The due dates for issuance of any notice, intimation, notification, approval or sanction order, has also been extended by a period of three months.
By Shailesh Kumar
The month of March holds great significance for individual as well as corporate taxpayers. This year, March 31 marked the due date of linking PAN and Aadhar, filing of revised/ belated return pertaining to FY 2018-19. It was also the last date for those taxpayers who desired to avail the Vivad se Vishwas Scheme to settle their tax disputes.
In view of the nationwide lockdown due to coronavirus pandemic, the government on March 24 announced a series of statutory and regulatory compliance relief measures, deferring deadline and reducing interest rates on delayed payments of tax. Subsequently, on March 31, the government issued an ordinance amending relevant tax laws and giving a statutory force to relaxations announced earlier.
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Relaxations for individuals
Every year, March 31 is the last date for making investments in tax-saving instruments, be it insurance premiums, ELSS mutual funds, PPF, NPS, medical insurance, etc. Due date for all such investments has been extended to June 30, 2020. Also, deduction for donations made under Section 80G can be claimed for FY 2019-20 both by individual as well as corporate taxpayers, if such donation is made by June 30, 2020. It may be noted that investments made during this period should be counted for only one of the two financial years(FY 19-20 or FY 20-21). Additionally, due date of linking PAN with Aadhar has been extended to June 30, 2020.
Source: Financial Express
