Relief For Taxpayers: Govt Extends Deadline For Filing ITR For FY 2018-19 Till July 31

New Delhi: Here comes a piece of good news for the taxpayers as the Central government on Wednesday extended the deadline for filing income tax returns (ITR) for the 2018-19 fiscal by a month till July 31, 2020. Also Read – Income Tax Returns Forms Issued, Last Date to File ITR November 30 | Check New Rules

Issuing a notification, the Central Board of Direct Taxes (CBDT) extended the time for filing of original as well as revised income-tax returns for the FY 2018-19 (AY 2019-20) to July 31, 2020. Also Read – Good News For Taxpayers: CBDT Extends PAN-Aadhaar Linking Deadline to March 2020

The returns of income which are required to be filed by the 31st July, 2020 and 31st October, 2020 can be filed to 30th November, 2020. Also Read – I-T Sleuths Raid 44 Locations on Mumbai Civic Body Contractors, Unearth Rs 735 Crore in Financial Irregularities

In a statement, the CBDT said that extension has been done in reference to the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 brought by the government on March 31.

“The ordinance had extended various time limits for meeting the statutory and regulatory compliance requirements across sectors due to the outbreak of coronavirus (COVID-19) to provide relief to taxpayers,” it said.

The CBDT further said that to provide relief to small and middle class taxpayers, the date for payment of self-assessment tax in the case of a taxpayer whose self-assessment tax liability is up to Rs 1 lakh has also been extended to November, 30.

However, the CBDT clarified that there will be no extension of date for the payment of self-assessment tax for the taxpayers having self-assessment tax liability exceeding Rs 1 lakh.

“In this case, the whole of the self-assessment tax shall be payable by the due dates specified in the Income Tax Act (IT Act) and delayed payment would attract interest under section 234A of the IT Act,” it said.