The Income Tax Department on Saturday – July 4, 2020, extended the last date to file ITR returns.
According to the Income Tax Department's statement, all Income Tax Returns can now be filed latest by November 30, 2020. With reference to the ongoing Corona Virus pandemic, of which India has reported nearly 6.5 lakh cases thus far, the Income Tax Department tweeted, “Understanding and 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”.
This move, by the IT department, comes days after it extended the deadline for tax saving investments/payments for the financial year 2019-20 up to July 31. This will enable the taxpayers to make investments for claiming deductions under the Income Tax Act for the financial year 2019-20 up to July 31. The date for linking Aadhaar with PAN has also been extended to March 31, 2021. Besides, the I-T department has also extended the deadline for furnishing of Tax Deducted at Source (TDS)/ Tax Collected at Source (TCS) statements for the financial year 2019-20 till July 31, 2020. “Understanding the current times that we are in; we have further extended deadlines. Now, furnishing of TDS/TCS statements for FY 19-20 extended to July 31, 2020,” said the Income Tax Department. “Issuance of TDS/TCS certificates for FY 19-20 extended to August 15, 2020,” it added. Furnishing of TDS/TCS statements and issuance of TDS/TCS certificates are prerequisites for enabling the taxpayers to prepare their return of income for the financial year. The extension comes as a reassurance for taxpayers. Earlier as well, the government had earlier extended the deadline for receiving Form-16 from June 15 to June 30. Taxpayers will now have enough time post the lockdown to compile the data required for preparing their Income Tax Returns.