Changes in income tax rules, PAN-Aadhaar link will be necessary
Changes in income tax rules, PAN-Aadhaar link will be necessary
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On Wednesday, the government has extended the deadline for filing the original or revised Income Tax Return (ITR) for the financial year 2018-19 by one month and the deadline for linking the Aadhaar number with PAN for the next 31 July and also till 31 March 2021. The Central Board of Direct Taxes (CBDT) has, through a notification, increased the time for investment in various schemes by one month to 31 July 2020 to get tax exemption during the year 2019-20. In this way, taxpayers will be taxed under Section 80C (Life Insurance, Pension Fund, Savings Letter etc.), 80D (Health Insurance) and 80G (Donation) of the Income Tax Act by investing tax till 31 July 2020 in the financial year 2019-20. Can claim

PAN-Aadhaar linking date extended

At present, the date of linking PAN-Aadhaar was ending on 30th June. It has now been increased to 31 March 2021.


Time available for self assessment tax payment

For the small and medium taxpayer, the Income Tax Department has also extended the last date for payment of self-assessment tax for taxpayers up to Rs 1 lakh. Now the new date is 30 November 2020.

Income tax return date extended for 2019-20

The date of filing tax return (ITR) for the financial year 2019-20 has been extended till November 2020. Returns which were to be filed by 31 July and 31 October 2020 can now be filed by 30 November.

Last date for filing income tax return extended

The date of filing the actual or revised income tax return (ITR) for the financial year 2018-19, which was earlier 30 June, has been extended till 31 July 2020.

Deadline for tax saving investment extended

The last date for tax saving and investment under Section 80C, 80D etc. was ending on 30th June. It has been increased to 31 July.

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