New Delhi. The Income Tax Department (Income Tax Department) has extended the date for filing Income Tax Return (ITR) for the financial year 2019-20, giving huge relief to the taxpayers. Now taxpayers will be able to file ITR by 30 November 2020. This relief has been given in view of the problems faced by the people due to Corona.
Deadline for submission of TDS / TCS statements also increased. Earlier, the deadline for submission of TDS / TCS statements for 2019-20 was also increased again to 31 July 2020. Apart from this, the date of issue of TDS / TCS certificates has also been further extended to 15 August 2020. You will be able to invest till July 31 for tax exemption.
To save tax, the time limit for investing in Section 80C, 80D, 80E of the Income Tax has been increased from 30 June to 31 July. In such a situation, if you want to invest for tax exemption, then you can invest till July 30. The Income Tax Department has also issued a new ITR form. The Central Board of Direct Taxes (CBDT) has revised the return form for the financial year 2019-20.
Last date for filling Form-16 extended
Employees usually received Form 16 from their company in the month of May, but this time due to Corona, the government has extended the date of issuance of Form 16 to July 31. Form 16 is a kind of TDS certificate, which is required when filing ITR. You will be able to get PAN from Aadhaar by 31 March 2021. The last date for the PAN to be linked to Aadhaar was 31 March, but in view of the lockdown, it was extended till 30 June 2020. It has once again been extended to 31 March 2021.