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Deadline for issuing TDS, TCS certificates extended for FY 2019-20 extended

NEW DELHI

The Income Tax Department on Friday extended several deadlines. The deadline for furnishing TDS, TCS statements for the financial year 2019-20 has been extended to July 21, 2020. Issuance of TDS/TCS certificates for FY19-20 has also been further extended to August 15, 2020. The Income Tax Department tweeted, "Understanding the current times that we are in, we have further extended deadlines. Now, furnishing of TDS/TCS statements for FY 19-20 extended to 31st Jul, 2020 & issuance of TDS/TCS certificates for FY 19-20 extended to 15th Aug, 2020."
Because of these extensions, employees may have to wait till 15 August 2020 for their Form 16 for the financial year 2019-20. Note that Form 16 is needed by the employees to file their income tax return since it contains details of the salary received by the employee, the tax deducted by the employer and deduction availed by the employee. It has two parts�part A and part B. Part A comprises basic details of the employee such as name and address, PAN and TAN details, period of employment, details of TDS deducted and deposited with the government. Part B contains details of salary paid, any other income of the employee, deductions availed under chapter VI-A including section 80C details and tax payable by the employee, among others. Worth mentioning here is that the tax department on Thursday extended the tax-saving investments/payments for FY2019-20 till July 31, 2020. In a tweet, the tax departments announced that due date for tax-saving investments has been extended further by 30 days. The department tweeted, "Understanding & keeping in mind the times that we are in, we have further extended deadlines. Now, Tax Saving Investments/Payments for FY 2019-20 can be made up to 31st July 2020. We do hope this helps you plan things better." Note that the earlier deadline for the same was June 30, 2020.
The department has also extended the time limit for making various investments and claiming deductions. The date for filing TDS return for February and March has been extended to July 31, 2020. Also, the deduction for contribution to PF, PPF, NSC, donations made up to July 31, 2020, can be claimed in the return for 2020-21. The last date for Vivad se Vishwas has been extended to December 31, 2020.