Government of India has extended Due dates for various Statutory compliance under Income Tax Act,1961 through ‘THE TAXATION AND OTHER LAWS (RELAXATION OF CERTAIN PROVISIONS) ORDINANCE, 2020‘, which came in pubic domain on 31st March 20 and other notifications issued from time to time up to 31st July’2020.

I have tried to complied all the Key compliance falls during the period March 2020 to December 2020 alongwith detailed analysis of relaxation given from various legal Consequences, which are otherwise applicable under Income Tax Act, 1961.

Due Dates

Statutory Compliances under Income Tax Act
S. No
Nature of Obligation / Particulars
Form / Challan
Frequency
Original Due Date
Extended Due Date
Original consequence like Interest / penalty / Fee
Revised consequence like Interest / penalty / Fee
Extension & Relief for TDS & TCS related Compliances:-
1)
Due date for deposit of TDS / TCS for the month of: –
Challan No. ITNS 281
Monthly
1) Interest @ 1% / 1.5% p.m. or part thereof as the case may be u/s 201(1A) & 206C (7);
2) Penalty u/s 221 or 271C/CA up to TDS / TCS amount;
3) Punishable with rigorous Imprisonment for (Mini. 3 months or Maxi. 7 years) with fine u/s 276B/BB
1) For the payments due before 20th March’20 or after 30th June’20, intt. will be payable @ 1%/1.5% p.m. or part thereof and penalties & prosecution is also applicable
2) For all other payments due after 20th March’20 and before 30th June’20 interest @ 0.75% p.m. or part thereof and all penalties & prosecution is waived off if Taxes paid on or before 30th June’2020.
Febuary’2020
7th March’20
7th March’20
March’2020
30th April’20
.
30th April’20
April, 2020
7th May’20
7th May’20
May’2020
7th June’20
7th june’20
June’2020 to December’2020
7th of following Month
7th of following Month.
2)
Due dates for filing of Quarterly statement of TDS / TCS deposited for the quarter ending
Quarterly
1) Late Fee u/s 234E of Rs. 200 per day & up to the amount of TDS deducted / TCS collected.
2) Penalty u/s 272A @ Rs. 100 per day and maxi. up to the amount of TDS deducted / TCS collected.
3) Penalty u/s 271H mini. 10,000 to maxi.
1,00,000.
1) Not leviable i.e. Nil.
March 31, 2020
(TDS)
24Q, 26Q, 27Q
31st May 2020
31st July 2020
June 30, 2020
31st July 2020
31st March 21
September 30, 2020
31st Oct. 2020
31st March 2021
March 31, 2020
(TCS)
27EQ
15th May 20
31st July 2020
June 30, 2020
15th July 20
31st March 2021
September 30, 2020
15th Oct. 2020
31st March 2021
3)
Furnishing of challan-cum-statement for tax deducted u/s
194-IA (Purchase of property >50 Lacs) for the month of: –
February’ 20 to April’ 20
May’ 20 to Nov.’ 20
 26QB
 Monthly
 Payment to be made within 30 days from the end of relevant month.
Payment to be made within 30 days from the end of relevant month.
Same Interest, penalty & prosecution as mentioned in para 1 & 2 above except disallowance of expense.
1) Interest will be charged @ 0.75% p.m. or part thereof only as discuss above if payment made before 30th June. Further, if statement for Feb.’20 to April’20 filed up to 31st July and for the period May’20 to Nov.’20 filed up to 31st March’21 then original consequences mention in para-2 is waived off but consequences of Para-1 will be applicable.
4)
A) Issuance of TDS Certificate in respect of salary paid and tax deducted during F/Y 2019-20
Form 16
Yearly
15th June 2020
15th Aug. 2020
Penalty u/s 272A @ Rs. 100 per day and maxi. up to the amount of TDS / TCS deducted / Collected.
