The disruption caused by Covid-19 has compelled the Government to extend from time to time the due dates for various compliances. Advocate V. P. Gupta has methodically set out in a tabular format all the extended due dates. This will help avoid confusion and prevent unintended breaches of the law by taxpayers. The ld. author has also identified a few important issues which need the attention of CBDT and suggested the action required to be taken by it
On account of COVID-19 there was complete lockdown w.e.f. 25.03.2020 and all the offices etc. could not work. Therefore, an Ordinance dated 31.03.2020 called “The Taxation and Other Laws (Relaxation of Certain Provision) Ordinance, 2020” was promulgated providing that any action or compliance, due date for which was falling between 20.03.2020 to 29.06.2020, shall be extended to 30.06.2020 or any other date as may be further extended by the Central Government by way of notification. Thereafter, a notification dated 24.06.2020 was issued by the government further extending time limit for certain compliances under the Income Tax Act.A notification dated 29.07.2020 was also issued subsequently by the Central Government further extending time limit for filing return of income for A.Y.2019-20. In order to validate the Ordinance and above refereed notifications, a Bill called “The Taxation and Other Laws (Relaxation of Certain Provision) Bill, 2020” was introduced in the Parliament. The aforesaid Bill was duly passed by the Parliament and on receiving assent of the President of India on 29.09.2020 it became the Act. Thereafter, notification dated 30.09.2020 has also been issued by the Government further extending time limit for filing return of income of A.Y.2019-20.
As per above referred Ordinance / notifications and the validation Act, as a general rule all the due dates, which are falling during the period 20.03.2020 to 31.12.2020, have been extended to 31.03.2021. In respect of certain compliances extended due date, however, has been restricted to a date prior to 31.03.2021 as has been specifically provided in Validation Act. Now, the extended due dates for respective compliances under various provisions of IT Act are as under: –
|
Sl. No. |
Compliance / Action |
Due date as per Act |
Extended date |
Remarks |
| 1. |
Filing of IT Return: – For A.Y.2019-20
– For A.Y.2020-21:
|
31.03.2020
31.07.2020 31.10.2020 |
30.11.2020
30.11.2020 30.11.2020 |
Date was extended vide Ordinance dated 31.03.2020 to 30.06.2020. Vide notification dated 24.06.2020 it was extended till 31.07.2020. Subsequently, it was further extended to 30.09.2020. Now, it has further been extended to 30.11.2020 vide order of CBDT dated 29.09.2020. Due dates for all the categories of assesses was extended till 30.11.2020 vide notification dated 24.06.2020. Interest u/s 234A, however, is payable for the extend period in case tax payable as per return is more than Rs.1 lac. Interest u/s 234B will be also payable on the amount of short fall in payment of advance tax from 01.04.2020 to date of payment of tax. |
| 2. |
Furnishing of Reports:
|
30.09.2020
31.10.2020
30.09.2020 |
31.10.2020
No extension 31.10.2020 |
Audit reports under various provisions of Income Tax Act are required to be filed one month prior to the due date for filing return of income in case of the respective assesses. Vide notification dated 24.06.2020 due date for filing audit reports in the cases of all the assesses under all the provisions of IT Act was extended to 31.10.2020. |
| 3. |
Deposit of TDS / TCS for the month of:
|
07.04.2020 7th of the following month |
30.06.2020 No extension |
Due date for payment of TDS / TCS for the months March to May was extended upto 30.06.2020. Interest for the period of delay from the due date to the date of actual payment was, however, to be paid @ 0.75% per month. |
| 4. |
Filing of TDS and TCS Returns for the quarter ended:
|
31.05.2020
31.01.2021 30.05.2021 |
31.07.2020
No extension |
Due date for filing TDS / TCS returns for quarter / year ended 31.03.2020 was extended till 31.07.2020 and for quarter ended 30.06.2020 and 30.09.2020 due date is extended till 31.03.2021 vide notification dated 24.06.2020 and the validation Act. |
| 5. |
Furnishing of TDS/TCS Certificates for quarter / year ended:
