TMI BlogCBDT Revising Returns Forms due to COVID 19X X X X Extracts X X X X X X X X Extracts X X X X ..... CBDT Revising Returns Forms due to COVID 19 - By: - CSLalit Rajput - Income Tax - Dated:- 22-4-2020 - - CBDT Revising Returns Forms due to COVID 19 CBDT revising return forms to enable taxpayers avail benefits of timeline extension due to Covid-19 shall be notified by the end of this month Overview Ministry of Finance vide Press Release No. 161603 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 5 issued and publish dated 19 th April, 2020, has published notification regarding CBDT revising return forms to enable taxpayers avail benefits of timeline extension due to Covid-19 Why this required ? To enable income taxpayers to avail full benefits of various timeline extensions upto 30 th June, 2020, granted by the Government of India due to Covid-19 pandemic situati ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ons. Transactions, those are carried out during the period from 1st April 2020 to 30th June 2020 in the return forms for FY 2019-20 And shall be notified by the end of this month (April 2020) Key Highlights: Return filing utility after incorporating necessary changes shall be made available by 31st May, 2020 to avail benefits for FY 2019-20. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the time for making investment/ payments for claiming deduction under Chapter-VIA - B of IT Act which includes Section 80C (LIC, PPF, NSC etc.), 80D (Mediclaim), 80G (Donations), etc. for FY 2019-20 has also been extended to 30thJune 2020. the dates for making investment/construction/purchase for claiming roll over benefit in respect of capital gains under sections 54 to sectio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n 54GB has also been extended to 30th June 2020. E-filing utility for filing of return for Assessment Year 2020-21 wasmade available as on 1st April, 2020 the Income-tax Return (ITR) Forms ITR-1 (Sahaj) and ITR-4 (Sugam) for the FY 2019-20 (Assessment Year 2020-21) were already notified vide notification dated 3rd January, 2020 Kindly note that: To ensu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... re that the taxpayer is enabled to avail all benefits of the timeline extension due to Covid -19 pandemic, the Return Forms revision is being carried out. Source: https://www.pib.gov.in/PressReleseDetail.aspx?PRID=1616035 - - Scholarly articles for knowledge sharing authors experts professionals Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... om - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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