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Extension of compliance deadlines till 31st March, 2021

On 31.03.2020, the President proclaimed the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 in the wake of COVID-19 pandemic. To regularize, ordinance has now become an Act, to defer compliance deadlines for certain provisions which falls between the period 20.03.2020 to 31.12.2020 under “THE TAXATION AND OTHER LAWS (RELAXATION AND AMENDMENT OF CERTAIN PROVISIONS) ACT, 2020”

The extension of various time limits is summarized in the following table:

S.No.ParticularsOriginal due dateExtended due date
1 Completion of any proceeding or passing of any order or issuance of any notice, intimation, notification, sanction or approval, or such other action for period 20.03.2020 to 31.12.2020Various Dates31.03.2021
2Filing of any appeal, reply or application or furnishing of any report, document, return or statement or such other record for period 20.03.2020 to 31.12.2020Various Dates31.03.2021
3Making of investment, deposit, payment, acquisition, purchase, construction, etc., to claim any deduction or exemption under the provisions of sections 54 to 54GB & Chapter VI-A for AY 2019-20.31.03.202029.09.2021
4Beginning of manufacture or production of articles to claim exemption u/s 10AA (in a case where the letter of approval has been issued on or before 31.03.2020)31.03.202031.03.2021
5Income Tax return for A.Y. 2019-20*31.03.202030.11.2020
6Income Tax return for A.Y. 2020-21 (Non-TP Cases)31.10.202030.11.2020
7Income Tax return for A.Y. 2020-21 (TP Cases)30.11.202030.11.2020
8Tax Audit Report for A.Y. 2020-21 (Non-TP Cases)30.09.202031.10.2020
9Tax Audit Report for A.Y. 2020-21 (TP Cases)31.10.202031.10.2020
10TDS return for Q1 & Q2 of FY 2020-2131.07.2020&31.10.202031.03.2021
11Time limit for Compliance of any Provisions under ‘Vivad-se-Vishwas’ Scheme.31.03.202031.12.2020

*As further extended by CBDT order u/s 119(2a) dated 30.09.2020

Further,

  • To regularize, TDS and TCS rates slashing by 25% for period 14.05.2020 to 31.03.2021, a new section197B has been inserted.
  • Various sections for faceless collection of information, faceless assessment, faceless inquiry or valuation, faceless re-assessment and faceless appeals have been inserted, to enable the regularization of scheme launched by Honorable Prime Minister via Video conferencing.
  • New rules for furnishing of statement for tracking of donations, contributions received by approved funds deferred by 31.03.2021 and accordingly shall apply w.e.f 01.04.2021.
  • Amended provision for e-registration of trusts u/s 12AB has been deferred and accordingly shall apply w.e.f 01.04.2021.

Anjali Tariyal,
Associate Direct Taxation,
SW India

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