Major relaxations due to Covid-19 - Income Tax

• The last date of filing of original as well as revised income-tax returns for the FY2018-2019 (AY 2019-2020) has been extended to 30th June, 2020.

• Aadhaar-PAN linking date extended to 30th June, 2020.

• Due date for payment of Income Tax (TDS, Advance Tax, TCS) has been not extended, however the subsidised interest rate of 9% shall be levied for non-payment due from 20.03.2020 to 29.06.2020 if they are paid by 30.06.2020. Further, no penalty/ prosecution shall be initiated for these non-payments.

• However due date for TDS return filing of fourth quarter has been extended to 30th June 2020.

• For Vivad se Vishwas Scheme, the date has been extended up to 30.06.2020 without any additional payment.

• Time limit of Nil/Lower Deduction Certificate has been extended to 30th June 2020.

• The Form 15G/H submitted to bank or entities for F.Y.2019-2020 shall be held valid 30th June 2020.

• The due date for making investment and payments for claiming deductions under Chapter VI-A-B of Income Tax Act,1961 which consists of Sec 80C (Tax Bond, PPF, LIC, NSC), Sec 80D (Mediclaim), Sec 80G (Donations including PM CARES Fund) has been extended till 30th June 2020 for F.Y.2019-2020.