Income Tax Return for FY 19-20

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Deal Lieutenant
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Has anybody filed their income tax return for FY 19-20.
Usually every year the returns are filed in the last week of July.
Now due to these Covid-19 i think Govt has provided some extension..
But am not clear on this.
Can anybody shed some light?

8 Comments  |  
5 Dimers
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Deal Subedar
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Yes bro, deadline for FY 2019-2020 has been extended to the November 30 2020.

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Deal Lieutenant
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Thanks for the info on the deadline extension.

One of my friend use to pay incometax under the Presumptive Taxation scheme..
So he need to pay advance taxes every quarter.. is there any notification from govt regarding deferring of these advance tax dates?
if he didnt pay this advance tax will he be liable for penalties? any idea on this?

edit: The advance tax query is for the current financial year..
FY 2020-21

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Analyst
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DealFinder wrote:

Thanks for the info on the deadline extension.

One of my friend use to pay incometax under the Presumptive Taxation scheme..
So he need to pay advance taxes every quarter.. is there any notification from govt regarding deferring of these advance tax dates?
if he didnt pay this advance tax will he be liable for penalties? any idea on this?

Advance Tax for 2019-2020 that was to be deposited by 15th March you mean or for the 1st quarter of 2020-21?

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Deal Cadet
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bro under presumptive taxation whole advance tax is to be paid by 15th march of the respective financial year otherwise the assessee is liable for interest and penalties u/s 234a,b,c etc.

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Deal Lieutenant
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Expand
GoogleCA wrote:

Advance Tax for 2019-2020 that was to be deposited by 15th March you mean or for the 1st quarter of 2020-21?

Sorry guys the advance tax query was for the current financial year..
FY 2020-21

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Deal Lieutenant
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gargsahbbb wrote:

bro under presumptive taxation whole advance tax is to be paid by 15th march of the respective financial year otherwise the assessee is liable for interest and penalties u/s 234a,b,c etc.

Sorry guys the advance tax query was for the current financial year..
FY 2020-21

Missing
Analyst
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DealFinder wrote:

Sorry guys the advance tax query was for the current financial year..
FY 2020-21

For F.Y. 20-21 he has to deposit advance tax for presumptive taxation by 15th March 2021. Why is he paying advance tax quarterly?

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