Know Which Income Tax Form is applicable to whom for AY 2020-21

• June 24, 2020
• CA Chandan Agarwal's Office

Due to Covid-19, as we are aware that the Government of India is taking various major steps to recover our economy. Simultaneously, the Government of India has provided relief measures, some of which, are as under:

– Due date for filing the return of income for all taxpayers has been extended to 30th November 2020.

– Those person to whom Tax Audit is applicable are required to submit the Tax Audit Report on or before 31st October 2020.

– The person can claim tax deductions for tax saving investments, deposits, payments, donations and investment (acquisition, purchase, construction or any other deposits) for capital gain exemption u/s 54 to 54GB, made during the extended period upto 30th June 2020.

The topic is specifically covered relating to who is required to file which Income Tax Forms for AY 2020-21.

Read more on: https://taxguru.in/income-tax/income-tax-form-applicable-ay-2020-21.html