Not leviable i.e. Nil
B) Issuance of TDS certificates
(other than salary) for the quarter ending
March 31, 2020
Form 16A
Quarterly
15th June 2020
15th Aug. 2020
June 30, 2020
15th Aug. 2020
15th April 2021
September 30, 2020
15th Nov. 20 20
15th April 2021
C) Issuance of Quarterly TCS certificates for the quarter ending
March 31, 2020
Form 27D
Quarterly
30th May’20
15th Aug. 2020
June 30, 2020
30th July 2020
15th April 2021
September 30, 2020
30th Oct. 2020
15th April 2021
5)
Issuance of TDS Certificate for tax deducted under Section 194-IA in the month of: –
January’ 2020
16B
Monthly
 Within fifteen days from the due date for furnishing the TDS Returns.
17th March 2020
Penalty u/s 272A @ Rs. 100 per day and maxi. up to the amount of TDS deducted.
Not leviable i.e. Nil in all cases except Jan’2020.
February’ 2020 & March’ 2020
15th Aug. 2020
April’ 2020 to Nov.’2020
15th April 2021
6)
Due date for submission of Form- 27C (Part-I)
Febuary’2020
Form No. 27C Part-II
Monthly
7th Mar. 2020
7th March 2020
Penalty u/s 272A @ Rs. 100 per day and maxi. Up to the amount of TCS collectible.
Not leviable i.e. Nil in all cases except Feb.’ 2020.
March 2020 to Nov. 2020
Within 7 days from the end of relevant month.
31st March 2021
Extension & Relief for other Income Tax compliances :-
1)
Due dates for filing of income tax returns: –
All ITR Forms
 Yearly
1) Interest @ 1% p.m. or part thereof u/s 234 A/B respectively.
2) Further, in case of belated return you are liable for late fee u/s 234F mini. 1000 to maxi. 10,000.
No relief has been given for Interest & Late fee as otherwise applicable for the F/Y 2018-2019.
For F/Y 2019-2020, interest u/s 234A will not charge from original due date if Self-Assessment Tax is < 1 lacs if ITR filed till 30th Nov. 20 and further, late fee is also not leviable in all cases.
Belated / Revised ITR for FY 2018-19 (AY 2019-20)
31st March 2020
31st July 2020
Original ITRs for FY 2019-20 (AY 2020-21)
31st July20
31st Oct.’20
30th Nov. 2020
2)
The last date for linking of PAN with Aadhaar.
NA
One Time
31st Mar.’20
31st Mar.’21
PAN would be de-activated after 31st March’20.
Not de-activated till 31st March’21.
3
Due date for furnishing Audit report for F/Y 2019-20: –
Tax Audit Report
Form 3CA/ CB/CD
Yearly
30th Sept. 2020
31st Oct. 2020
In case of Tax Audit, liable for penalty @ 0.5% of the turnover or Rs. 1.5 lakh whichever is lower.
Not Leviable i.e. NIL
Audit Report of Trust
Form 10 B
30th Sept. 2020
31st Oct. 2020
In case of Form-10B, Exemption u/s 11 & 12 Not allowed.
Exemption u/s 11 &12 available if filed within extended due date.
4
Due dates for making various investment / payment for claiming
deduction under Section 80C (LIC, PPF, NSC etc.), 80D (Mediclaim), 80G (Donation), etc.
Yearly
Falls during the period 20th March’20
to 30th July’20
31st July’20
No deduction allowed during F/Y 2019-20 if not paid on due date.
You can claim deductions during F/Y 2019-20 if paid before 31st July’2020.
5
Due dates for making investment/ construction/ purchase of Residential House, Bonds etc. for claiming roll over benefit / deduction in respect of capital gains under sections 54 to 54GB
Yearly or Transaction wise.
Falls during the period 20th March 2020 to 29th Sep. 2020
30th Sep.’20
No deduction allowed during F/Y 2019-20 if not paid on due date.
You can claim deductions during F/Y 2019-20 if paid before 30th Sep.’2020.
6
