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  • Of late, taxpayers are facing several obstacles while filing their income tax returns for the Financial Year 2020-21 
  • In view of this difficulty & the severe pandemic, the Finance Ministry relaxed the due date for filing returns from 31 July 2021 to 30th September 2021
  • However, no relaxation has been given for the payment of taxes. Any delay in payment of tax will result in additional interest
  • The Income tax law charges different types of interest for the following defaults
    • Delay in filing income tax u/s 234A
    • Shortfall in depositing advance tax u/s 234B and 
    • Deferred payment of advance tax u/s 234C
  • While the taxpayer now gets time till 30 Sept to file returns, any delay in payment of tax beyond the original due date of 31 Jul, will still attract interest u/s 234A
  • This is applicable only where the pending tax dues are more than Rs. 100,000.
  • 234A is a month-wise interest . So pay your taxes before 31st Aug to save 1 month of interest

PressRelease_Government_extends_certain_timelines_in_light_of_severe_pandemic_20_5_21
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