Tax Saving Deadline Extended Till 30th June 2020

Amid lockdowns and curfews on account of the coronavirus pandemic, the government has announced the extension of tax-saving date till 30th June. With this move, taxpayers can complete their tax-saving exercise for FY2019-20 until June 30, 2010. However, the government has also very clearly said that the extension of date doesn’t mean the financial year has been extended.

Under the income tax laws, 31 July of the relevant assessment year is typically the due date to file Income Tax Return for a financial year. So, anyone who has not yet filed the ITR for FY19 can now file. This step has been taken due to the hardship people are facing owing to COVID-19 pandemic and measures taken to curb it. Given the step of finance minister, most experts welcome this relief measures.

This extension is also a big relief, especially to senior citizens and those people who are not used to online facilities for transacting and they are yet to complete their tax savings for FY 2019-20. This development came after several entities appeal the central government to extend the ITR filing date amid a lockdown and curfew in the country due to the rapid spread of coronavirus.