What would be the a. Y. for 2020-21. Is it from 01.04.2019 to 30.06.2020 or 31.03.2020?
If A. Y. extended upto 30.06.2020 by notification then is it mandatory or optional? Please clarify.
In that case what are the due dates of return filing for 2020-21 without fine?
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A. Y. 2020-21
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Quick Summary
F.Y is 1.4.19 to 31.3.20
The A.Y. for 2020-2021 would be the F.Y. 2019-20 only. i;e 31/03/2020 ONLY. There is no change in the F.y. or A.y.
The A.Y. is NOT extended upto 30/06/2020.
The only changes made are, the payments made (like LIC, school fee, rent etc) during the period 01/04/2020 to 30/06/2020 are allowed as deduction in the F.Y. 19-20 itself though it relates to the F.Y.20-21.
(Normal rule: Any payment made in any F.Y. is allowed as deduction in that particular F.Y. only)
Also the due date for filing return for F.y.19-20/A.y.20-21 is extended to 30/11/2020.
The A.Y. is NOT extended upto 30/06/2020.
The only changes made are, the payments made (like LIC, school fee, rent etc) during the period 01/04/2020 to 30/06/2020 are allowed as deduction in the F.Y. 19-20 itself though it relates to the F.Y.20-21.
(Normal rule: Any payment made in any F.Y. is allowed as deduction in that particular F.Y. only)
Also the due date for filing return for F.y.19-20/A.y.20-21 is extended to 30/11/2020.
Thanks for information
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