<p class="bodytext">The income tax department has notified forms for filing income tax returns for the financial year 2019-20.</p>.<p class="bodytext">The Central Board of Direct Taxes (CBDT) has notified Sahaj (ITR-1), Form ITR-2, Form ITR-3, Form Sugam (ITR-4), Form ITR-5, Form ITR-6, Form ITR-7 and Form ITR-V for the assessment year 2020-21.</p>.<p><a href="https://www.deccanherald.com/national/coronavirus-in-india-live-updates-today-lockdown-50-maharashtra-karnataka-tamil-nadu-mumbai-bangalore-delhi-bengaluru-kolkata-chennai-covid-19-news-world-narendra-modi-843634.html"><strong>For latest updates on coronavirus, click here</strong></a></p>.<p class="bodytext">The department has revised the I-T return forms for the financial year 2019-20 to allow assessees to avail benefits of various timeline extension granted by the government following the COVID-19 outbreak.</p>.<p class="bodytext">The government has extended various timelines under the Income Tax Act, 1961, through the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020.</p>.<p class="bodytext">Accordingly, the time for making investment or payments for claiming deduction under Chapter-VIA-B of IT Act that include Section 80C (LIC, PPF, NSC etc.), 80D (Mediclaim) and 80G (Donations) for the financial year 2019-20 had been extended to June 30, 2020.</p>.<p class="bodytext">ClearTax founder and CEO Archit Gupta said, "The new forms require a separate table to disclose tax saving investment made in the first quarter of 2020 for availing them in FY 2019-20. Taxpayers must assess their tax liability for FY 2019-20 and make sure they are maximising their Section 80C benefits if not already done so."</p>
<p class="bodytext">The income tax department has notified forms for filing income tax returns for the financial year 2019-20.</p>.<p class="bodytext">The Central Board of Direct Taxes (CBDT) has notified Sahaj (ITR-1), Form ITR-2, Form ITR-3, Form Sugam (ITR-4), Form ITR-5, Form ITR-6, Form ITR-7 and Form ITR-V for the assessment year 2020-21.</p>.<p><a href="https://www.deccanherald.com/national/coronavirus-in-india-live-updates-today-lockdown-50-maharashtra-karnataka-tamil-nadu-mumbai-bangalore-delhi-bengaluru-kolkata-chennai-covid-19-news-world-narendra-modi-843634.html"><strong>For latest updates on coronavirus, click here</strong></a></p>.<p class="bodytext">The department has revised the I-T return forms for the financial year 2019-20 to allow assessees to avail benefits of various timeline extension granted by the government following the COVID-19 outbreak.</p>.<p class="bodytext">The government has extended various timelines under the Income Tax Act, 1961, through the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020.</p>.<p class="bodytext">Accordingly, the time for making investment or payments for claiming deduction under Chapter-VIA-B of IT Act that include Section 80C (LIC, PPF, NSC etc.), 80D (Mediclaim) and 80G (Donations) for the financial year 2019-20 had been extended to June 30, 2020.</p>.<p class="bodytext">ClearTax founder and CEO Archit Gupta said, "The new forms require a separate table to disclose tax saving investment made in the first quarter of 2020 for availing them in FY 2019-20. Taxpayers must assess their tax liability for FY 2019-20 and make sure they are maximising their Section 80C benefits if not already done so."</p>