Sunday, May 31, 2020

Deductions under Income Tax pertaining to period 01.04.2020 to 30.06.2020

The Central board for direct taxes has released updated ITR forms for Ay 2020-21.
As we all know financial year of 2019-2020 was extended from 31.03.2020 to 30.06.2020 due to COVID-19 pandemic, the CBDT has made respective changes in the ITR forms so that deduction/ investment/deposit/ payment for above 3 months  can be claimed.
For this purpose, Schedule DI has been added to ITR forms where various sections of Chapter VIA are mentioned.
Any contribution/deduction to be claimed for above 3 months have to be separately disclosed under this schedule against respective section. (screen-shot attached below for reference)


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