The Department of Revenue Tax announced an extension of the filing date for the 2019-20 FY to November 30 for the income tax return (ITR).
On Saturday, the Department tweeted that the move “understands and pays attention to the times” and hoped that it will help taxpayers to better schedule things.
Just a few days after the IT department extended the tax saving investment / payments deadline for the financial year 2019-20 until 31 July on Thursday. Consequently, for the financial year 2019-20 up to July 31 taxpayers will now be able to invest to claim deductions under the Revenue Tax Law. Information can, among other items, be reported under sections like the Equity-linked Savings Scheme (ELSS), 80C Living Insurance Scheme, Public Provident Fund (PPF), National Savings Certificate (NSC).
The I-T department has also extended the TDS / TCS declaration deadline for FY 19-20 and extended the TDS / TCS certificate issuance deadline for FY 19-20 to the 15th of August.
“We have extended further deadlines in understanding the current times in which we are. The Department of Revenue Taxation now has extended the submission of the 19-20 TDS / TCS statements to 31 July 2020. “TDS / TCS certificates extended to 15 August 2020 for FY 19-20,” it said.
The Center announced last week that both the original and revamped revenue tax returns have been issued to FY 2018-19 (AY 2019-20) for 31 July 2020.
The Central Board of Direct Tax stated in a statement that the due date for the 2019-20 (AY 2020-21) income tax return has been extended to the 30th of November 2020. “The revenue returns to be filed by 31 July 2020 and 31 October 2020 can therefore be filed by 30 November 2020. The report was thus also extended to October 31 , 2020, the deadline for furnishing the tax audit study.