38.6c New Delhi, India, Saturday, June 22, 2024

[COVID-19]: Last Date to File Income Tax Returns Extended Till June 30: Ministry of Finance

By Aarya Mishra      02 April, 2020 02:04 PM      0 Comments
Last Date to File ITR Extended MOF

An Ordinance was brought by Ministry of Finance on March 31, 2020 extending the date to file Income Tax Returns till June 30, 2020.

In order to give effect to the announcements made by the Union Finance Minister on 24th March, 2020 regarding several relief measures relating to statutory and regulatory compliance matters across sectors in view of COVID-19 outbreak, the Central Government had introduced such ordinance which also provides for extension of time limits contained in the Rules or Notification which are issued under the Taxation and Benami laws.

The Central Government also stated that the date of making payment for claiming deduction under Chapter-VIA-B of IT Act which includes Section 80C (LIC, PPF, NSC etc.), 80D (Mediclaim), 80G (Donations), etc. of the Income Tax Act, 1961 for the 2019-20 along with the date for making investment/construction/purchase for claiming roll over benefit/deduction in respect of capital gains under sections 54 to 54GB of the Income Tax Act, 1961 (IT Act) has been extended to 30th June, 2020.

According to the Ordinance, the commencement date of operation for the SEZ units for claiming deduction under deduction 10AA of the IT Act has also extended to 30th June, 2020 for the units which received necessary approval by 31st March, 2020. Furthermore, no authority under various direct taxes & Benami Law shall pass an order or issue any notice before 30th June, 2020.

It has provided by the Central Government that the reduced rate of interest of 9% shall be charged for non-payment of Income-tax (e.g. advance tax, TDS, TCS) Equalization Levy, Securities Transaction Tax (STT), Commodities Transaction Tax (CTT) which are due for payment from 20th March,2020 to 29th June, 2020 if they are paid by 30th June, 2020. Further, no penalty/prosecution shall be initiated for these non-payments and also declaration and payment under Vivad se Vishwas Scheme can be made up to 30th June,2020 without additional payment.

Furnishing of the Central Excise returns which are due in March, April and May 2020 can now be made till 30th June, 2020. In continuation, the last date for filing of appeal, refund applications etc., under the Central Excise Act, 1944 and rules as well as under the Customs Act, 1962 and rules which was made from 20th March, 2020 to 29th June, 2020, are now extended to 30th June, 2020. 

The same shall go with the filing of appeal etc., relating to service tax. The central government has further extended the time for making payment to avail the benefit under Sabka Vishwas Legal Dispute Resolution Scheme 2019 till 30th June, 2020.

Along with tax relaxation government has provided flexibility in filing other compliance. Government further has inserted an enabling section under CGST Act 2017 resulting in extension of due date, filing in relief claims.



Share this article:

Leave a feedback about this

Trending Judiciary
Gravity of offence not relevant when considering bail for juvenile [Read Order]

Allahabad High Court grants bail to a juvenile in a serious criminal case, ruling that the gravity of the offence is not a relevant factor in bail decisions.

22 June, 2024 11:18 AM
Trending Executive
New Anti-Cheating Law enacted: Analysis

In-depth analysis of India’s new Anti-Cheating Law, the Public Examinations (Prevention of Unfair Means) Act, 2024, aimed at curbing exam malpractices.

22 June, 2024 11:38 AM


Trending Crime, Police And Law
Women, including housewife, approach NCW against controversial IPS officer Gyaneshwar Singh

Two women approach NCW against controversial IPS officer Gyaneshwar Singh, citing harassment for tweets based on news reports about his involvement in high-profile cases.

17 June, 2024 03:10 PM
Trending Judiciary
Courts this Week: Law Street Journal's Weekly Round-Up of SC & HCs [June 10 - June 15]

Get the latest updates from the Supreme Court of India and the High Courts ! Here’s a round up of the week's top legal stories in a quick, easy-to-read summary.

17 June, 2024 03:29 PM
Trending Business
Man sues Apple for £5 million, blaming company for divorce after wife discovers ‘deleted messages’ with sex workers

A UK man sues Apple for £5M, claiming their unclear policy on deleted messages led to his divorce after his wife found texts to sex workers on another device.

17 June, 2024 04:26 PM
Trending Crime, Police And Law
Ex-Karnataka CM Yediyurappa appears before CID for POCSO case probe, with protection of 'no arrest'

Ex-Karnataka CM Yediyurappa appears before CID for POCSO case probe, denies allegations, granted ‘no arrest’ protection. Next hearing: June 28.

17 June, 2024 04:46 PM


Join Group

Signup for Our Newsletter

Get Exclusive access to members only content by email