|
15.06.2020
15.08.2020
15.02.2021
15.06.2021 |
15.08.2020
15.04.2021
No extension No extension |
Due date for issuing TDS / TCS certificates for quarter / year ended 31.03.2020 was extended till 15.08.2020. |
| 6. |
Investment for claiming exemption of capital gain:
|
20.03.2020 to 29.09.2020 |
30.09.2020 |
In order to claim exemption from capital gain an assessee is required to purchase / construct residential house or agricultural land or assets for shifting of industrial undertaking within the time limit provided in the relevant section. In the cases, where time limit was expiring between 20.03.2020 to 29.09.2020, investment could be made upto 30.09.2020. |
| 7. |
Investment in specified bonds:
|
20.03.2020 to 29.09.2020 |
30.09.2020 |
An assessee can make investment for claiming exemption from long term capital gain on transfer of land or building in specified bonds within a period of 6 months from the date of transfer. In the cases where period of 6 months was expiring between 20.03.2020 to 29.09.2020, investment could be made upto30.09.2020. |
| 8. |
Deposit in Capital Gain Account: AY 2020-21
|
31.07.2020 |
30.11.2020 |
In case capital gain / sale consideration, as the case may be,is not utilized for acquiring new asset before due date of filing the return of income, same is to be deposited in Capital Gain Account. Since the due date for filing return of income in all the cases has been extended to 30.11.2020 amount can be deposited till that date. |
| 9. |
Investments / payments made for claiming deduction
|
31.03.2020 31.03.2020 |
31.07.2020 31.07.2020 |
In order to claim deduction in return for A.Y.2020-21 deposits / Investments / payments had to be made by 31.03.2020. As a matter of relaxation, it has been provided that deposits / payments made till 31.07.2020 can be considered for claiming deduction in the aforesaid return, which is to be filed by 30.11.2020. |
| 10. |
Assessment under section 143(3) /144:
|
30.09.2020
31.03.2021 |
31.03.2021
No extension |
Assessment for A.Y.2018-19 as per Act was due for completion by 30.09.2020. Now date has been extended till 31.03.2021. Though there is no extension in date for completion of assessment till now, but same needs to be extended as notice u/s 143(2) of the Act in respect of returns filed before 31.03.2020 can be issued by 31.03.2021 and assessment can be made only thereafter. |
| 11. |
Passing of the draft order in the TP cases for:
|
31.12.2020 |
31.03.2021 |
In the cases where addition is proposed, draft order of assessment can be issued upto 31.03.2021. In other cases assessment order is to be passed by 31.03.2021 |
| 12. |
Passing of order by DRP u/s 144C for:
|
30.09.2020 |
31.03.2021 |
Time limit for issuing directions by DRP in respect of draft orders for A.Y.2016-17, for which objections would have been filed in January, 2020, has been extended upto31.03.2021. Assessment order as per directions of DRP is to be passed by AO by 30.04.2021 i.e. within one month after receiving directions. |
| 13. |
Issue of Notice u/s 143(2) for:- A.Y.2019-20:
A.Y.2020-21
|
30.09.2020
30.09.2021
30.09.2021 |
31.03.2021
No extension
No extension |
Time limit of 6 months from end of thefinancial year in respect of returns filed upto 31.03.2020 has been extended upto 31.03.2021. Time limit for issuing notices in respect of returns filed within the extended period i.e. upto 30.11.2020 will be30.09.2021. In view of extended time limit for issuing notices, time limit for completion of assessment for A.Y.2019-20, which is, 31.03.2021 needs to be extended beyond 30.09.2021. Assessment is to be completed by 31.03.2022
|
| 14. |
Issue of Notice u/s148:
|
31.03.2020 31.03.2020 |
31.03.2021 31.03.2021 |
Notice for re-assessment is to be issued within 4 or 6 years from end of relevant assessment year depending on certain conditions. In respect of A.Yrs.2013-14 and 2015-16, wherelimit was up to 31.03.2020, stands extended to 31.03.2021. |
| 15. |
Filing of Appeals before CIT(A) :
|
30 days from receipt of order i.e. before 20.03.2020 |
No extension
31.03.2021 |
In these cases time limit had expired before 20.03.2020 and therefore, appeals would have been filed before the aforesaid date. Hence, there was no relaxation in these cases.
