Covid-19 crisis: Invest up to July, claim benefits in FY21 I-T returns | Business – Times of India Videos

Covid-19 crisis: Invest up to July, claim benefits in FY21 I-T returns | Business – Times of India Videos

Jun 25, 2020, 08:41AM ISTSupply: .in

The federal government prolonged the deadline for a number of compliances underneath the direct tax and benami property legal guidelines, together with permitting assessees to put money into public provident fund, NSC and different tax-saving devices as much as July 31 and declare credit score within the earnings tax returns for the final monetary yr. As well as, the deadline for submitting returns, unique in addition to revised, for monetary yr 2018-19 has been prolonged additional to July 31. The return submitting date for the final monetary yr, which was July 31 for salaried has already been prolonged to November 30. “The returns of earnings that are required to be filed by 31 July, 2020 and 31 October, 2020 could be filed by 30 November, 2020. Consequently, the date for furnishing tax audit report has additionally been prolonged to 31 October, 2020,” the finance ministry mentioned concerning returns for the monetary yr 2019-20. TDS and TCS certificates for FY 2019-20 may also be issued as much as 31 July and 15 August, respectively. The relaxations have been necessitated by Covid 19, which had resulted in a two-month lockdown with workplaces but to return to full power, hampering the issuance of Kind 16 and different papers wanted to file tax returns.

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