The government has also extended the date for making various investment or payment for claiming a deduction for saving tax.
ITR Filing 2020 Last Date: The last date for Income Tax Return (ITR) filing for AY 2020-21 has been extended to November 30, 2020. It will be applicable for filing of ITR for the financial year 2019-20. The income tax department has informed about the extension in its twitter handle today. The due date for the income tax return for the FY 2019-20 (AY 2020-21) has now been extended to November 30, 2020. The returns of income which are required to be filed by 31st July, 2020 and 31st October, 2020 can be filed up to 30th November, 2020.
The government has also extended 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) to 31st July, 2020. Now the investment/ payment can be made upto 31st July, 2020 for claiming the deduction under these sections for FY 2019-20.
The government had also extended the last date for the issuance of Form 16 by employers to their employees. In fact, the extension has been given for all TDS ( tax deducted at source) certificates, including Form 16.
The CBDT had recently notified the Income Tax Return Form 1 to Form 7 for the assessment year (AY) 2020-21. However, the income tax return filing is currently available only for those who wish to file ITR 1, ITR 2 and ITR 4 for AY 2020-21. The income tax department has informed that ITR 1, ITR 2 and ITR 4 for AY 2020-21 is available for e-Filing by downloading either excel or Java utility while other ITRs will be available shortly.
Understanding & keeping in mind the times that we are in, we have further extended deadlines. Now, filing of ITR for FY 2019-20 is extended to 30th Nov, 2020. We do hope this helps you plan things better.#ITDateExtension#FacilitationDuringCovid#WeCare #IndiaFightsCorona pic.twitter.com/ZoGBpok3V7
— Income Tax India (@IncomeTaxIndia) July 4, 2020
And, for those who were not able to complete their tax-saving exercise by March 31, 2020 because of the COVID-19 led lockdown across the country, the government had already extended the date till July 31, 2020. It is important to note that there is no change in the financial year and only the extension has been made to complete tax savings for FY 2019-20.