The Government came up with a notification No. 35/2020 dated 24th June 2020 for extension of various due dates under the Income Tax Act. Please find below summary and key analysis for your reference:

Sr. No. Compliances Due date
1. Compliances (it does not include payment compliances) that fall between 20 March to 31 December 2020 other than mentioned in point 2 to point 11 below.

Note- This will include the following due dates:

a. Furnishing the SFT return;

b. Assessment proceedings

c. Linking of Aadhar to PAN

d. Filing of return for equalisation levy

Further, the validity of lower withholding certificates granted until 30 June 2020 has not been extended by the aforesaid notification.

31 March 2021
2. Income Tax Return AY 2019-20 (Belated/ Revised) 31 July 2020
3. Income Tax Return AY 2020-21 30 November 2020
4. Tax Audit AY 2020-21

Note- Clause 42 of Form 3CD (Tax Audit Report) has a specific disclosure as to whether the assessee is required to furnish statement in Form 61A/ 61B. If the due date of Form 61A is extended by the general clause, the due date of Form 3CD will also have to be extended in our opinion. Else, the utility for filing Form 3CD will have to be updated to exclude clause 42.

31 October 2020
5. TDS/ TCS returns for the period January 2020 to March 2020. 31 July 2020
6. TDS certificates (Form 16/ Form 16A) 15 August 2020
7. Investment in new property for claiming exemption under Section 54 or Section 54GB for FY 2019-20 30 September 2020
8. Chapter VI-A deductions in respect of payments (Eg. 80C, 80D, 80G, etc.) for FY 2019-20 31 July 2020
9. Payments made upto 30 June 2020 Interest at the rate of 0.75 per cent per month. Post that, general interest rate (1%/ 1.5%) to be applicable.
10. Interest under Section 234A- Applicable if return filed after 30 September 2020 (general case) /
30 November 2020 (Transfer Pricing case)- Interest applicable if tax amount is more than INR 1,00,000.
Not applicable
11. Vivad se Vishwas Scheme 31 December 2020

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