Atmanirbhar economic package: ITR deadline extended to Nov 30, 2020 for FY 2019-20
Автор: The Economic Times
Загружено: 2020-05-13
Просмотров: 483
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In a major relief for taxpayers amid the coronavirus pandemic, the Centre on Wednesday announced the extension of the due date for filing income tax returns for the financial year 2019-20. Nirmala Sitharaman said that the due date of all income tax returns for FY 2019-20 will be extended from July 31, 2020, October 31, 2020 to November 30, 2020 and tax audit from September 30, 2020 to October 31, 2020. The government has also reduced the TDS rates applicable for non-salaried employees. 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%. The reduced TDS and TCS rates will remain valid till March 31, 2021.
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