Income Tax Notification: Relief To Struggling Taxpayers

The Income Tax Department, a Government agency that undertakes the direct tax collection on behalf of the Government of India operating under the Department of Revenue of the Ministry of Finance, and controlled by the apex body, the Central Board of Direct Taxes (CBDT) issued a Notification on June 24, 2020, intending to provide a ‘breathing space’ to the Indian taxpayers amidst the ongoing coronavirus pandemic.

This was passed to assist the taxpayers in being able to file their Income Tax Returns (ITR) with ease. This Notification will come into effect from June 30, 2020.

The following is the gist of what the latest Income Tax Notification is all about:-


Sl.  No.




Changes in the Due dates and Rates, as the case may be


Original Due date


Initial Extension

Date, as stated by the latest Notification



Original and Revised Return for the Financial Year (FY) 2018-2019

(Assessment Year (AY) 2019-2020)

31 March 2020 30 June 2020 31 July 2020


Return of Income for the FY 2019-2020 (AY 2020-2021) 31 July 2020

30 November 2020

3. Tax Audit Report for the FY 2019-2020 (AY 2020-2021) 30 September 2020

31 October 2020



Payment of Self-Assessment Tax, where the tax due is less than or equal to Rs. 1 lakh 31 July 2020 30 November 2020
5. Payment of Self-Assessment Tax, where the tax due is more than Rs. 1 lakh 31 July 2020




Investment under Chapter VI-A (i.e. in Life Insurance Corporation (LIC), Public Provident Fund (PPF), National Saving Certificate (NSC), Mediclaim, Donations), for claiming in the FY 2019-2020 (AY 2020-2021) 31 March 2020 30 June 2020 31 July 2020
7. Reinvestment for Capital Gains under Sections 54 to 54GB (for the period expiring between 20 March 2020 to 29 September 2020) 30 June 2020

30 September 2020


Operation of Special Economic Zone (SEZ) for Section10AA

30 September 2020

9. Tax Deducted at Source (TDS)/Tax Collected at Source (TCS) for the FY 2019-2020 (AY 2020-2021)

On Salary (Forms 24Q, 24G):

15 July 2020

Others (Forms 26Q, 27Q, 27EQ):

30 July 2020

Form 16:

15 August 2020



Passing Order/Notice under the various Direct Tax and Benami Laws 31 December 2020 31 March 2021


Linking of Aadhaar card and Permanent Account Number (PAN) card 31 March 2021


Reduced rate of interest for delay in payment of tax (9%)

Applicable only till 30 June 2020

13. For making payment, without additional amount, under the ‘Vivad se Vishwas’ Scheme

31 December 2020

14. New procedure of approval for Charitable Trusts and Exempt Institutions under Sections 12AA and 80G 01 June 2020

01 October 2020


Change in the rate of TDS and TCS for non-salaried payment to Non-Residents

Reduced by 25%, w.e.f. 14 May 2020

Income Tax India posted the latest Notification in their official Twitter account:-

The Indian Income Tax Department is widely recognised for its promptness of collection of taxes and revising the original guidelines to suit the circumstances. As the latest Notification is expected to come into effect by end of June, one can hope that the latest guidelines shall prove to be a helping hand to the taxpayers, and not another obstacle in survival.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button