The Income Tax Department extended the deadline to file the income tax return (ITR) for the financial year 2019-20 till the 30th of November. Earlier this week, the Department extended the limit to the 31st of this month.
However, the deadline was extended to four more months. The department said, they took this decision, understanding the times we are in with the hope that taxpayers will get a chance to plan things better.
With this, the taxpayer can make investments for claiming the deductions under the provisions of the Income Tax Act for this financial year. This will be applicable for the 31st of July.
The taxpayers can claim the deductions under the sections like 80C (for life insurance (LIC), public provident fund (PPF), national savings certificate (NSC) equity-linked saving scheme (ELSS)
Along with this, the deadline to file the TDS/TCS statements for the financial year 2019-20 and the deadline for the TDS/TCS certificate issuance was also extended till the 15th of August.