Extension or relaxation in due date under Income Tax Act, 1961
In exercise of the powers conferred by sub-section (1) of section 3 of the
Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 (2
of 2020), the Central Government further extended the due date of furnishing
Income Tax Return or Audit report under the Act, as well as relaxation has been
given by extending period for making invest under section 54 or section 54B or
under chapter-VI-A of the Act.
Brief of the Extension or relaxation are as under:-
(1) Extension of due date to file Income Tax return u/s 139
|
For Assessment Year 2019-20 |
the end date shall be extended to the 31st day of
July, 2020; |
|
For the Assessment Year 2020-21 |
the end date shall be extended to the 30th day of
November, 2020; |
(2) Extension of due date to submit TDS/TCS statement
|
under section 200 (2A) /Section 206C(3A) for the month of Feb 2020 (i.e.
statement by Government offices) :- for the month of February or March, 2020, or for the quarter ending on the 31st day of March, 2020, |
the end date shall be extended to the 15th day of July, 2020; |
|
under section 200 (3) /Section 206C(3) for the month of Feb 2020 (i.e.
statement by other than Government
offices) :- for the month of February or March, 2020, or for the quarter ending on the 31st day
of March, 2020, |
The end date shall be extended to the 31st day of July, 2020; |
Read:-How to comply with TDS/TCS Provisions?
(3) Furnishing the TDS Certificate under section 203
|
In respect of the TDS deducted and deposited u/s 192 for
the financial year 2019-20, |
the end date shall be extended to the 15th day of
August, 2020; |
(4) Relaxation in the period to comply with provision under section 54 or section 54B etc
the end
date in respect of the time limit for the completion or compliance and the end
date for making the said completion or compliance, shall be the
29th
day
of September, 2020 and the 30th day of September, 2020 respectively;
It means acquisition,
purchase, construction or any other such action can be completed on or before
29th September or 30th September as the case may be.
(5) Relaxation in the period to comply with provision under Chapter VI-A under the heading B of the Act
The end date for making the said completion or compliance,
shall be the 30th day of July, 2020 and the 31st day of July, 2020
respectively;
(6)
Due date for furnishing audit under any
provisions of the Act for the Assessment Year 2020-21
The end date shall be extended to the 31st day of
October, 2020:
Source/Reference:- [Notification No.35 /2020/ F. No. 370142/23/2020-TPL]
Source Link:- Notification
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