Search This Website

Friday, 31 July 2020

Changes in 8 things related to savings: Deadline is July 31, 2020

Tomorrow is the last date for 8 things connected with savings, do this work today to avoid loss.

A nationwide lockdown has been going on since March due to the Corona virus, which has led the government to facilitate the general public in tax and post office schemes. Which will give people some relief. tomorrow, The deadline for many things related to tax and investment is changing on July 31. So find out what is the deadline for 31st July 2020.



Changes in 8 things related to savings
The deadline is July 31, 2020

This change will come with savings

The higher the share in EPF, the lower the salary will be


To provide relief to companies and employees, the government has announced to pay 2% interest from them in EPF for 3 months. This will allow employees to deposit 10 per cent basic salary in the EPF account instead of 12 per cent. After July 31, the EPF will be cut by 12 per cent as before. This will reduce the salary of the employees.

Self Assessment Tax

If the self-assessment for the financial year 2018-19 is more than Rs 1 lakh, the date for making up the loss is July 31. You may have to pay a fine if you do not do this. The order was issued on June 24 by the CBDT and the date was fixed. Tomorrow is the deadline as there has been no change yet.

Time for small savings plans will increase


The government has relaxed the rules of many small savings schemes. The plans will expire on July 31. Some rules were relaxed for investors in small plans. Post Office RD is due by 31st July.


Last date of tax saving plan for the financial year


If you have not completed the investment to save tax for the financial year 2018-19, you have until July 31, 2020 to do so. The investment limit was increased from 31 March 2020 to 31 July 2020 to save tax. Now if you miss this deadline you will not be able to reduce your tax liability.

The deadline for filing IT returns has been extended to September 30


The Central Board of Trustees had earlier extended the tax filing date for the financial year 2018-19 to July 31. Now again the deadline has been extended and a new date of 30 September has been announced. This is the second time the deadline has been extended in Corona's time. The Income-tax department has said that the CBDT has extended the tax filing date for the year 2018-19 from July 31 to September 30 to ease the hurdles and taxpayers in view of the Kovid epidemic.

Sukanya Samrudhi Yojana and Provident Fund Rules


The lockdown time limit was kept till July 31 to open an account if the scheme is for girls aged 10 years in addition to March 25 and June 30. Public Provident Fund and Senior Citizen Savings Scheme account holders can mail their accounts for extension and for the date of extension when the lockdown expires.

Last date to pay TDS


As per the rule promulgated on 24 June 2020, the government had said that the last date for TDS and TCS statement would be 31 July 2020. According to this, the tax payers will have to fill in their statement, the date for issuing the certificate will be 31st July and 15th August.

Last date for filing ITR


This is the third time that the CBDT has extended the date of income tax return. The ITR for the financial year 2018-19 was to be filed by March 31. This was earlier extended till June 30 then July 31 and now for the third time it has been extended till September 30.

To Get Fast Latest Updates Join our : Telegram Group || Telegram Channel

Stay connected with www.enewsera.com for latest updates

Important: Please always Check and Confirm the above details with the official website and Advertisement / Notification.

To Get Fast Latest Updates Join our : Telegram Group || Telegram Channel

Stay connected with www.enewsera.com for latest updates

Important: Please always Check and Confirm the above details with the official website and Advertisement / Notification.

0 comments:

Post a comment

Popular Posts

Monthly Updates

Any Problem Or Suggestion Please Submit Here

Name

Email *

Message *