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New ITR Forms to claim benefits of PPF, LIC, NSC, other timeline extensions soon! Check details

New ITR Forms to claim benefits of PPF, LIC, NSC, other timeline extensions soon! Check details

Income Tax Return (ITR) Forms for FY 2019-20: The Ministry of Finance today said in a statement that the Central Board of Direct Taxes (CBDT) is revising the Income Tax Return (ITR) forms for FY 2019-20 to enable taxpayers avail benefits of timeline extension due to COVID-19 pandemic. The revised forms shall be notified by the end of this month. The new forms allow assessees to avail the benefits of various timeline extension granted by the government following the COVID-19 outbreak. As per the statement, the new income tax returns forms for the financial year 2019-20 will be notified by the month-end and return filing utility would be available by May 31.

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