The central government announces that dates for ITR filing for 2018-19 are extended. This is a relief to the taxpayers. The dates are pushed by a month until July 31, 2020. Also, the central government extends the time limit for linking Aadhaar card with PAN card till March 31, 2021. Earlier the central government announces the extension for ITR filing dates for 2019-20 till November 30, 2020
The Central Board for Direct Taxes(CBDT) also announces the extension for the limit of investments and claiming deductions. Under the I-T Act for FY 2018-19, the extension is until 31st July 2020
Below are the extended deadlines
- The time for filing original and revised income-tax for the FY 2018-19 is extended until July 31st, 2020
- The due date for income tax returns of 2019-20 is extended till November 30, 2020. Also, the furnishing tax audit date is also pushed to October 31, 2020
- In a bid to provide relief to the small and middle-class payers, the date for self-assessment tax in case of self-assessment tax liability is also extended to 30th November 2020. This is applicable for up to ₹1 lakh. For the case of excess of 1 lakh, there is no change in the dates.
- The date for making multiple investments or payment for claiming deduction under Chapter-VIA-B of the I-T Act is extended till July 31st, 2020. This includes 80C, 80D, 80G sections.
- The date for making investments, purchase, construction for claiming rollover benefit/deduction in respect to capital gains for sections 54 to 54GB under the IT Act extends until September 31st, 2020.
- The date for commencement of operation for SEZ units under sections 10AA of the IT Act extends until September 30th, 2020.
- The issuance of TDS, TCS certificates for FY 19-20 are extended till 31st July 2020 and 15th Aug 2020 respectively.
- The date for the order of notice by authorities under Direct Taxes and Benami Law extends until March 31, 2020. The date for linking AADHAAR and PAN also extends until 31st March 2021
- 9%, which is the reduced rate of interest for delayed payments of taxes, levies is not applicable after June 30, 2020
- Earlier, the TDS, TCS rates for non-salary payments to residents are slashed by 25%. This is for the remaining months in the fiscal year. The date for filing income tax for FY 19-20 extends until November 30, 2021