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News INCOME TAX

  • Jan 02, 2021
  • 16 financial deadlines in 2021 that you must know

    It is the new year and like every year, we list out all the important financial deadlines you should not miss in the new year - 2021. However, unlike previous years where there were not more than 10 important financial deadlines to remember, in 2021, there are about 16 deadlines and dates you should know about. This is because thanks to the novel coronavirus pandemic, many important financial deadlines have been extended well into 2021.

    Here is a list of all the money-related deadlines and dates you should make a note of in your calendar for the year 2021.

    1. January 10, 2021: ITR filing deadline for salaried individuals
    If you still have not filed income tax return (ITR) for FY 2019-20, then you have time till January 10, 2021 to file it without paying any late filing fees. The government in a press release dated December 30, 2020, has extended the due date of filing ITR for those individuals who accounts are not required to be audited. Generally, these individuals file their tax return using ITR-1, ITR-2 or ITR-4 form, as applicable. Missing this deadline will cost you Rs 10,000 as a penalty.