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New Delhi, May 31: The income tax department has notified forms for filing income tax returns for the financial year 2019-20.

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.

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.

The government has extended various timelines under the Income Tax Act, 1961, through the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020.

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.

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."

New Delhi, July 20: India's retail trade has suffered a business loss of about Rs 15.5 lakh crore in past 100 days due to the COVID-19 lockdown, traders' body CAIT said on Sunday. 

In a statement, the Confederation of All India Traders (CAIT) said traders across the country are depressed because of minimal of the consumers, considerable absence of employees, facing financial crunch and yet have to meet several financial obligations.

"No support policy from the central or state governments is yet another crucial factor which is haunting the traders," CAIT claimed. 

CAIT Secretary General Praveen Khandelwal said the domestic trade is passing through its worst period in the current century which reflects that if immediate steps are not taken about 20 per cent of the shops in India will have to close down their shutters.

The traders’ body has also urged the government to award a substantial package to traders to ensure their survival. Their demands include: Relaxation in payment of taxes, extension in repayment of bank loans and EMIs without any further interest or penalty as well as measures that would provide money directly in the hands of the traders.

In April, the losses stood at about Rs. 5 lakh crore whereas in May it was estimated to be about Rs. 4.5 lakh crore, followed by Rs. 4 lakh crore in June. Losses stood at about 2.5 lakh crore in the first fortnight of July offering a grim snapshot of the effect of the pandemic on consumer spending. 

“Even as the lockdown was relaxed, store footfall was only 10 per cent. Most of these traders do not have deep pockets to sustain this severe economic catastrophe and on the other hand have several financial obligations to meet. At this crucial time, handholding of these traders is all the more much required,” Khandelwal said.

New Delhi, Jul 25: Congress leader Priyanka Gandhi Vadra on Saturday attacked the Yogi Adityanath government over its handling of the Covid-19 crisis, saying that at a time when there is an "explosive" rise in cases, the state dispensation's "no test is equal to no corona" policy can lead to a "more frightening situation".

In a letter to the Uttar Pradesh chief minister, the Congress general secretary said that the situation is getting serious and the battle against the pandemic cannot be fought just by publicity and managing news.

Priyanka Gandhi said she hopes the chief minister will take "big and effective" steps that will assure people that the government is committed to protect their lives and they will not be left to God for protection.

"By showing the fear of coronavirus, corruption is thriving. If this is not reined in, the battle against coronavirus will turn into a disaster," Priyanka Gandhi said.

Noting that 2,500 cases of coronavirus were reported in UP on Friday, she said almost all the metros were flooded with Covid-19 cases, but now even the villages were not unaffected by its spread.

"Quarantine centres in UP are in a pathetic state. In some places, the situation is so bad, that people are fearing mismanagement more than the coronavirus. Because of such a scenario, they are not stepping out of their homes for getting tested," Priyanka Gandhi said.

"This is a major failure of the government," she asserted.

The state government by believing in the "no test = no corona" mantra has adopted a low testing policy, she alleged in the letter written in Hindi.

"There is an explosive rise in Covid-19 cases. Till testing will not be increased in a transparent manner, the fight against the pandemic will be incomplete and the situation can become more frightening," she said.

"Your government claimed that there is provision for 1.5 lakh beds, but with only about 20,000 active infected cases, there is a scampering for beds," she said.

If there is a huge crowd in front of the hospitals, then why is the UP government not constructing temporary hospitals on the lines of those set up in Mumbai and Delhi, Priyanka Gandhi asked.

Availing medical facility is the fundamental right of every citizen, she asserted.

"The prime minister is a Member of Parliament from Varanasi, the defence minister is from Lucknow, many other Union ministers are from UP. Why can't temporary hospitals be opened in Varanasi, Lucknow, Agra etc." Priyanka Gandhi asked.

She suggested that temporary hospitals can be operated by the Defence Research and Development Organisation (DRDO), the Army and the paramilitary, or if need be, the DRDO hospital can be brought to Lucknow.

Also, central facilities set up in Delhi can also be used for border districts, Priyanka Gandhi said, adding that their utilisation is not being maximised there.

Noting that home isolation was a good step, she said it should not be implemented in haste.

Informed decisions should be taken on key matters related to home isolation like what will be the arrangement for monitoring patients, who needs to be informed if the patient's condition worsens and what will the medical facilities cost in home isolation, she said.

What will be the arrangement for checking the temperature and oxygen level of the patients in home isolation, she further asked in the letter.

The government should do a complete mapping of it and give complete information at the local level to the public, Priyanka Gandhi said.

The Congress general secretary said that she realises, that often the state government feels that the Congress' suggestions are given only from a political point of view.

"This was evident from the response of your government while we were trying to get buses for UP workers who were walking home," she said.

"I want to assure you once again that protecting the health and life of the people of Uttar Pradesh is our biggest sentiment at this time. We are continuously striving with constructive support and a spirit of service," she said in the letter.

At this time when the pandemic is growing rapidly, the Congress stands with the people of UP and is ready to give full support to the state government, she said.

Tightening its grip over Uttar Pradesh, Covid-19 claimed a record 50 lives in the state on Friday as the deadly virus infected 2,667 people more in the largest single-day spike till date.