ITR date extended: Deadline to file income tax return on September 30

The last date for filing income tax returns has been increased from 31 July 2020 to 30 September 2020.

New Delhi: The government has extended the last date for filing of income tax returns for the financial year 2018-19 and up to two months i.e. 30 September. The Income Tax Department said that giving more relief to the income tax payers in the wake of the corona virus epidemic, the Central Board of Direct Taxes (CBDT) has filed the last date for filing income tax returns for the financial year 2018-19 (assessment year 2019-20) from 31 July 2020. Has been increased to 30 September 2020.

Explain that the date of filling the original or revised income tax returns for the financial year 2018-19 has been extended for the third time.

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Income tax returns will now be easier

It is known that for the convenience of taxpayers filing income tax returns, the Income Tax Department has issued a new 26AS form. This will make filing of income tax returns much easier.

What is 26AS form

This is an annual tax statement. In this form, all the information about the tax given by you and the tax deducted from any institution is recorded. It is required at the time of ITR filing. With the help of PAN number, you can remove this form from the income tax department website.

What is in the new 26AS form?

The CBDT has said that earlier any PAN’s Form 26AS would have revealed that taxpayer’s TDS deduction as well as information such as his tax payment and refund. But now the revised Form 26AS will contain every detail related to the taxpayer’s financial transaction. It will contain details of all major financial transactions of taxpayers. With this, they will be able to remember every financial transaction while filing their income tax return.

Information on property and share transactions has also been included in the newly revised Form 26AS. Apart from TDS-TCS details, there will be information about some other transactions, tax payments etc. Information about the completed or pending procedure related to demand-refund will also be included in the financial year from a taxpayer. Taxpayers will have to give details of this in ITR. The new Form 26AS will come into effect from June 1.

How to download Form 26AS

To download Form 26AS, first go to the website of Income Tax Department. Please login. Go to the My Account section and click on the View Form 26AS tab. On clicking, you will reach the website of Traces. You can download the statement by entering the assessment year here. The downloaded file will be password protected. Your birthday will be your password.

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