If the carrying amount is greater than the tax base, it results in a deferred tax asset. Conversely, if the tax base is greater, it leads to a deferred tax liability.

Example Calculation:

ParticularsCarrying AmountTax BaseTemporary DifferenceTax RateDeferred Tax
Machinery (as per books)100,00080,00020,00030%6,000

In this example, a deferred tax liability of Rs. 6,000 will be recognized on the balance sheet because the carrying amount is more than the tax base.

Remember that rules and rates are subject to change, and different types of assets may have specific requirements. It’s important to refer to the latest schedules and rates provided under the Companies Act and Income Tax Act respectively, and to consult with a tax professional for accurate depreciation and deferred tax calculations.

1

Income Tax Return of LLP (ITR Filing for LLP)

Posted on by Fastlegal Team

In this article, we will discuss the main requirements for ITR Filing for LLP in India, A limited liability partnership (LLP) is a business entity that is neither a company nor a partnership. It is a hybrid entity that combines the advantages of both forms of business. LLPs are registered under the Limited Liability Partnership Act, of 2008.

Like companies, LLPs are legal entities that are separate from their members. This means that the members of an LLP are not personally liable for the debts and liabilities of the LLP. However, like partnerships, LLPs are taxed as pass-through entities. This means that the income of the LLP is taxed in the hands of its members.

ITR Filing for LLPs

LLPs are required to file income tax returns (ITRs) in India. The ITR filing process for LLPs is similar to the ITR filing process for individuals and companies. However, there are some specific requirements that LLPs must meet when filing their ITRs.

Who Must File an ITR?

All LLPs that have income from business or profession are required to file an ITR. LLPs that do not have any income from business or profession are not required to file an ITR.

What Form Should Be Used for ITR Filing of LLP?

LLPs must use ITR Form 5 to file their income tax returns. ITR Form 5 is a simplified form that is designed for use by small businesses and professionals.

What Information Must Be Provided for ITR Filing of LLP?

LLPs must provide the following information when filing their ITRs:

  • The LLP’s name and registration number
  • The LLP’s PAN number
  • The name and address of the LLP’s principal place of business
  • The names and addresses of the LLP’s partners
  • The LLP’s income from business or profession
  • The LLP’s expenses
  • The LLP’s net profit or loss

When Must the ITR Be Filed?

The due date for filing an ITR for LLPs is the 31st of July of the assessment year. However, LLPs that are required to get their accounts audited are required to file their ITRs by the 30th of September of the assessment year.

How Can an ITR Be Filed?

LLPs can file their ITRs online or by mail. To file an ITR online, LLPs must create an account on the Income Tax Department’s website. To file an ITR by mail, LLPs must download and print the ITR form and mail it to the Income Tax Department.

Penalty for Late Filing

LLPs that file their ITRs late are liable to pay a penalty. The amount of the penalty depends on the length of the delay.

Conclusion

The ITR filing process for LLPs is relatively simple. However, it is important to file the ITR on time to avoid penalties. If you have any questions about ITR filing for LLPs, you should consult with a tax advisor.

Here are some additional tips for filing an ITR for an LLP:

  • Make sure you have all of the required information before you start filing.
  • Double-check your work before you submit your return.
  • Keep a copy of your return for your records.

Basic Information Required to start the ITR filing for LLP, Fill the below form

  • Name of the LLP
  • PAN of the LLP
  • Date of incorporation of the LLP
  • The financial year for which you are filing the ITR
  • The total turnover of the LLP for the financial year
  • Whether the LLP is required to get its accounts audited
  • If yes, the name of the auditor and the date of the audit report
  • Name and contact details of the authorized partner who will sign the ITR

Here are the benefits of filing your LLP’s ITR with us:

  • We are a team of experienced tax professionals who will ensure that your ITR is filed correctly and on time.
  • We will provide you with a copy of the filed ITR for your records.
  • We will keep you updated on the latest tax laws and regulations so that you can make informed decisions about your business.
0

How to Respond to Income Tax Demand on Income Tax Portal

Posted on by Fastlegal Team

The Income Tax Department might notify you of an outstanding tax liability through a demand notice on the e-filing portal. This can arise for various reasons, such as a mismatch between your declared income and the department’s records, miscalculations in your Income Tax Return (ITR), or late filing of the ITR. In such cases we are required to respond to Income Tax Demand on Income Tax Portal within time period , here is How we can respond :

Responding to the Demand Notice

Here’s a breakdown of the steps to take upon receiving a demand notice:

  1. Access and Analyze the Demand: Log in to the e-filing portal using your PAN and credentials. Navigate to the “Pending Actions” section on your dashboard and select “Response to Outstanding Demand“. This will display a list of any outstanding demands against your PAN.

