New Delhi: To ease the burden on taxpayers amidst the coronavirus crisis, the date for making investments or payments for claiming IT deductions for the assessment year 2020-21 has been extended from March 31 to June 30, 2020.
This was notified by the Central Board of Direct Taxes (CBDT) in the new income-tax forms issued on Saturday. This is in line with an earlier announcement made by the Union Finance Ministry in March.
CBDT has added a new schedule (column) in the IT return form to report investments made between April 1 up to June 30, 2020 for which deductions can be claimed under Section 80C (contributions to LIC, PPF, NDC, etc.), 80D (mediclaim) and 80G (donations).
According to experts, this notification will mitigate any anxiety taxpayers may have had on how to claim deductions for investments during the extended three-month period due to the COVID-19 crisis.
Bhubaneswar: Chief Minister and BJD president Naveen Patnaik concluded his marathon campaign in western Odisha…
Kathmandu: It’s the dream of any mountaineer to reach the peak of Mount Everest at…
Chennai: There are certain modes of dismissal in cricket which hurt badly. One such is being…
Bhubaneswar: Veteran Congress leader Jairam Ramesh has termed the exchange of barbs between Prime Minister…
New York: Nearly two months after becoming the first recipient of a genetically modified pig…
Bhubaneswar: Odisha's chief electoral officer (CEO) Nikunja Bihari Dhal said election officials were all set…
New Delhi: Days after Delhi-NCR was shaken by a bomb scare in over 200 schools,…
Bhubaneswar: As the countdown for the first phase of polling in Odisha begins, several Assembly…