In the cases, where time limit for filing appeal of 30 daysfrom receipt of order of assessment / penalty / rectification is expiring between 20.03.2020 to 31.12.2020, appeal before CIT(A) can be filed till 31.03.2021. It is however, advisable to file the same at the earliest, as appeal is to be filed on-line. |
| 16. |
Filing of appeals before ITAT:
|
60 days from receipt of order i.e. before 20.03.2020 |
No
31.03.2021 |
In these cases time limit had expired before 20.03.2020 and therefore, appeals would have been filed before the aforesaid date. Hence, there was no relaxation in these cases. In the cases, where time limit for filing appeal of 60 days from receipt of order of CIT(A)/CIT/DRP is expiring between 20.03.2020 to 31.12.2020, appeal before ITAT can be filed till 31.03.2021. It is however, advisable to file the same at the earliest. |
| 17. |
Filing of appeals before High Court:
|
120 days from receipt of order i.e. before 20.03.2020
|
No extension
31.03.2021 |
In these cases time limit had expired before 20.03.2020 and therefore, appeals would have been filed before the aforesaid date. Hence, there was no relaxation in these cases. In the cases, where time limit for filing appeal of 120 days from receipt of order ofITAT is expiring between 20.03.2020 to 31.12.2020, appeal before High Court can be filed till 31.03.2021. It is however, advisable to file the same at the earliest. |
| 18. |
Revision of order by CIT:
|
31.03.2020 |
31.03.2021 |
Time limit of two years from end of financial year for revision of order passed by AO during F.Y.2017-18 was expiring on 31.03.2020 and same has extended till 31.03.2021. |
| 19. |
Filing of application for rectification:
|
31.03.2020
Period of 6 month falling between 20.03.2020 to 31.12.2020 |
31.03.2021
31.03.2021 |
Time limit of four years from end of financial year for rectification of orders passed by AO / CIT(A) during F.Y.2015-16 was expiring on 31.03.2020 and same has extended till 31.03.2021.
In the cases, where time limit of 6 months from end of the month in which order is passed by ITAT for rectification of order,is falling between 20.02.2020 to 31.12.2020, same stands extended to 31.03.2021. |
| 20. |
Any other due date under the Act |
20.03.2020 to 31.12.2020 |
31.03.2021 |
As per the notifications and validation Act all the due dates falling between the period 20.03.2020 to 31.12.2020 stand extended to 31.03.2021. Accordingly, any other compliance under the Act either by the Assessee or by the Department can be made till 31.03.2021 |
| 21. |
Vivad Se Vishwas Scheme:
|
31.03.2020
After 31.03.2020 |
31.12.2020
After 31.12.2020
|
As per the scheme an assessee had to pay amount without additional amount upto 31.03.2020 and thereafter assessee had to pay the amount with additional amount. Date of 31.03.2020 has been substituted with 31.12.2020 vide Validation Act. Accordingly, an assessee can pay the amount under the Scheme without additional amount upto 31.12.2020. |
Suggestion for CBDT
The Government (CBDT) has been quite considerate in taking cognizance of the position arising out of Covid-19. Necessary notifications have been issued well before time extending the time lines for compliances. Same have provided great relief to assesses and tax practitioners. There are however, following issues which need further attention of CBDT and necessary action in respect thereof: –
- As per extended dates all audit reports, including tax audit report, are required to be filed by 31.10.2020 and returns of income are to be filed by 30.11.2020. Till now Covid position has not improved satisfactorily. Offices of assesses and of Chartered Accountants are not working regularly and to their full capacity. Therefore, it is not possible to prepare, finalise and file tax audit and other audit reports before 31.12.2020. Hence, it is necessary and desirable that due date for filing all audit report should be extended by 3 months i.e. till 31.01.2021. It may also be stated in this regard that vide Circular No.28/2020 dated 17.08.2020 Ministry of Corporate Affairs has clarified that concerned Registrar of Companies will grant extension upto 3 months i.e. upto 31.12.2020 for holding annual general meetings for approval of accounts for the year ended 31.03.2020. In case accounts are approved by 31.12.2020 it is not possible to file Tax Audit Report by 31.10.2020. Hence, extension upto 31.01.2021 is justified.
