Covid-19 impact: Govt may extend Mar 31 deadline for paying income-taxes
In a unprecedented move, the central government is likely to extend the March 31 deadline of paying income taxes by a month, in view of Covid-19 pandemic , said two officials privy to the development. If situation worsens, it may be pushed till June end, officials added. The move follows the difficulties being faced by the taxpayers in meeting the compliance requirement under the Income-tax laws. The ordinance with this regard would come soon, said one of the two officials. The Budget session of Parliament was cut short on Monday and both the houses were adjourned sine die. Sources say that if implemented, this will be the first time in the history of tax filing, that the Centre would postpone the date of income tax filing which would lead to change in the structure of financial year. Read More