Due Date Extension Under Income Tax and Benami Law

In the wake of the COVID-19 pandemic, the Ministry of Finance announced relief measures to help taxpayers comply with statutory and regulatory requirements. Notification No. 35/2020, dated 24th June 2020, provides various extensions under the Income Tax and Benami Law. This article details the key extensions granted.

Extensions for Filing Income Tax Returns and Audit Reports

Particulars	Extended Due Date
Filing of the original income tax return for FY 2018-2019 (AY 2019-2020).	31st July 2020
Filing of revised income tax return for FY 2018-2019 (AY 2019-2020).	31st July 2020
Due date for income tax return for FY 2019-2020 (AY 2020-2021).	30th November 2020
Deadline for furnishing the tax audit report for FY 2019-2020 (AY 2020-2021).	31st October 2020

For further insights into tax extension deadlines, refer to this guide on income tax due date extensions.

Extensions Related to Payment of Self-Assessment Tax

The due date for paying self-assessment tax is extended to 30th November 2020 for taxpayers whose liability is up to INR 1 Lakh. This extension aims to ease tax payment burdens during the pandemic.

Extensions for Investments and Deductions

Particulars	Extended Due Date
Investments/payments for deductions under Chapter VIA-B (Sections 80C, 80D, 80G, etc.) for FY 2019-2020.	31st July 2020
Investments in capital gains under Sections 54-54GB.	30th September 2020
Commencement of operations for SEZ units for deductions under Section 10AA (for units approved by 31st March 2020).	30th September 2020

For more details, visit our page on various due date extensions.

Extensions for TDS and TCS

The deadline for furnishing TDS and TCS statements for FY 2019-2020 is extended to 31st July 2020.
The issuance of TDS and TCS certificates for the 4th Quarter of FY 2019-2020 is extended to 15th August 2020.

To explore extensions related to other compliance reports, click here for cost audit report extensions.

Miscellaneous Extensions

Notices, orders, and compliance under Direct Taxes and Benami Law due by 31st December 2020 are extended to 31st March 2021.
Aadhaar-PAN linking has been extended to 31st March 2021.
The ‘Vivad Se Vishwas’ Scheme deadline is extended to 31st December 2020.
The new process for approval/registration of certain entities under Sections 10(23C), 12AA, 35, and 80G is postponed to 1st October 2020.

For additional information about compliance and filing extensions under different laws, you may check our page on company annual return extensions.

Note that the reduced interest rate of 9% for delayed payments of taxes does not apply after 30th June 2020.

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Frequently Asked Questions

Common questions about Due Date Extension Under Income Tax and Benami Law India.

The extended due date for filing original income tax returns for the financial year 2018-2019 (assessment year 2019-2020) is 31st July 2020. This extension has been provided to facilitate taxpayers in meeting statutory compliance requirements during the COVID-19 pandemic.

Yes, you can file a revised income tax return for the financial year 2018-2019 (assessment year 2019-2020) by the extended due date of 31st July 2020. The government has provided this extension to allow taxpayers sufficient time to revise their returns, if needed.

The extended due date for furnishing tax audit reports for the financial year 2019-2020 (assessment year 2020-2021) is 31st October 2020. This extension aims to provide relief to taxpayers and professionals in meeting compliance requirements during the COVID-19 pandemic.

Yes, the due date for payment of self-assessment tax has been extended till 30th November 2020, but only if the taxpayer's self-assessment tax liability is up to INR 1 Lakh. This extension provides relief to taxpayers with lower tax liabilities during the pandemic.

The extended due date for making investments or payments to claim deductions under Chapter VI-A of the Income Tax Act (such as sections 80C, 80D, and 80G) for the financial year 2019-2020 is 31st July 2020.

Yes, the due date for commencement of operations for Special Economic Zone (SEZ) units, which have received approval by 31st March 2020, has been extended till 30th September 2020. This extension allows these units to claim deductions under section 10AA of the Income Tax Act.

The extended due date for furnishing TDS and TCS statements for the financial year 2019-2020 is 31st July 2020. This extension provides relief to deductors and collectors in meeting compliance requirements during the pandemic.

Yes, the due date for linking Aadhaar with PAN has been extended till 31st March 2021. This extension provides additional time for individuals to complete the linking process during the pandemic.

The due date for furnishing declarations, passing orders, etc., under the 'Vivad Se Vishwas' Scheme has been extended till 31st December 2020. This extension allows taxpayers and authorities more time to comply with the requirements of the scheme during the pandemic.

Yes, the date of implementation of the new procedure for approval or registration or notification of certain entities under sections 10(23C), 12AA, 35, and 80G of the Income Tax Act has been postponed to 1st October 2020. This postponement provides additional time for entities to comply with the new procedure during the pandemic.