Revised and Belated Income Tax Return for FY 2018-19 can be filed filed till 30.06.2020 instead 31.03.2020 earlier.

• Good news and much relief for individuals, the government has decided to extend the deadline for belated income tax return (ITR) and revised tax return for FY 2018-19 from March 31, 2020 to June 30, 2020. The decision has come due to curfews and lock downs because of the outbreak of corona virus pandemic.

  The news was announced by Finance Minister Nirmala Sitharaman in her press conference held on March 24, 2020. Other tax-related deadlines were also extended. These include extension of PAN-Aadhaar linking deadline to June 30, 2020 from March 31, 2020, Vivad se Vishwaas scheme without paying any interest and penalty to June 30, 2020 from March 31, 2020 and completing tax-saving for FY 2019-20.

• Why the deadline extensions were needed
  Deadline for belated ITR:

TDS on professional charges

Now two rates of TDS under section 194J

• 10% for Professional services
• 2% for other than professional services like technical, Royalty and non compete fees.

TDS ON RENT

Before budget announcement tds on rent deducted when limit is 180000 but after budget limit is 240000. TDS is deducted only when limit crossed 240000.

Section 194I was inserted vide the