Good News For Taxpayers

The Coronavirus havoc has kept us all engaged for a while and amidst the crisis hour Indian Government is bringing relief to all the taxpayers by extending the dates of filing ITR.

In a recent sitting of the Finance department, the Central Board of Direct Taxes (CBDT) took several landmark decisions in easing off the responsibilities of the compatriots and issued new dates for tax return filings.

Extending the deadline for the filing of original as well as revised tax returns for the Financial Year 2018-19, the new date announced is till 31 July 2020, meanwhile increasing the deadline for the FY 2019-20 till 30 November 2020.

The date for furnishing the tax audit return has also been extended to 31 October 2020.

Apart from it, huge relaxation has been granted to middle and lower class taxpayers in terms of time period. The current time period granted for paying off the Self Assessment tax to the taxpayers whose liability is upto INR 1 lac, the last date is 30 November, 2020.

Keeping in consideration the current situation, the date for linking Aadhaar card to PAN has also been extended to 31 March 2021.

Govt extends various time limits under the Direct Tax & Benami laws, providing further relief to taxpayers for making compliances under these laws. Notification dt 24th June,2020 issued. Time limits had earlier been extended by Taxation & Other Laws Ordinance on 31st March, 2020. pic.twitter.com/xc2HgjuAzY

— Income Tax India (@IncomeTaxIndia) June 24, 2020