Deadline for filing income tax returns is now July 31
NEWDELHI: The Centre on Wednesday extended the deadline for filing income tax returns for FY 2018-19 by a month to July 31, and for linking biometric Aadhaar with PAN till March 31 next year.
The Central Board of Direct Taxes (CBDT) issued a notification in this regard.
NEW DELHI: The government on Wednesday gave more time to individuals and businesses to meet various compliance requirements, including for filing tax returns, amid signs that the coronavirus pandemic will take time to subside.
The finance ministry notified a fresh due date for filing tax returns for FY19 and gave more time for making investments to claim tax deductions for FY20 and for linking permanent account number (PAN) with Aadhaar.
According to the notification, taxpayers will get one more month to file income tax returns for FY19 till end of July.
Taxpayers can also make various investments to claim the ₹1.5 lakh deduction from taxable income till end of July. The earlier deadline was June 30 after the first extension given in March under the Taxation and other Laws (Relaxation of Certain Provisions) Ordinance. Taxpayers have time till end of November for filing returns for FY20.
The government has also eased certain compliance requirements under the Companies Act. Companies can now take key decisions such as approving financial statements and clearing mergers and acquisitions via videoconferencing till September-end, with the government extending the 30 June deadline by three months.