ITR filing due date for Financial Year 2019-20:
Covid-19 impact:
Deadline to file ITR for AY 2019-20 extended to 30 Nov 2020
For the fourth time, the Central Board of Direct Taxes (CBDT) has now extended the last date for filing income tax returns for assessment year 2019-20, which is financial year 2018-19. The last date for filing the ITR of the year concerned was September 30. The department has postponed the last date to November 30. The deadline for filing ITR for assessment year 2020-21, which is financial year 2019-20, is November 30.
Last Date to file ITR
The due date for the income tax return for the FY 2019-20 (AY 2020-21) has now been extended to November 30, 2020. The returns of income which are required to be filed by 31st July, 2020 and 31st October, 2020 can be filed up to 30th November, 2020.
Category of Taxpayer |
Due Date for Tax Filing – FY 2019-20 |
|---|---|
Individual |
30 November 2020 |
Body of Individuals (BOI) |
30 November 2020 |
Hindu Undivided Family (HUF) |
30 November 2020 |
Association of Persons (AOP) |
30 November 2020 |
Businesses (Requiring Audit) |
30 November 2020 |
Businesses (Requiring TP Report) |
30 November 2020 |
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In addition to that, the government via a notification dated June 24, 2020 (effective from June 30, 2020) had extended the date to issue Form 16A (TDS certificates for interest income) and Form 16 (TDS certificate for salary) to employees by employers to August 15, 2020. According to chartered accountants, the government had earlier extended the deadline of issuing Form-16 and Form 16A from June 15, 2020 to June 30, 2020 via an ordinance dated March 31, 2020.
Other direct tax calculations
The government has also reduced the TDS rates applicable for non-salaried payments. As per the announcement, to provide more funds to taxpayers, TDS for non-salaried specified payments made to residents and rates of TCS for specified receipts shall be reduced by 25 per cent. The reduced TDS and TCS rates will remain valid till March 31, 2021. The reduced rates will be applicable on payments such as TDS on rent exceeding Rs 50,000 per month, dividend payments from mutual funds and companies, TDS on fixed deposits etc.