A) Payment of 4th instalment of advance income tax for the A/Y 2020-21.
B) Payment of whole amount of advance tax for the A/Y 2020-21 (under presumptive scheme of Section 44AD/ 44ADA)
ITNS-280
Quarterly
15th March  2020
15th March  2020
Interest @ 1% p.m. or part thereof u/s 234C
Interest @ 1% p.m. or part thereof u/s 234C
7
Instalments of Advance Tax for the Assessment year 2021-22
ITNS-280
Quarterly
15th June 2020
15th June 2020
Interest @ 1% p.m. or part thereof u/s 234C
Interest @ 0.75% p.m. or part thereof u/s 234C if paid before 30th June’2020. However, No Relief is given for Sep.’20 & Dec.’20 Quarter.
15th Sept. 2020
15th Sept. 2020
15th Dec. 2020
15th Dec. 2020
8
Due date for furnishing of statement of financial transaction (AIR) as per section 285BA (1) read with rule 114E for F/Y 2019-20.
Form No. 61A
Yearly
31st May’20
31st Mar.’21
Penalty u/s 271FA @ Rs. 500 per day.
Not Leviable i.e. NIL
9
1) For I. Tax Department
The time limit for the
i) completion of proceedings
ii) passing of any order
iii) Issue of notice,
iv) intimation,
v) notification,
vi) approval /sanction order
by any authority, Commission, Tribunal & other under the provision of Income Tax Act.
Expiring between 20th March’20 to 31st Dec.’20
31st Mar.’21
2) For Assessees The time limit for the
i) filing of an appeal / reply
ii) furnishing of any report or documents
iii) filing of Return / statements
iv) or any other records by any person under provision of Income tax Act.
Expiring between 20th March’ 2020 to 31st Dec. 2020
31st March 2021
10
The time limit for payment under the Direct Tax Vivad Se Vishwas Act, 2020.
Form-1 Form-2
One Time
31st March 2020
31st Dec. 2020
 10 / 5 % Additional Charges.
No Additional Charges will be levied if payment made up 31st Dec.’2020.
11
Verification of ITRs for the A/Y 2015-16, 2016-17, 2017-18, 2018-19 and 2019-20 which are pending due to non-filing of ITRV
Form.
ITRV
Yearly
120 days from date of uploading the ITR
30/09/2020except the cases, where Department has already taken action as per Act.
ITR is/can be declared Non-est in law i.e. do not exist, thereafter, all the consequences for non-filing ITR, as specified in the Income-tax Act, 1961 will be applicable.
ITR will not be declared Non-est in law and consequences for non-filing ITR, as specified in the Income-tax Act, 1961 will not be applicable.
12)
Application by Exiting trust / societies / other entities for Unique Approval / Registration number (UAN / URN), which are currently approval/ registration/ notification under u/s 10(23C), 12AA, 80G.
Not yet notify
One Time and after that once in Five Year
1st June’20 to 31st Aug.’20
1st Oct.’20 to 31st Dec.’20
Exemption u/s 11 & 12, 10(23C) are not available and Approval u/s 80G will also withdraw after 31st Aug.’20
Exemption u/s 11 & 12, 10(23C) will be available and approval u/s 80G is also valid till 31st Dec.’20.

Author Bio

Qualification: CA in Practice
Company: Goyal Hitesh & Co., Chartered Accountants
Location: FARIDABAD, Haryana, IN
Member Since: 26 Feb 2020 | Total Posts: 5

My Published Posts

More Under Income Tax

One Comment

  1. Ramesh Gupta says:

    Can you please share the basis on which you mentioned that Due Date of TDS Return filing for the QTR 2020-21 Q1 is 31st March’2021??

Leave a Comment

Your email address will not be published. Required fields are marked *

Search Posts by Date

October 2020
M T W T F S S
 1234
567891011
12131415161718
19202122232425
262728293031