Home > COVID-19 Tax Help Center > COVID-19: Due-date RelaxationLast Updated: Aug 14th 2020

COVID-19 : Due-date relaxation for Income Tax, GST, ROC

Indian FM announced economic stimulus plan, and relaxation of due dates due to the issues faced by the taxpayers & companies amid complete lockdown in India to control COVID-19 (Corona Virus). Covering various statutory, regulatory compliance such as Income Tax, GST, Corporate Affairs, Banking Charges, PM Cares Fund

Updates included
  1. May 13th 2020 : Updates from economic stimulus plan.
  2. Jun 12th 2020 : Updates from 40th GST Council meeting.
  3. Jun 24th 2020 : Extension of time limits under the Income-tax Act (Notification No.35 /2020)
  4. Jul 29th 2020 : Extension of time limits under the Income-tax Act (Notification No.56 /2020)

Income Tax

Applicable to Individuals and other than Individuals

  1. The due date for Filing Income Tax Return for FY 2018-19 is extended to 30th Jun 2020 31st Jul 2020 30th September 2020 from 31st Mar 2020
  2. The due date for Filing Income Tax Return for FY 2019-20 is extended to 30th Nov 2020 from 31st Jul 2020 *
  3. The due date for TDS, TCS Returns by deductor other than Govt. for Q4 FY 2019-20 is 30th Jun 2020 31st Jul 2020.

  4. The TDS rate on payments for contract, professional fee, rent, commission, dividend, brokerage etc shall be reduced by 25% of existing rates. Now this TDS rates reduction is further extended upto Nov 30th 2020.
  5. The due date for Linking PAN and Aadhar is extended to 30th Jun 2020 31st Mar 2021 from 31st Mar 2020
  6. The date for making investments & payments for claiming deduction under Section 80C (LIC, PPF, NSC etc.), 80D (Mediclaim), 80G (Donations), extended to Jun 30th 2020 31st July 2020 for FY 2019-20
  7. The date for making investments under Sec 54*, 54GB for claiming re-investment benefits, extended to 30th Sep 2020 for FY 2019-20
  8. All delayed payments of advance tax, self assessment tax, TDS, TCS, equalization levy, STT, CTT made between 20th Mar 2020 and 30th Jun 2020 31st Jul 2020 will be charged at reduced interest rate i.e., 9% p.a instead of 12% p.a
  9. Waiver of interest u/s 234A where self assessment tax is upto Rs 1 Lakh
  10. The due date for issue of notice, intimation, order, investment in tax saving instruments, investments for rollover benefit of capital gains under Income Tax has been extended to 30th Jun 2020 31st Jul 2020
  11. Due date for Form-16 generation has been extended to 15th Aug 2020 to give an opportunity for those employers who are unable to meet the timelines.
  IMPORTANT: If you have not filed your FY 2018-19 Income Tax Return, the extension given do not remove the interest on Tax Due. it was reduced from 12% to 9% but the interest have to be paid. If not filed already, eFile your return using EZTax.in through Self Service for Free or Select Assisted Tax Filing Service for EZTax.in Experts to take care of your eFiling.

PM Cares Fund

Applicable to Individuals and other than Individuals

  1. 100% deduction allowed on donations to the PM-CARES Fund (* later updated)
  2. The limit on deduction of 10% of gross income is not applicable for donations made to PM CARES Fund (* later updated)
Want to donate to PM-CARES Fund ?

1. Donate Online to through State Bank of India (Official Channel by Govt of India) PM Cares Fund to help combating COVID-19 (Corona Virus Pandemic)

2. Donate through your Bank Account More Information from PM India Government Site

GST

Per 40th GST Council meeting held on Jun 12th 2020... recommended to have a reduction in Late Fee for Past GST Returns and other measures to reduce the compliance burden

  1. Late fee & Interest waived off for NIL Returns for the period of July 2017 to Jan 2020 if filed between July 1 2020 to Sep 30 2020
  2. Max late fee capped @ Rs. 500/- per return if any tax liability for the period of July 2017 to Jan 2020 if filed between July 1 2020 to Sep 30 2020
  3. Late Fee & Interest are waived off for GSTR 3B Filing for the months of May, June, & July 2020 for the taxpayers having turnover up to Rs 5 Cr if filed before 30th Sep 2020
  4. Revocation of GST Cancellation can be done till 30th Sep 2020 for all registrations cancelled till 12th Jun 2020

Other relief given to all who registered under GST before May 30th from various meetings

  1. The due dates for filing Feb, March and April GST returns has been extended till the last week of 30/06/2020 for those whose turnover is below 5 Crores.
  2. Interest will be charged at reduced rate of 9% p.a instead of 18% p.a for the companies with turnover more than Rs 5 crores. No Late Fee and Penalty will be charged if complied before June 30th 2020
  3. The due date for filing Annual return for FY 2018-19 is extended to 30/09/2020 from 31/03/2020
  4. The due date for filing CMP 08 for Composition taxpayers has been extended to 07/07/2020 from 18/04/2020 for Jan to Mar 2020
  5. The due date for filing FY 2019-20 GSTR-4 for Composition taxpayers has been extended to 15/07/2020
  6. The due date for opting into composition scheme has been extended to 30/06/2020 from 31/03/2020

Ministry of Corporate Affairs

Applicable to Private Limited, OPC and LLP

  1. No additional fee shall be charged for late filing during a moratorium period (01/04/2020 to 30/09/2020) in respect of any document, return, statement etc required to be filed in MCA system irrespective of its due date
  2. Additional time of 6 more months given to newly incorporated companies for declaration of commencement of business in eform 20A. Now, it can be filed up to 1 year from the date of incorporation of company
  3. A company director who does not comply with minimum residency requirement of 182 days or more in India shall not be considered as violation
  4. Applicability of CARO-20 which was supposed to be effective from FY 2019-20 has been shifted to FY 2020-21.
  5. The mandatory requirement of holding Board meetings shall be extended by a period of 60 days till next 2 quarters i.e., till 30th September 2020
  6. Company and LLP Forms like Director KYC, DPT-3 (Annual Return), INC 22A, Form 11 etc can be filed upto 30th Sep 2020 without any Late Fee

Banking Laws

Applicable to all who has bank account

  1. Debit card holders can now withdraw cash from any bank without any additional charges for next 3 months.
  2. There will be a complete waiver of fees charged by the banks for not maintaining the minimum balance
  3. There will be reduction of bank charges for digital trade transactions for all trade finance consumers

Other Announcements

  1. Due Date for filing Employee Provident Fund (EPF) electronic challan cum return for the month of March is extended to 15/05/2020 from 15/04/2020
  2. Rs 3 lakh crores Collateral-Free Automatic Loans for Businesses, including MSMEs. To pay after 12 months of moratorium
  3. Pending refunds to co-operatives, charitable trusts, non-corporates will be processed immediately to relieve.
  4. Statutory PF Contribution by Employer and employee has been reduced to 10% from 12% for May, Jun, Jul 2020.
  5. The difference between Manufacturing and service sector is eliminated and the long-due new MSME definition is expected to be approved soon. Gives opportunity for certain MSMEs not to lose the benefits that they used to enojoy per old regime due to increase in the revenue / investment.
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