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Income Tax Return filing 2020 last date extended for these taxpayers! With Automatic Income Tax Revised Form 16 for F.Y. 2019-20

ITR Filing Due Date 2020:
Section 139 of the Income Tax Act provides various provisions for filing tax
returns.
Income Tax Return (ITR) Filing
2020: The Finance Bill 2020 has extended the due date for filing of return by
companies and persons who are required to get their accounts audited. The due
date for such taxpayers has been extended from September 30 to October 31 of
the Assessment Year. The date has been extended through amendments in Section
139 of the Income Tax Act.
Twin amendments
Section 139 of the Income Tax Act provides various provisions for filing tax
returns. As per Section 139 (1), it is mandatory for every person – be it a
company, or a firm, or a person other than a company, or a firm, whose total
income, or the total income of any other person in respect of which he is
assessable under the Income Tax Act, during the previous year exceeded the
maximum amount which is not chargeable to income-tax – to file return on or before
the due date.

  The
main feature of this Excel Utility:-
1)  
Prepare At time 50 Employees  Excel Based  Form 16 Part B ( Modified Format of Form 16 Part B Vide CBDT
Notification No.36/2019 Dated 12/04/2019 ]
2)  
All the Amended Income Tax
Section have in this utility as per Budget 2019
3)  
You can print individual Form
16 Part  B
4)  
Most easy to install just
like an Excel File
5)  
Easy to Fill the all column
6)  
Automatic Convert the Amount
to the In-Words
What has changed
As per Explanation 2 of this sub-section, the due date for “a working partner
of a firm whose accounts are required to be audited under this Act or under any
other law for the time being in force” was the 30th day of September of the
assessment year.
The Finance Bill 2020 has removed
the word “working”. Also, the words “30th day of September” have been
substituted by “31st day of October”. The twin amendments mean, companies and
persons, who are required to get their accounts audited, can file their returns
by October 31.
Taxpayer’s Charter
Budget 2020 proposed to introduce a Taxpayer’s Charter. “Any tax system
requires trust between taxpayers and the administration. This will be possible
only when taxpayer’s rights are clearly enumerated. Towards this end, and with
the objective of enhancing the efficiency of the delivery system of the Income
Tax Department, I propose to amend the provisions of the Income Tax Act to
mandate the Central Board of Direct Taxes (CBDT) to adopt a Taxpayers’
Charter,” FM Nirmala Sitharaman had said.
SOURCE FROM- businessleague

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