I-T dept extends deadline for tax-saving investments for FY20 till July 31

In order to provide relief to tax-payers, the Income Tax (I-T) Department on Thursday announced that the deadlines for making tax-saving payments/investments for 2019-20 have been extended till July 31, in wake of the COVID-19 pandemic.

“Understanding and keeping in mind the times that we are in, we have further extended deadlines. Now, tax-saving investments/payments for FY 2019-20 can be made up to July 31, 2020. We do hope this helps you plan things better,” the I-T Department tweeted.

Last week, the Centre extended the deadline for filing revised income-tax returns (ITR) for 2018-19 fiscal till July 31, 2020.

The date for linking Aadhaar with PAN has also been extended to March 31, 2021.

“The time for filing of original as well as revised income-tax returns for the FY 2018-19 (AY 2019-20) has been extended to July 31, 2020. The due date for the income tax return for the FY 2019-20 (AY 2020-21) has been extended to November 30, 2020. Hence, the returns of income, which are required to be filed by July 31, 2020 and October 31, 2020 can be filed up to November 30, 2020.

Consequently, the date for furnishing tax audit report has also been extended to October 31, 2020,” a Central Board of Direct Taxes (CBDT) release had said.