An individual whose self-assessment tax liability exceeds Rs 1 lakh, the last day for payment is July 31 otherwise penal interest @ 1% per month will be levied. Last date for filing ITR (original and revised) for FY 2018-19 is July 31. The deadline to make tax-saving investments like PPF, 5-year FDs etc for FY 2019-20 was extended to July 31. Last date to file TDS and TCS statement for FY 2019-20 has also been extended to July 31. EPF contributions by employees and employers will be restored to 12% from next month instead of the reduced rate of 10%.