CBDT Notification No. 35/2020 Revised Income Tax Due Dates, Interest on Delayed Payment

Income Tax Revised Due Dates as CBDT Notification no 35/2020 dated 24.06.2020 which includes revised date for ITR, Income Tax Audit, Furnishing of TDS / TCS Statements, Interest on Delayed Payment of TDS, TCS, Advance Tax and SA Tax, Investment for claiming Deduction under Chapter VIA, Capital Gains Exemption under Sections 54 to 54GB, Issuance of TDS / TCS (FORM 16/16A) Certificates, Various Order under Direct Taxes & Benami Law,  Vivad Se Vishwas Scheme, 2020, Aadhaar and PAN CARD Linking Date.

 

Revised Income Tax Due Dates

 

All Return  Year

Due Date 

(Original)

Due Date

(Revised)

 Remarks
Income Tax Returns A.Y. 2019-20

 

(F.Y. 2018-19)

 31/03/2020 31/07/2020 Interest shall be levied u/s 234 A, B and C.

♦ No Penalty, however, Fees u/s 234F shall be applicable.
  A.Y. 2020-21

F.Y. 2019-20

 31/07/2020

 

or

31/10/2020

 30/11/2020 Section 234A:

 ♦ If Tax less than 100000, then no Interest u/s 234A

♦ If tax move than `100000, 234A Interest shall be levied

Section 234 B&C:

Interest shall be levied u/s 234 B and C in all cases
Income Tax Audit A.Y. 2019-20

F.Y. 2018-19

 31/10/2019 31/07/2020 Penalty u/s 271B  @ 0.5% of Turnover or `1,50,000/-, whichever is less
  A.Y. 2020-21

F.Y. 2019-20

 30/09/2020 31/10/2020 ♦ No Interest if filed within Revised Due Date

 

♦ No Penalty if filed within Revised Due Date
Investment for claiming Deduction under Chapter VIA A.Y. 2020-21

F.Y. 2019-20

 31/03/2020 31/07/2020 ♦ Section 80C

♦ Section 80D

♦ Section 80G

♦ Section 80E, etc.
Capital Gains Exemption u/s 54 to 54GB   As per Relevant Section 30/09/2020 Investment / Construction / Purchase made up to 30/09/2020 shall be eligible for claiming Deduction
Furnishing of TDS / TCS Statements Q4 of

F.Y. 2019-20

 31/05/2020 31/07/2020  
Issuance of TDS / TCS (form 16/16A) Certificates F.Y. 2019-20   15/08/2020  
Interest on Delayed Payment of TDS, TCS, Advance Tax, other tax.   9% upto 30/06/2020 12% or 18% after 30/06/2020  
Various Order under Direct Taxes & Benami Law   31/12/2020 31/03/2021 Includes all Time barring matters like Scrutiny, Appeal, Rectification, Revision, etc.
Aadhaar PAN Linking Date   30/06/2020 31/03/2021  
Vivad Se Vishwas Scheme, 2020   30/06/2020 31/12/2020  

 

Note:

as per CBDT Notification No.35/2020 the reduced rate of interest of 9% for delayed payment of taxes, levies, etc.,  shall not be applicable for the payments made after 30/06/2020.

https://myitronline.com/blog-post/iZU=/

https://www.incometaxindia.gov.in/communications/notification/notification_35_2020.pdf

 

UPLOAD FORM 16

https://www.myitronline.com/application-form16/

If you have any questions with filing your tax return, please reply to this mail.

info@myitronline.com OR call 9971055886.