Circular On Income Tax and GST Returns

To provide relief to taxpayers amid the ongoing COVID-19 crisis, the Income Tax department and CBIC have further provided various relief for return filing by extending dates and waiver of penalties  and  extended the deadline for tax saving investments/payments for the financial year 2019-20 up to July 31.

  • Income Tax-Filing of Revised IT return for the AY 19-20 = 31-Jul-2020
  • Income Tax-Filing of Original IT return for the AY 20-21 = 30-Nov-2020
  • Income Tax-(Audit case / Non-audit case/Company/Partner in firm liable for audit/ 92E) In the case of assessees having self-assessment tax liability exceeding 1 lakh, due date for interest u/s 234A (i.e., 31-Jul-2020 or 31-Oct-2020) has not been extended.
  • Income Tax-Filing of any Audit Report for the AY 20-21 = 31-Oct-2020
  • Income Tax-Form 24Q, 26Q, 27Q & 27EQ of Quarter 4 of FY 19-20 31-Jul-2020
  • Income Tax-Form 24Q, 26Q, 27Q & 27EQ of Quarter 1 & 2 of FY 20-21 31-Mar-2021
  • Income Tax-Issue of TDS/TCS Certificates for FY 19-20 15-Aug-2020
  • Income Tax-Linking of Aadhaar number and PAN 31-Mar-2021
  • Income Tax-For making Investments/ purchase / completing construction for claiming deduction u/s 54 to 54GB from capital gains arising during FY 19-20. 30-Sep-2020
  • Income Tax-For investments or payments under Part B of Chapter VIA (80C to 80GGC) for the FY 2019-2020 = 31-Jul-2020
  • GST-There is a relief for GST late return filing also. Govt has decided to cap the maximum  late fee for the Form GSTR-3B at Rs 500/- per return for the tax period July 2017 to July 2020 subject to the condition that such GSTR-3B returns being filed before 30-Sept-2020
  • GST-Nil late fees if there is no tax liability.


Source: Income Tax India, CBIC