Carefully examine the details of the demand notice to comprehend the nature of the tax liability and the specific amount demanded. The notice typically includes information like:

Income Tax Demand
* Assessment year: The financial year for which the tax is due.
* Tax type: This could be income tax, interest on unpaid tax, or penalty for late filing.
* Calculation basis: How the department arrived at the demanded amount.
  1. Taking Action: Once you understand the demand, you can proceed with a response:
    • Agreeing with the Demand: If you acknowledge the tax liability as accurate, you can make an online payment immediately. Locate the specific demand and click “Pay Now” to settle the dues using the available payment options.
    • Disputing the Demand: If you believe the demand is incorrect, you have the right to contest it. Here’s what to do:
      • Locate the specific demand and click “Submit Response“.
      • Choose the option “Disagree with demand“.
      • Clearly explain your disagreement, providing a well-structured explanation with relevant calculations and supporting documentation (like bank statements or investment proofs) if applicable.
      • Explicitly state the amount you believe is not payable.

Additional Considerations:

  • Maintain Records: It’s crucial to keep copies of the demand notice, your response, and any supporting documents submitted for your reference.
  • Seeking Clarification: If you require further clarification on the demand or have difficulty navigating the e-filing portal, consider contacting the Income Tax Department’s helpline or regional office for assistance. Their contact details are available on the Income Tax Department website.
  • Professional Help: For intricate tax matters, especially those involving substantial amounts or complex calculations, consulting a qualified tax professional is highly recommended. They can guide you through the process, ensure your response is accurate, and represent you if necessary.

Timely Response is Key

It’s important to respond to an Income Tax Demand promptly to avoid accruing additional interest and penalties. By following these steps and addressing the demand efficiently, you can ensure a smooth resolution and minimize any potential complications.

0

Mandatory Filings for Private Limited Companies in Current Financial Year 2019-20- ROC and Income Tax

Posted on by Fastlegal Team

IMPORTANT FORMS TO BE FILED

E-form Purpose of the Form When to File
DIR-3 KYC  Any person who has been allotted “Director Identification Number(DIN/DPIN) needs to file DIR-3-KYC to update KYC details On or before 30th June of every financial Year
Form DPT-3

 

 Return of Deposits

One time return of outstanding receipt of money or loan by a company which is not considered as deposits as per rule 2 (1) (c)

 

Filling is required to be done for both secured & unsecured outstanding money/loan not considered as deposits.

 

Period of outstanding loan/money shall be from April 01, 2014 till March 31st, 2019.

 On or before 29th June, 2019
MSME 1 Details of all outstanding dues to Micro or small enterprises suppliers –          within 30 days from the deployment of form on MCA i.e. 30th May, 2019 after that half yearly

–          For the period of April to September-by 31st October

–          For the period of October to March-by 30th April.
ADT-1 For appointment of Auditor Within 15 days of the AGM
Form INC 22A Active Active Form – for Verification of Office and Compliance 15th June

https://fastlegal.in/blog/company-law/active-form-inc-22a-date-extended-15th-june/
AOC-4 Financial Statement Within 30 days of the AGM
MGT-7 Annual Return Within 60 days of the AGM
DIR-12 Addition, cessation, or change in designation of directors Within 30 days of the Event
Income Tax Return Income Tax Return for Private Limited Company On or before 30th September, 2019
TDS Return Tax Deduction To be filed quarterly within 30 days of end of quarter, except in case of Quarter ending on March, in which return to be filed within 90days from the end of quarter?

0

Income Tax Return filing Date Extended to 15th February, 2021 for Audit Cases

Posted on by Fastlegal Team

The government has extended the deadline for filing income tax returns for assessee whose accounts are required to get audited to 15th of February, 2021 for assessment year 20-21.

Income Tax Return filing Date

While filing the tax audit report have been limited to 15th of January only.

The income tax India Twitter handle announce the extension of the deadline for filing income tax returns, the income tax returns for the individual taxpayers whose accounts are not required to be audited has been extended to 10th of January 2021