Notification No. 35/2020/ F. No. 370142/23/2020-TPL Dated 24th June 2020

In order to provide further relief to the taxpayers for making various compliances, the Government has issued Income Tax Notification No. 35/2020 dated 24th June 2020 amending The Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020, thereby extending due dates under various provisions of Income Tax Act.

A brief summary of the extended due dates are as follows:

Sl. Particulars Due Date
1. Income Tax Return u/s 139 – F.Y. 2018-19 31st July 2020
2. Income Tax Return u/s 139 – F.Y. 2019-20 30th November 2020
3. Income Tax Audits – F.Y. 2019-20 31st October 2020
4. Payment of self-assessment tax without any interest u/s 234A (tax payment upto Rs. One Lakh) 30th November 2020
5. Submission of TDS/TCS returns (Feb/March 2020 or for the quarter ending 31st March 2020

–        Government Departments

–        Others

15th July 2020

31st July 2020

6. Furnishing TDS/TCS certificates 15th August 2020
7. Investments under chapter VI-A

(covering section 80C, 80D, 80G, etc.)

31st July 2020
8. Investment under section 54 to 54GB  for taking benefits of capital gain exemptions 30th September 2020
9. Commencement of operation for the SEZ units for claiming deduction under deduction 10AA 30th September 2020
10. “Vivid se Vishwas” scheme – 10% benefit 31st December 2020

Further, all the other time limits which falls for completion or compliance by 31st December 2020 shall be deemed to be extended till 31st March 2021 as the due date for completion or compliance of such actions. Some of those items include:

a) completion of any proceeding or passing of any order or issuance of any notice, intimation, notification, sanction or approval or such other action, by whatever name called, by any authority, commission or tribunal, by whatever name called, under the provisions of the specified Act; or

b) filing of any appeal, reply or application or furnishing of any report, document, return, statement or such other record, by whatever name called, under the provisions of the specified Act.

This notification shall come into force from the 30th June, 2020.

The Author, Deepanshu Gupta, is Managing Partner of DGA which is a multi-disciplinary audit and advisory firm providing gamut of services including audit, income tax, consulting and outsourcing services and can be contacted at [email protected]

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8 Comments

  1. Yatin vohra says:

    Has the date for issuing notice under section 148 for the financial year 2012-13 (income escaped above rs 1lakh) also been increased to 31st March 2021 ?? Please clarify.

  2. UMAID SINGH BHANDARI says:

    As per notification No. 35/2020/F. NO. 370142/23/2020-TPL
    THE ABOVE ONE LAKH IS TO BE DEPOSITED BEFORE 31/07/2020 OR TO DEPOSITED WHEN RETURN IS FILED BEFORE 30TH NOVEMBER..
    I AM SENIOR CITIZEN AND ALSO NOT HAVING BUSINESS INCOME THE AT WHAT TIME THE TAX ABOVE 1.00 LAKH IS TO BE DEPOSITED.
    PREVIOUSLY THE TAX WAS DEPOSITED BY SENIOR CITIZEN ALONG WITH ITR FILED DATE I, E, 31/07/2020
    KINDLY CONFIRM UNDER NOTIFICATION 35/2020 WHEN THE TAX ABOVE 1.00 LAKH IS TO BE DEPOSITED BY SENIOR CITIZEN WHO IS NOT HAVING BUSINESS INCOME.
    KINDLY REPLY SEND ON MY MOBILE WHATSAPP 9314805623 OR MY EMAIL [email protected]
    9314805623 UMAID SINGH BHANDARI

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