(Issued vide CBDT Notification No. 35/2020 dated 24.06.2020 read with Ordinance dated 31.03.2020)

The Government brought the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 on 31st March, 2020 which provided for extension of various time limits under the Direct Tax Laws.

In order to provide further relief for making various compliances, the Government has issued a Notification on 24th June, 2020, details of which are as under:

1. Extension of various due dates for making compliances/ payments under direct tax laws:

Sr. No. Particular Extended Due Date
1 Filing of original as well as revised income-tax returns for the FY 2018-19 (AY 2019-20) 31st July 2020
2 Filing income tax return for the FY 2019-20 (AY 2020-21)- for both audited and non audited tax payers 30th Nov 2020
3 Furnishing tax audit report for the FY 2019-20 (AY 2020-21) 31st October 2020
4 The due date for payment of self-assessment tax in the case of a taxpayer whose self-assessment tax liability is upto Rs. 1 lakh 30th Nov 2020
5 For making investments/payments etc. for claiming deduction under Chapter VIA – Part B which includes section 80C (LIC, PPF, NSC etc.), 80D (Mediclaim), 80G (Donations) etc. for FY 2019-20 31st July 2020
6 Due date for claiming Capital Gain deductions under sections 54 to 54GB of the IT Act 30th Sept 2020
7 The date for commencement of operation for the SEZ units for claiming deduction under Section 10AA for the units which received necessary approval by 31.03.2020 30th Sept 2020
8 The due date for furnishing of TDS/ TCS statements for the for the month of February or March, 2020, or for the quarter ending on the 31st March, 2020 as the case may be 31st July 2020
9 The due date for issuance of TDS/ TCS certificates for the FY 2019-20 15th August 2020
10 Aadhaar-PAN linking date 31st March 2021

2. Extension in due date for passing of order/ issuance of notice by tax authorities to 31.03.2021:

The due date for

√ Completion of any proceeding,

√ passing of any order or

√ issuance of any notice, intimation, notification, sanction or approval

by any authority, commission or tribunal under various Direct Taxes Law & Benami Law (wherever such due date falls during the period from 20th March 2020 to 31st December  2020) is extended till 31st March 2021.

Thus due date for issuance of notice u/s 147 read with sec 148 for the AY 2013-14 or AY 2015-16 as the case may be also gets extended till 31.03.2021.

3. Relaxation of time limit for compliance under Direct Taxes Law & Benami Law till 31.03.2021):

Time limit for

√ Filing of any appeal

√ Making any reply/ submissions

√ Making any applications

√ Furnishing of any report, document, return, statement etc.

by any person under various Direct Taxes Law & Benami Law (wherever such due date falls during the period from the 20th March, 2020 to the 31st December 2020) is extended till 31st March, 2021. However such relaxation will not be applicable for payment of taxes (Eg. Advance Tax/ TDS etc.)

4. No reduction in Interest rate in respect of delayed payment of any tax under Direct Tax Laws:

The reduced rate of interest of 9% for delayed payments of taxes specified in the Ordinance shall not be applicable for the payments made after 30th June, 2020.

5. Extension of time-limit for making declaration/payment etc. under newly introduced “Direct tax Vivad se Vishwas Scheme, 2020”:

√ Under Vivad se Vishwas Scheme, the due date for making declaration/ payment etc. has been extended up to 31st December 2020.

√ Hence, declaration and payment under the dispute resolution scheme can be made up to 31st December 2020 without making any additional payment.

(Disclaimer: This write up is based on the understanding and interpretation of the author and the same is not intended to be a professional advice.)

[The author is a Practicing Chartered Accountant and can also be reached at [email protected]]

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