The Government has earlier issued Taxation and other Laws (Relaxation of Certain Provisions) Ordinance, 2020 to provide relief from various direct tax compliances during the COVID-19 pandemic crisis.
In order to provide further relief to the taxpayers in this COVID-19 crisis, the Ministry of Finance has further extended various time limits for compliance under The Income Tax Act, 1961 and other laws. The Ministry has issued Notification No. 35/2020 dated 24th June 2020 in this regard:
The following table summarizes all the extension given in the said notification.
|Sl. No.||Particulars||Extended due date|
|1||Due date for linking of Aadhaar-PAN||31st March 2020|
|2||Last date for furnishing of Original/Revised Income tax Return for the FY 2018-19(AY 2019-20)||31st July 2020|
|3||Due date for furnishing of Income Tax Return for the FY 2019-20(AY 2020-21) whose original dates fall on 31st July 2020 and 31st October 2020||30th November 2020|
|4||Due date for furnishing of Tax Audit for the FY 2019-20(AY 2020-21) whose original dates fall on 30th September 2020||31st October 2020|
|5||Due date for furnishing of TDS/TCS statement for the Quarter ending March 2020 for FY 2019-20||31st July 2020|
|6||Due date for furnishing of TDS/TCS statements for Quarter ending March 2020 for FY 2019-20||15th August 2020|
|7||Last date for making various investment/payment for claiming deduction under Chapter-VIA-B of the Income Tax Act, 1961 which includes section 80C (LIC, PPF, NSC etc.), 80D (Mediclaim), 80G (Donations) etc for the FY 2019-20||31st July 2020|
|8||Extension of date for making payment without additional amount under the “Vivad Se Vishwas” Scheme||31st December 2020|
|9||Last date for making investments/construction/purchase for claiming roll over benefit/deduction in respect of Section 54 to 54GB of the Income Tax Act, 1961||30th September 2020|
In case of delayed payments of taxes, levies etc. payment to be made by 30th June 2020 to avail the reduced rate of interest benefit given by Ordinance issued earlier.
In case of taxpayers whose self assessment tax to be paid for FY 2019-20 is upto Rs. 1 Lakh, the due date for payment of self-assessment tax has also been extended to 30th November, 2020.
However, there will be no extension for the taxpayers having whose self-assessment tax liability exceeds Rs. 1 lakh.