- Due date for filing return of income in the cases of all the assesses should be extended to 31.03.2021.
- Due date for completing the assessment by the department for A.Y.2019-20 at present, as per the law is 31.03.2021. There is no extension till date in this regard. Due date for issuing notices u/s 143(2) of the Act stands extended up to 31.03.2021 in respect of returns filed by 31.03.2020 and up to 30.09.2021 in respect of returns being filed during the current financial year. Therefore, due date for passing the assessment order needs to be extended till 31.03.2022.
- As per Vivad se Vishwas Scheme Designated Authority can issue the certificate determining the amount payable within 15 days from receipt of declaration filed by the assessee. As per Validation Act all due dates for compliance by the Authorities falling between 20.03.2020 to 31.12.2020 stands extended to 31.12.2020. Accordingly, Designated Authority can issue certificate in respect of all the applications received up to 16.12.2020 till 31.12.2020. In case certificate is issued by the DA on 31.12.2020, the assessee will not be able to make payment of amount without additional amount before 31.12.2020. Hence, date for making payment by the assessee without additional amount needs to be extended by 15.01.2021, allowing the assessee time of 15 days from receipt of the certificate issued by the Commissioner. Date till when the Scheme will remain in force also needs to be notified. It should be specified till when the assessee can file the declaration. Last date till when the payment can be made under the scheme should also be specified.
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Scruitny has been started under section 143(2) for AY 2019-20
Hi pawan
Which is the last date for issuing a notice for AY 2019-20 ?
Regards
Sameer
what is last date for issue of Notice for AY19-20 and AY20-21 under section 143(1), 143(2), 143(3) and 148
My old house was sold in 24th May 2018 and I booked a new flat but construction is not completed within 3 yes due to lockdown period at this situation how much gress period will I get to avoid capital gain tax
Under the provision of utilisation of LTCG , Time limit to complete Contruction of House is from 7/3/2018 to 7/3/2021 ie 3 years . However due to Pandemic situation work was closed for almost 6 Months. So can we get extension of time limit to complete House for Minnesota 6 Months ie upto 7/9/2021..pl guide
Sir,
My Taxble income after all deductions for
the financial year 2019-20 is = 5,59000/-
But exemption under Sec 80C is 60,000/-
ITR filing deadline is 31.12.2020.I have seen that if the income is below 5,00,000 no tax.
But due to lack of knowledge I have not paid additional amount under Sec 80c before march. Can I pay now.(ie Before 31.12.2020) to get the benefit of income below Rs 5,00,000/-. Please Advise me.
N Krishna Chaitanya
DEAR SIR
AN EXHAUST INFORMATIVE ARTICLE TAKING LOT EFFORT
THANKS AND CONGRATS
IT IS TRUE THAT DATES SHOULD BE EXTENDED FOR ITR AND TAX AUDIT FOR THE SAKE OF TAX PAYERS AND PROFESSIONALS
AS SOON AS POSSIBLE
WHY SO GOOD AND HELPFUL FM AND PM TAKING TIME
ANYWAYS THANKS AGAIN
DEAR SIR
AN EXHAUST INFORMATIVE ARTICLE TAKING LOT EFFORT
THANKS AND CONGRATS
IT IS TRUE THAT DATES SHOULD BE EXTENDED FOR ITR AND TAX AUDIT FOR THE SAKE OF TAX PAYERS AND PROFESSIONALS
AS SOON AS POSSIBLE
WHY SO GOOD AND HELPFUL FM AND PM T THANKS AGAINEAM TAKING TIME
ANYWAYS
Very elaborate and useful article/table.
Suggestions are perfect and practical.
Thanks a lot for the same.
correct sir the due date should be extended at least three to four months due to COVID19
CORRECT SIR