Companies other than companies claiming exemption under Section 11 can file ITR Form 6. Trusts, political parties, charitable institutions, etc. claiming exempt income under the Act can file ITR Form 7.
At the meeting, CBDT Chairman P.C. Mody highlighted the details and backdrop of the Faceless Assessment Scheme and Taxpayers' Charter but also took care to remove doubts in the mind of officers on the reallocation and reorganisation aspects of the department's manpower in wake of the proposed changes.
The date for commencement of operation for the SEZ units for claiming deduction under deduction 10AA of the IT Act has also been further extended to September, 30, 2020 for the units which received necessary approval by 31st March, 2020.
The return filing utility after incorporating necessary changes shall be made available by 31st May 2020 to avail benefits for FY 2019-20, CBDT said.
The Central Board of Direct Taxes has extended the deadline in view of some taxpayers facing difficulties in filing their ITR due to various reasons including the extension of due date for issue of Form 16
While the Corporate Income Tax was growing at 17.7 per cent, Personal Income Tax collections were growing at 16 per cent
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