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Coronavirus impact | Govt extends I-T deadlines related to Sections 80C, 80D.


Date: 02-04-2020
Subject: Coronavirus impact | Govt extends I-T deadlines related to Sections 80C, 80D
The government has extended the date to June 30 from March 31 to make investments/payments to claim deductions under Sections 80C, 80D.

The Department of Revenue said the extensions would apply to Sections 80C (LIC, PPF, NSC etc.), 80D (Mediclaim), 80G (Donations) of the Income Tax (IT) Act, for the fiscal year 2019-20.

It also said that investment/ construction/ purchase to claim benefits/deductions with respect to capital gains can be made till June 30.

The government, on March 24, extended the last date of filing I-T returns for FY 2018-19 (AY 2019-20) to June 30 from March 31.

The deadline to link the PAN and Aadhaar has also been extended to June 30, 2020.

The Department of Revenue also said special economic zones (SEZ) units can begin operations by June 30 to claim deductions under section 10AA of the IT Act. This applicable for SEZs that received approval before March 31, 2020.

Donations made to the PM Citizen Assistance and Relief in Emergency Situations (CARES) Fund is eligible for deduction under Section 80G, the department added

Source:- moneycontrol.com

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