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Delay For Taxpayers For FY 2018-19

Deadline for filing returns for the fiscal year 2018-19 was stretched till June 30, 2020, before the deadline for filing returns. If you have not yet filed the original or revised income tax return for the financial year 2018-19, then there is relief news for you. In fact, the government has extended the deadline for filing income tax returns for the financial year 2018-19 by a month. Earlier there was a deadline till 30 June but now the new deadline is 31 July.

Who Will Get Assistance?

This is a relief for taxpayers who did not file returns till 31 August 2019. Actually, such taxpayers had to file returns by 31 March 2020 with a fine of up to Rs 10,000. But the government had extended the deadline of 31 March 2020 to 30 June 2020 in view of the Corona crisis. Now it has been extended once again till 31 July 2020.

Deadline Has Already Been Raised For 2019-20

Let us tell you here that the deadline for filing income tax returns for the financial year 2019-20 has already been extended till 30 November 2020. In this way, the returns of revenue tax which were to be deposited by 31 July 2020 or 31 October 2020 can now be filed by 30 November 2020.TDS — Relief on TCS, TDS — TCS details and the deadline for distributing certificates in this regard have also been reduced to 31 July 2020 and 15 August 2020 each. The details of TDS, TCS reduction and certificate will be the necessary documents in preparing the income tax return for 2019-20.

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