Looking at the current pandemic situation & to provide some relief to taxpayers the Central Government on Wednesday, 24th June 2020 issued a notification under which following relaxations have been provided.

1) Filing income-tax returns (ITR) for the FY 2018-19 has been further extended by a month till July 31, 2020.

2) Time limit for linking Aadhaar card with PAN card till March 31, 2021.

3) Further the Time limit for filing ITR for FY 2019-20 has been extended till November 30, 2020

Following are the Latest due dates & deadlines

1) The time 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) Due date for income tax return for the FY 2019-20 (AY 2020-21) has been extended to 30th November, 2020. Hence, the returns of income which are required to be filed by 31st July, 2020 and 31st October, 2020 can be filed upto 30th November, 2020. Consequently, the date for furnishing tax audit reports has also been extended to 31st October, 2020.

3) The date for payment of self-assessment tax in the case of a taxpayer whose self-assessed 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. 

4) Last date for making various investment payment for claiming deduction under Chapter-VIA “B.- Deductions in respect of certain payments” of the Income Tax 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.

5) Deduction under sections 54 & 54GB of Income Tax Act, 1961 has also been further extended to 30th September, 2020. Therefore, any investment/ construction/ purchase made up to 30th September, 2020 shall be eligible for claiming deduction from capital gains.

6) The Last date for commencement of operation for the SEZ units for claiming deduction under section 10AA of the IT Act has also been further extended to 30th September, 2020 ONLY for the units which have received necessary approvals by 31st March, 2020.

7) Since TDS / TCS  being the prerequisite for enabling the taxpayers to prepare their return of income for FY 2019-20, the due dates the date for furnishing of TDS/ TCS statements pertaining to the FY 2019-20 have been extended to 31st July, 2020 while  the date for issuance of TDS/ TCS certificates has been extended to 15th August, 2020.

8) 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. Consequently, the date for linking Aadhaar with PAN would also be extended to 31st March, 2021.

Provided also that where the specified Act is the Direct Tax Vivad se Vishwas Act, 2020, the 30th day of December, 2020 shall be the end date of the period during which the time limit specified in, or prescribed or notified thereunder falls for the completion or compliance of the action and the 31st day of December, 2020 shall be the end date to which the time limit for completion or compliance of such action shall stand extended.


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