The time for filing of original as well as revi...

The time for filing of original as well as revised income-tax returns for 2018-19 extended to 31st July, and due date for income tax return for 2019-20 extended to 30th November, 2020: Central Board of Direct Taxes

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Critic
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Changes In Income Tax :

1) The due date for filing of original as well as revised "income-tax returns for the FY 2018-19 (AY 2019-20) has been extended to 31st July, 2020.

2) The date for payment of self-assessment tax in the case of a taxpayer whose self-assessment tax liability is up to ₹1 lakh has also been extended to 30th November, 2020. However, it is clarified that there will be no extension of date for the payment of self-assessment tax for the taxpayers having self-assessment tax liability exceeding Rs. 1 lakh. In this case, the whole of the self-assessment tax shall be payable by the due dates specified in the Income-tax Act, 1961 (IT Act) and delayed payment would attract interest under section 234A of the IT Act.

3) The date for making various investment/ payment for claiming deduction under Chapter-VIA-B of the IT Act which includes section 80C (LIC, PPF, NSC etc.), 80D (Mediclaim), 80G (Donations) etc has also been further extended to 31st July, 2020. Hence the investment/ payment can be made upto 31st July, 2020 for claiming the deduction under these sections for FY 2019-20.

4) The date for making investment/ construction/ purchase for claiming roll over benefit/ deduction in respect of capital gains under sections 54 to 54GB of the IT Act has also been further extended to 30th September, 2020. Therefore, the investment/ construction/ purchase made up to 30th September, 2020 shall be eligible for claiming deduction from capital gains.

5) The furnishing of the TDS/ TCS statements and issuance of TDS/ TCS certificates being the prerequisite for enabling the taxpayers to prepare their return of income for FY 2019-20, the date for furnishing of TDS/ TCS statements and issuance of TDS/ TCS certificates pertaining to the FY 2019-20 has been extended to 31st July, 2020 and 15th August, 2020 respectively.

6) The date for passing of order or issuance of notice by the authorities and various compliances under various Direct Taxes & Benami Law which are required to be passed/ issued/ made by 31st December, 2020 has been extended to 31st March, 2021.

7) The date for linking of Aadhaar with PAN has been extended to 31st March, 2021

8) The reduced rate of interest of 9% for delayed payments of taxes, levies etc specified in the Ordinance shall not be applicable for the payments made after 30th June, 2020

5 Comments  |  
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Deal Subedar
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What’s the last date to file ITR for FY 2019-20?

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Deal Subedar
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News link please

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Deal Subedar
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cocay wrote:

What’s the last date to file ITR for FY 2019-20?

30-November-2020

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Deal Subedar
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cocay wrote:

What’s the last date to file ITR for FY 2019-20?

30th Nov

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Tech Guru
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What about forms submission like 15g/h to avoid tds ?
As it was earlier extended till 30th june. Any new updates ?

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