Income Tax Due Dates Further Extended for FY 2019-20 & Benami laws

Ministry of Finance has extended various due dates for several fillings under the Income Tax Act as well as the Benami Laws.

Below is the synopsis of latest revision of due dates

Revised Due Dates for Income Tax

Particulars	Revised Due Date
Filing of original as well as revised income-tax returns for the FY 2018-19 (AY 2019-20)	31st July, 2020
Income tax return for the FY 2019-20 (AY 2020-21)	30th November, 2020
Date for furnishing tax audit report	31st October, 2020
Date for payment of self-assessment tax in the case of a taxpayer whose self-assessment tax liability is upto Rs. 1 lakh	30th November, 2020
Date for making various investment/ payment for claiming deduction under Chapter-VIA-B  which includes section 80C (LIC, PPF, NSC etc.), 80D (Mediclaim), 80G (Donations) etc. for F.Y. 2019-20	31st July, 2020
Date for making investment/ construction/ purchase for claiming roll over benefit/ deduction in respect of capital gains under sections 54 to 54GB of the IT Act	30th September, 2020
Date for commencement of operation for the SEZ units for claiming deduction under section 10AA of the IT Act	30th September, 2020 for the units which received necessary approval by 31st March, 2020.
Furnishing of the TDS/ TCS statements  for FY 2019-20	31st July, 2020
Issuance of TDS/ TCS certificates pertaining to the FY 2019-20	15th August, 2020
Date for passing of order or issuance of notice by the authorities and various compliances under various Direct Taxes & Benami Law	31st March, 2021
Linking of Aadhaar with PAN	31st March, 2021

The government had already allowed extension during the lockdown and this further extension of due date shall ease some compliance burden and allow businesses to focus on unlocking. However, there is no notification yet for any further extension on GST filling due dates.

Government has given enough time well in advance therefore, now it’s citizen’s responsibility to act in time. 

Click Here for official press release issued by the Ministry of Finance.