1) FY 2019-20 is not at all extended till 30th June, only the date is extended for some compliance’s.
2) Belated returns or Revised returns for the FY 2018-19 can be filed till 30th June.
3) In the FY 2019-20, income is taxable till 31st March only and not upto 30th June, i.e. for taxability of income financial year is considered till 31st March only.
4) Deductions under 80C(LIP, PPF etc.), 80D(medi claim), 54EC (capital gain bond) etc. can be claimed by investing till 30th June.
5) New LIC, mediclaim, PPF, NPS, etc. policies taken till 30th June will be eligible for the deduction for the FY 2019-20.
6) Payment of Premium of old policies of LIC, mediclaim, PPF, NPS, etc. due upto 31st March can be claimed as deduction even if paid till 30th June.
7) Housing loan interest is eligible for deduction on accrual basis, so interest accrued till 31st March will be eligible for the deduction in FY 2019-20. However Installments due upto 31st March can be claimed as deduction even if paid till 30th June.
8) 15G/ 15H/ 61A/ TDS – TCS Return, aadhar- PAN linking, Sabka Vishvas Scheme’s form, statement, return can now be filed/ done upto 30th june
9) GST returns due in March, April and May can be filed by 30th June 2020 without late filing fees
10) Delayed payment of advance tax, self assessment tax, TDS, TCS, GST, STT, CTT made between 20/3/2020 to 30/06/2020 can be done with reduced rate of interest @ 0.75% p.m.
11) no additional fee to be paid for filing any forms on MCA site for forms filed from
12) All term loans EMI to be granted Moratorium of 3 months. However interest will continue to accrue. So if one has fund/ liquidity better not to opt for deferment of EMI i.e. to pay the EMI. There may be different system/ procedures from bank to bank and Finance institution so better to contact respective bank or financial institution to get the Moratorium or incase general grant of Moratorium to pay the EMI.
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