In a bid to provide relief to income tax payers who had to file their TDS and TCS statement by 30th June 2020, the Income-Tax Department has extended the deadline to 31st July 2020 for FY2019-20.
In a bid to provide relief to income tax payers who had to file their TDS and TCS statement by 30th June 2020, the Income-Tax Department has extended the deadline to 31st July 2020 for FY2019-20. The Central Board of Direct Taxes (CBDT) tweeted about the decision today. The move will help those people who couldn’t submit their TDS and TCS payment statements due to the Coronavirus lockdown.
The CBDT tweeted about the decision and said, “Understanding the current times that we are in, we have further extended deadlines. Now, furnishing of TDS/TCS statements for FY 19-20 extended to 31st Jul, 2020 & issuance of TDS/TCS certificates for FY 19-20 extended to 15th Aug, 2020: Income Tax Department.”
Also Read: SBI vs HDFC Bank vs PNB: Which bank fixed deposit will give more? Check now
The Income Tax Department of India had earlier extended the TDS and TCS statement submission deadline to 30th June 2020 due to the lockdown imposed in India from 25th March 2020. Originally the deadline to submit these documents was 31st March 2020.
However, Mumbai-based tax and investment expert Balwant Jain said, “This facility is for those who couldn’t submit their TDS and TCS statement. If someone is able to move out and submit TDS/TCS statement, then they should go and do it as soon as possible because it’s directly related to their Income Tax Refund as the issuance of the Form 16 is possible only when the TDS and TCS statement is submitted.”
