monthly update

13) In June 2020, the deadline for investing in tax saving products for FY 2019-20 was further extended to 31st July 2020. Also stamp duty was introduced on purchase of securities like stocks, mutual funds, debentures, etc.

Particulars Old New
PAN Aadhar Linkage Deadline
  • Last date for linking PAN and Aadhar was 30th June 2020.
  • Last date for linking PAN and Aadhar has ben extended to 31st March 2021.
Investments for availing tax benefits for FY 2019-20
  • Investments for availing tax benefits for FY 2019-20 to be made by 30th June 2020.
  • Investments for availing tax benefits for FY 2019-20 can now be made up to 31st July 2020.
Due Date for filing Income Tax Returns for FY 2019-20
  • Deadline for filing Income Tax Returns for FY 2019-20 was 31st July 2020.
  • Deadline for filing Income Tax Returns for FY 2019-20 was 30th November 2020.
Belated Income Tax Returns for FY 2018-19
  • Last date for filing Belated income tax returns for FY 2018- 19 was extended to 30th June 2020.
  • A penalty or interest would however be applicable for filing belated returns.
  • Last date for filing Belated income tax returns for FY 2018- 19 was extended to 30th June 2020.
  • A penalty or interest would however be applicable for filing belated returns.
Stamp Duty
  • Stamp duty was not applicable on Securities like Mutual Fund / shares / NPS / ULIP/ PF.
  • Effective 1st July 2020, Stamp duty applicable on purchase of securities like shares, Mutual Funds,Debentures, ULIP, NPS, PF etc. ( Refer to the next slide for detailed information)
Withdrawal of Covid-19 relief measures
  • Partial withdrawal from EPF for Covid-19 related expenses.
  • ATM withdrawal charges waiver –3 months.
  • No Penalty for not maintaining minimum account balance.
  • Partial withdrawal from EPF for Covid-19 has been removed.
  • ATM withdrawal charges waiver no longer exists.
  • Penalty for not maintaining minimum account balance.
  • Mutual Funds : 0.005% on net investment
  • Mutual Fund transfers done on a platform or exchange : 0.015% on net investments.
  • Equity trades on delivery and non delivery basis: 0.015% and 0.003%.
  • For off market transactions, there was no stamp duty but now this is changed to 0.015% on buy side.

The articles are from various news publications & some of the articles may need a subscription.

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