Resolve some questions that confuse taxpayer
This is the biggest confusion in the minds of taxpayers. The following points illustrate some of the points:
1) The financial year 2019-20 is not extended till June 30, only the date is extended for some provisions. Hence F.Y. That is only until 31st March-2020.
2) Pending returns or correction returns can be filed by June 30 for the financial year 2018-19.
3) In the financial year 2019-20, the income is only taxable till March 31 and not till June 30, ie income is calculated only for the taxability of the financial year till March 31.
This is the biggest confusion in the minds of taxpayers. The following points illustrate some of the points:
1) The financial year 2019-20 is not extended till June 30, only the date is extended for some provisions. Hence F.Y. That is only until 31st March-2020.
2) Pending returns or correction returns can be filed by June 30 for the financial year 2018-19.
3) In the financial year 2019-20, the income is only taxable till March 31 and not till June 30, ie income is calculated only for the taxability of the financial year till March 31.
