Quick referance to Income Tax compliance reliefs amid COVID-19

Quick referance to Income Tax compliance reliefs amid COVID-19

1. Belated Income Tax return u/s 139(4) for AY 2019-20 can now be furnished up to 30.6.2020, with late of u/s 234F.

{See expression “furnishing of any return” in section 3(1)(b) of the Ordinance}

2. Revised Income Tax return u/s 139(5) for AY 2019-20 can now be furnished up to 30.6.2020.

{See word “furnishing of any return” in section 3(1)(b) of the Ordinance)

3. TDS “statement” u/s 200(3) r/w rule 31A in Form 24Q and 26Q and 27Q for the 4th Quarter of FY 2019-20, which is otherwise due on 31.5.2020, can now filed up to 30.6.2020.

{See word “furnishing of any statement” in section 3(1)(b) of the Ordinance)

4. TCS “statement” u/s 206C(3) r/w rule 31AA in Form 27EQ for the 4th Quarter of FY 2019-20, which is otherwise due on 15.5.2020, can now filed up to 30.6.2020.

{See word “furnishing of any statement” in section 3(1)(b) of the Ordinance)

Quick referance to Income Tax compliance reliefs amid COVID-19

Note:

{Please also refer to long lines of main provisions of section 3(1) of the Ordinance, according to which where, any time line has been –

• specified in, or
• prescribed under, or
• notified under

the specified Act which fall during the period from 20.3.2020 to 29.6.2020}

{The time line of returns are specified in the Act}

{The time line of the TDS / TCS statements are prescribed under the Act in Rules 31A and 31AA respectively} {For “prescribed” see : Section 2(33)}

This article has been authored by By CA. Rajiv Kumar Jain. He can be contacted at 9810288997.

Here is the link of video on Webinar on Interpretation of Relief Ordinance, 2020 dated 31 03 2020:

Tags: Income Tax, TDS

The post Quick referance to Income Tax compliance reliefs amid COVID-19 appeared first on Studycafe.

from Studycafe https://ift.tt/39Zb9ZQ