Owing to the COVID-19 pandemic, the income-tax return filing deadline for FY 2019-20 in India has been extended from 31st July 2020 and 31st October 2020 to 30th November 2020. The Tax Audit due date has also been moved from 30th September 2020 to 31st October 2020.
The due date extension of income-tax return filing was part of the stimulus measures to combat and revive India’s economy, announced by the Finance Minister Ms. Nirmala Sitharaman at a press conference on May 13, 2020.
The TDS / TCS rate for non-salary payments, contract payments, interest, rent, dividend, commission or brokerage to residents has also been cut by 25% from 14th May 2020 until 31st March 2021.
A directive has also been issued to immediately clear all pending refunds to charitable trusts and non-corporate businesses and professions.