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Various Relaxations under the Income Tax

Various Relaxations under the Income Tax

The Indian Government had extended various due dates in the month of March 2020 under the Income Tax Act on account of the covid crisis in the country by issuing the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 (hereinafter referred to as the ‘Ordinance 2020’). Since the crisis has not been fully contained, the Government hereby came out with further relaxations through its notification and press release dated June 24, 2020 for multiple deadline extensions. In the ‘Ordinance 2020’ the various due dates under the Income Tax Act for compliance which were falling due between 20 March 2020 to 29 June 2020 were extended up-to 30 June 2020. Now the due date for the same compliances which are falling due up to 31 December 2020 has been extended to 31 March 2021, except for the below-

Serial No. Particulars Revised Due Date
1. Date for filing Income Tax Returns for the FY 2018-19 31-Jul-2020
2. Date for filing Income Tax Returns for the FY 2019-20 (all type of assessees) 30-Nov-2020
3. Tax Audit Report for the FY 2019-20 (Non Transfer Pricing cases) 31-Oct-2020
4. TDS and TCS return for the quarter ending 31 March 2020 31-Jul-2020
5 Form 16 / Form 16A for the year / quarter ending 31 March 2020 15-Aug-2020
6. Where the compliance is required to be done up to 29 September 2020 for making investment/ construction/ purchase for claiming roll over benefit/ deduction in respect of capital gains under sections 54 to 54GB of the Income Tax Act 30-Sep-2020
7. For the purpose of claiming deduction under Chapter VI-A Heading B, like 80C (LIC, PPF, NSC etc.), 80D (Mediclaim), 80G (Donations), 80CCD (NPS) etc. for the FY 2019-20, investment can be made up to 31-Jul-2020
8. Date for commencement of operation in SEZ units for which letter of approval received up to 31 March 2020 for the purpose of claiming deductions u/s 10AA of the Income Tax Act 30-Sep-2020
9. Payment of self-assessment tax for the FY 19-20, where total self-assessment tax payable is upto INR 1 lakh. (For self assessment tax more than INR 1 lakh the date has not been extended and interest u/s 234A shall be levied) 30-Nov-2020
10. Linking Adhaar with PAN 31-Mar-2021

Apart from the above extensions, it has been clarified that the reduced rate of 9% interest for the delayed payments of taxes, will not be applicable if the delayed payment is made after 30 June 2020.


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