Podcast | Quick look 9: Unlock 1.0 and modified ITR forms for FY20

Siddharth Mathew Cherian | Updated on May 31, 2020 Published on May 31, 2020

Hi and welcome to Quick look. I am Siddharth Mathew. Looking forward to stepping out?

In its recent order, The Ministry of Home Affairs said that all activities will be relaxed in phased manner outside containment zones.

The order also stated that the  the lockdown restrictions will continue till June 30 within the containment zones.

The first phase of the nationwide 'Unlock' will start on June eighth.

Some activities will commence across the country. These include activities related to religious places, hotels, restaurants, other hospitality services and shopping malls.

The second phase would see the re-opening of schools, colleges, educational institutions, training as well as coaching institutions and similar centres.

But these decisions will be implemented after the governments of the States and Union Territories.

In the third phase, international air travel, Metro Rail services, cinema halls, swimming pools, and similar places would commence their activities again.

The decision and dates in this regard will be based on the assessment of the respective regions.

The Finance Ministry has also notified a new Income Tax returns form for the Fiscal Year 2019-20.

The due date for all income-tax return filings has already been extended to November 30, while the date for returns related with tax audit has been extended to October 31.

The new forms have a dedicated column for investments, payments and deposits, that were made during April first  and June thirtieth for the Fiscal Year 2019-20.

Tune in next week for another episode of Quick Look. Until then, stay safe

Published on May 31, 2020