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Updated Extended Due Dates for Income Tax Compliance

CA Hitesh Goyal 04 Aug 2020 21,408 Views 1 comment Print Income Tax | Articles

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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.

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 .	30^th 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			15^th 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.	17^th 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.
6)	March 2020 to Nov. 2020	Form No. 27C Part-II	Monthly	Within 7 days from the end of relevant month.	31st March 2021		Not leviable i.e. Nil in all cases except Feb.’ 2020.
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
3	Audit Report of Trust	Form 10 B	Yearly	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	15^th March 2020	15^th 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
9	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.

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Name: CA Hitesh Goyal

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Company: Goyal Hitesh & Co., Chartered Accountants

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One Comment

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??

Reply

August 12, 2020 at 1:04 am

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Updated Extended Due Dates for Income Tax Compliance

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.

4)

A) Issuance of TDS Certificate in respect of salary paid and tax deducted during F/Y 2019-20

Form 16

Yearly

30^th April’20