To link page-support, extend return filing deadline, find new deadlines

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New delhi date. Wednesday, June 24, 2020

The government has decided to extend the various deadlines related to direct taxes once again. The government has taken this decision in view of the situation caused by the corona virus.

According to a public notification from the government, the government has once again extended the deadline for linking PAN cards to Aadhaar, the investment deadline for the financial year 2019-20 and the deadline for companies to release Form 16. According to the notification, the tax payer can now file a delayed or revised return for the financial year 2018-19 till July 31, 2020.

The deadline to invest for tax claim for the financial year 2019-20 has also been extended to 31 July 2020 in a public notification by CBDT. Earlier, the government had fixed June 30 as the last date for investment to get income tax exemption. The government has already extended the deadline for filing income tax returns for the financial year 2019-20 to November 30, 2020.

To provide relief to small and middle class tax payers, the government has extended the deadline for self-assessment tax submission to Rs 1 lakh to November 30, 2020. However, it has been clarified that the time limit for filing self-assessment tax for tax payers with tax liability of more than Rs one lakh has not been extended. More than one lakh self-assessment tax has to be deposited till the due date and interest has to be paid on late payment.

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