Due Dates
In this article, we have enumerated the impact of the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 (hereinafter referred to as ‘Ordinance 2020’) and Notification No. 35 /2020, dated 24-06-2020 on various due dates of compliances under the Income-tax Act, 1961 in the below tables.
I. Due Dates Relating to Income-Tax Returns and Audit Reports:
| Section | Nature of Compliance | Original Due Date | Due Date Extended by The Ordinance 2020 | New Due Dates Notification no. 35/2020 dated 24-06-2020
|
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| Section 139(1) | Filing of original return for the Assessment Year 2019-20 | – | – | 31-07-2020 | ||||
| Section 139(4) | Filing of belated return for the Assessment Year 2019-20 | 31-03-2020 | 30-06-2020 | 31-07-2020 | ||||
| Section 139(5) | Filing of revised return for the Assessment Year 2019-20 | 31-03-2020 | 30-06-2020 | 31-07-2020 | ||||
| Section 139(1) | Filing of original return for the Assessment Year 2020-21 [Refer Note] | |||||||
| (a) If assesses is required to furnish a report of transfer pricing (TP) Audit in Form No. 3CEB. | 30-11-2020 | – | 30-11-2020 | |||||
| (b) A company assessee | 31-10-2020 | – | 30-11-2020 | |||||
| (c) Any assessee who is required to get its accounts audited under the Income-tax Act or under any other law | 31-10-2020 | – | 30-11-2020 | |||||
| (d) An Individual assessee who is a partner in a firm whose accounts are required to be audited. | 31-10-2020 | – | 30-11-2020 | |||||
| (e) In any other case | 31-07-2020 | – | 30-11-2020 | |||||
| Section 143(1) | Sending an intimation after processing of return of income (ITR), if the return is filed during the financial year 2018-19:
|
31-03-2020 | 30-06-2020 | 31-03-2021 | ||||
| Section 143(3) | Scrutiny assessment under Section 143(3) for the assessment year 2018-19. | 30-09-2020 | – | 31-03-20211 | ||||
| Section 144 | Scrutiny assessment under Section 144 for the assessment year 2018-19. | 30-09-2020 | – | 31-03-20212 | ||||
| Section 149 | Time-limit to issue a reassessment notice, if it expires during 20-03-2020 and 31-12-2020. | – | – | 31-03-2021 | ||||
| Section 44AB | Furnishing of tax audit report for the Assessment Year 2020-21 | 30-09-2020 | – | 31-10-2020 | ||||
| Note: Though the due date for filing of Income-tax Return for the Assessment Year 2020-21 has been extended to 30-11-2020, but no relief shall be provided from the interest chargeable under section 234A if the tax liability exceeds ₹ 1 lakh. Thus, if self-assessment tax liability of a taxpayer exceeds ₹ 1 lakh, he would be liable to pay interest under section 234A from the expiry of original due dates, that is, 31-07-2020 or 31-10-2020. The interest under section 234A shall not be levied if the self-assessment tax liability of taxpayer does not exceed ₹ 1 lakh and ITR if filed within the extended due date, that is, 30-11-2020. | ||||||||
II. Due dates relating to TDS and TCS related compliances
| Section | Nature of Compliance | Original Due Date | Due Date Extended by The Ordinance 2020 | New Due Dates Notification no. 35/2020 dated 24-06-2020
|
| Filing of TDS/TCS Statement | ||||
| Section 200 read with Rule 31A or Section 206C read with Rule 31AA | Form 24Q, 26Q, 27Q and 27EQ of Qtr. 4 of the Financial Year 2019-20 | 31-05-2020 | 30-06-2020 | 31-07-2020 |
| Form 24Q, 26Q, 27Q and 27EQ of Qtr. 1 and Qtr. 2 of the Financial Year 2020-21 | As per Rule 31A/31AA | – | 31-03-2021 | |
| Form 24QB, 24QC and 24QD of Feb. 2020 | 30-03-2020 | 30-06-2020 | 31-07-2020 | |
| Form 24QB, 24QC and 24QD of March 2020 | 30-04-2020 | 30-06-2020 | 31-07-2020 | |
| Form 24QB, 24QC and 24QD of April to November, 2020 | 30 days from end of month in which tax is deducted | – | 31-03-2021 | |
| Issue Of TDS/TCS Certificate | ||||
| Section 203 read with Rule 31 | Form 16 for tax deducted from salary paid during the Financial Year 2019-20 | 15-06-2020 | 30-06-2020 | 15-08-2020 |
| Form 16A for tax deducted from payments (other than salary) for Qtr. ending March 31, 2020 | 15-06-2020 | 15-07-2020 | 15-08-2020 | |
| Form 16B/16C/16D for tax deducted under section 194-IA/194-IB/194M during February 2020 | 14-04-2020 | 15-07-2020 | 15-08-2020 | |
| Form 16B/16C/16D for tax deducted under section 194-IA/194-IB/194M during March 2020 | 15-05-2020 | 15-07-2020 | 15-08-2020 | |
| Section 206C read with rule 37D | Issue of TCS certificate for the 4th Qtr. of the Financial Year 2019-20 | 30-05-2020 | 15-07-2020 | 15-08-2020 |
III. Other due dates
| Section | Particulars | Original Due Date | Due Date Extended by The Ordinance 2020 | New Due Dates Notification no. 35/2020
dated 24-06-2020 |
| Section 139AA | Linking of Aadhaar number and PAN | 31-03-2020 | 30-06-2020 | 31-03-2021 |
| Section 139AA read with 114AAA | Inoperative PAN due to non-linking with Aadhaar number | 31-03-2020 | 31-03-2020 | 31-03-2020 |
| Section 54 to 54GB | Making Investments or completing construction or purchase for claiming deduction from capital gains arising during the Financial Year 2019-20, where the due date falls between 20-03-2020 to 29-09-2020. | – | 30-06-2020 | 30-09-2020 |
| Chapter VIA (Part B) | Making investments or payments for tax savings for the Financial Year 2019-20 (Section 80C to 80GGC) | 31-03-2020 | 30-06-2020 | 31-07-2020 |
| Section 285BA read with Rule 114E | Furnishing the Statement of Financial Transactions (SFT) for the FY 2019-20. | 31-05-2020 | 30-06-2020 | 31-03-2021 |
| – | Passing of order or issuance of notice, notification, sanction or approval by the authorities, commissioners or tribunal The extension has been given in those cases where the due date falls between 20-03-2020 to 31-12-2020. | – | 30-06-2020 | 31-03-2021 |
| – | Filing of appeal, reply or application or furnishing of any report, document etc. The extension has been given in those cases where the due date falls between 20-03-2020 to 31-12-2020. | – | 30-06-2020 | 31-03-2021 |
| – | Application for new procedure for approval, re-registration or notification of certain entities under Sections 10(23C), 12AB, 35 and 80G | 01-06-2020 | 01-10-2020 | 01-10-2020 |
| Direct Tax Vivad se Vishwas Act, 2020 | Filing of application without payment additional charge. | 31-03-2020 | 30-06-2020 | 31-12-2020 |