Time Limit Extension to process Income-Tax returns

The income-tax department has asked its officers to process Income-Tax returns u/s 143(1) filed up to the AY 2017-18 with refund claims by 31-Oct-2020.

Impact: CBDT has issued an order which has extended the time limit given to the IT officers by 31-Oct-2020 from the earlier deadline of 31-Dec-2019 to process the IT returns with refund claims. Therefore, assesses can expect acknowledgment u/s 143(1) for the returns filed up to AY 2017-18 soon.