THINGS TO DO BEFORE 30TH JUNE 2020

Because of covid pandemic, government has extended various due dates of returns and compliances in many laws. I try to sum up all extended date up to 30 June 2020 of Income Tax and GST, so that it may not create any confusion related to the due dates.

I have distributed in two parts in a very simple manner.

A: INCOME TAX

File Belated or Revised Income Tax Return for Financial Year 2018-19

The Last date for Filing of ITR for FY 2018-19 was 31st March 2020. Due to Covid Pandemic, Govt. has extended the date to 30th June 2020. The belated or revised return for the Financial Year 2018-19 can be filed on or before 30.06.2020.

Link PAN with Aadhaar

The deadline to link PAN with Aadhaar has been extended to 30.06.2020. If you do not link PAN to Aadhaar, then your PAN will become inoperative.

TDS/TCS Statement for Q4 of 2019-20

As per Ordinance dated 31.03.2020, the due date of filing of TDS/TCS statement for 4^th quarter of previous year 2019-20 is extended to 30.06.2020.

Issue TDS/TCS Certificates

Issue TDS/TCS certificates for the tax deducted or collected during the 4^th quarter and for the tax deducted from salary in financial year 2019-20.

Investment to claim deduction for Financial Year 2019-20

To claim deduction in any year, it is necessary to invest in that year. Due to Covid Pandemic, Govt. has extended the date to 30.06.2020 to make investment for deduction under chapter VI-A and section 54 to section 54GB.

Interest rate rebate on Tax Amount

For delayed payments of advanced tax, self-assessment tax, regular tax, TDS, TCS, equalization levy, STT, CTT made between 20th March 2020 and 30th June 2020, the reduced interest rate at 9% per annum will be charged for this period. No late fee/penalty shall be charged for delay relating to this period.

B. Goods and Services Tax

Extension of Due Dates for compliance's

As per Notification No. 35/2020, all other compliance's viz. Appeal, Refund, statement, etc. under the provisions of the CGST Act which is falling during the period from 20.03.2020 to 29.06.2020 is extended to 30.06.2020.

Due Date for filing of GSTR-1 for taxpayers having aggregate turnover up to Rs. 1.5 Cr.

Quarter	Due Date	Extended Due Date of Filing Return
Jan - March 2020	30th April, 2020	30th June, 2020

Due Date for filing of GSTR-1 for taxpayers having aggregate turnover > Rs. 1.5 Cr.

Month	Due Date	Extended Due Date of Filing Return
March 2020	11th April, 2020	30th June, 2020
April 2020	11th May, 2020	30th June, 2020
May 2020	11th June, 2020	30th June, 2020

Due Date for filing of GSTR-3B for taxpayers having aggregate turnover up to Rs. 1.5 Cr.

Month	Extended Due Date of Filing Return
February 2020	30th June, 2020

 

Due Date for filing of GSTR-3B for taxpayers having aggregate turnover of > Rs. 1.5 Cr. & up to Rs. 5 Cr.

Month	Extended Due Date of Filing Return
February, 2020	29th June, 2020
March, 2020	29th June, 2020
April, 2020	30th June, 2020

Due Date for filing of GSTR-3B for taxpayers having aggregate turnover > Rs. 5 Cr.

Month	Extended Due Date of Filing Return
February, 2020	24th June, 2020
March, 2020	24th June, 2020
April, 2020	24th June, 2020
May, 2020	27th June, 2020

 

               Note:

1. The previous year turnover will be considered for aggregate turnover.
2. There will be no late fee for filing the return till the extended due date. After that date, late fee will be charged on filing of return as per GST law.

Taxpayers wanting to opt for Composition in Financial Year 2020-21

Due Date for filing GST CMP – 02, for Intimation in respect of opting to pay tax under composition scheme for the FY 2020-21 was extended to 30.06.2020.

Non Resident Tax Payers, ISD, TDS & TCS Taxpayers for the month from March 2020 to May 2020

Form	Extended Due Date of Filing Return
GSTR 5	30th June, 2020
GSTR 6	30th June, 2020
GSTR 7	30th June, 2020
GSTR 8	30th June, 2020

 

Updates due dates for filing of GST Returns

https://carahuldmittal.blogspot.com/2020/06/updated-due-dates-for-filing-gst-returns.html

Disclaimer:  This is meant purely for general education purpose.While the information is believed to be accurate to the best of my knowledge, I do not make any representations or warranties, express or implied, as to the accuracy or completeness of this information. Reader should conduct and rely upon their own examination and analysis and are advised to seek their own professional advice. This note is not an offer, invitation, advice or solicitation of any kind. I accept no responsibility for any errors it may contain, whether caused by negligence or otherwise or for any loss, howsoever caused or sustained, by the person who relies upon it.

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