Direct Tax Announcements and Impact

Extension in Due Dates

Compliance PeriodComplianceCurrent Date/RateExtension Date/New Rate
FY 2018 -19Last Date of  IT Filing Return (For delayed Tax Payments, Interest Rate reduced from 12% to 9%)31st March 202030th June 2020
FY 2019-20Interest on Delayed TDS Deposit, Advance Tax, Self- Assessment Tax, TDS, TCS , Equalisation Levy , made between 20th March 2020 – 30th June 202012% / 18%9%
FY 2019-20All Compliances under Income Tax Act,  Wealth Tax / Black Money Act / STT Law /CTT Law/ Equalisation Levy LawVarious dates between 20th March 2020 to 29th June 202030th June 2020
FY 2019-20Due date for making investments/ payments for claiming deduction under chapter VIA of the Act (Section 80C to 80U) and section 54 to 54GB31st March 202030th June 2020
Not AY specificAadhar – PAN Linking31st March 202030th June 2020
Not AY specificAll notices, appeal, applications, Return, ReportVarious dates between 20th March 2020 to 29th June 202030th June 2020
Vivad se Viswas SchemeVivad se Vishwas Scheme (No Additional fee of 10 % will be levied till 30th June 2020)31st March 2020 (30th June 2020 with additional tax of 10%)30th June 2020 (Without any additional tax payment)



Contribution to PM Cares

  • Due to the current situation in relation to the Covid 19 pandemic a special fund has been set up to deal with the relief measures known as “PM CARES FUND”
  • Any donation to such fund shall be eligible for 100% deduction without any limit under section 80G of the Act
  • Donations made to such fund upto 30th June 2020 shall also be eligible for deduction in AY 2019-20
  • Corporates opting for the concessional tax regime for AY 2021-22 (FY 2020-21) can make donations to such fund upto 30th June 2020 and are eligible for deduction under section 80G for AY 2020-21 (FY 2019-20) and can also opt for the concessional tax regime for AY 2021-22 (AY 2020-21)

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