The Income Tax (I-T) department has extended the tax saving investments/payments for FY2019-20 till July 31, 2020. “Understanding and keeping in mind the times that we are in, we have further extended deadlines,” the department said. The earlier deadline for the same was June 30, 2020.
In the wake of the coronavirus outbreak in the country, the department also extended the time limit for making various investments and claiming deductions. The date for filing TDS return for February and March has been extended to July 31, 2020. Further deduction for the contribution to PF, PPF, NSC, donations made up to July 31, 2020 can be claimed in the return for 2020-21.
Investments in a new house for claiming deduction under section 54 and 54G can be made up to September 30, 2020. The last date for Vivad se Vishwas has been extended to December 31, 2020 which in due course will follow the legislative amendment.