The Central Board of Direct Taxes (CBDT) has announced a fresh deadline for filing income tax returns to provide relief to taxpayers amid the coronavirus outbreak. In March, Finance Minister Nirmala Sitharaman had announced various compliance-related relief for taxpayers--be it filing of income tax returns or Aadhaar-Pan card linking. The deadlines have been extended further.
Here are the following income tax compliances for which deadlines have been extended further:
- The government has extended income tax returns (ITR) filing deadline for FY 2019-20 to November 30, 2020, from July 31.
- The government has extended the deadline for filing belated or revised ITR for FY 2018-19 by a month to July 31, 2020. Earlier, the deadline was June 30, 2020.
- The Central Board of Direct Taxes (CBDT) has extended the time limit by a month till July 31, 2020, for making various investments for claiming deductions under the I-T Act, which includes section 80C (LIC, PPF, NSC etc), 80D (mediclaim), 80G (donations) etc, for FY20.
- The date for making investments, construction, purchase for claiming rollover benefit, deduction in respect of capital gains under sections 54 to 54GB of the I-T Act has also been further extended to September 30, 2020.
- The CBDT has extended the date to issue Form 16(TDS certificate for salary) to employees by employers to August 15, 2020. Earlier, the government had extended the deadline for receiving Form-16 from June 15, 2020 to June 30, 2020
- Besides, the date for the passing of order or issuance of notice by the authorities and various compliances under various direct taxes and Benami Law which are required to be passed/issued/ made by December 31, 2020 has been extended to March 31, 2021.
- Lastly, the date for linking of PAN card with Aadhaar has also be extended to March 31, 2021.