Extension of time limits under the Income-tax Act, 1961 and related Acts

Last updated: 25 June 2020

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The Central Government has extended various time limits for actions under the Income-tax Act, 1961, and other related laws. These extensions are part of the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020. Specific new deadlines have been set for furnishing tax returns, delivering tax deduction statements, and other compliance actions, with some deadlines extended to July, August, October, November 2020, and March 2021.

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 24th June, 2020 TAXATION AND OTHER LAWS S.O. 2033(E). In exercise of the powers conferred by sub-section (1) of section 3 of the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 (2 of 2020) (hereinafter referred to as the Ordinance), the Central Government hereby specifies , for the purposes of the said sub-section (1),- (i) the 31st day of D

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FAQ :

The notification extends various time limits for completing or complying with actions under the Income-tax Act, 1961, and related laws, due to the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020.

For the assessment year starting 1st April 2019, the deadline is extended to 31st July 2020. For the assessment year starting 1st April 2020, the deadline is extended to 30th November 2020.

For statements related to February or March 2020, or the quarter ending 31st March 2020, the deadline is extended to 15th July 2020 for sub-section (2A) of section 200 or sub-section (3A) of section 206C, and to 31st July 2020 for sub-section (3) of section 200 or the proviso to sub-section (3) of section 206C.

Yes, for the assessment year commencing on 1st April 2020, the deadline for furnishing audit reports has been extended to 31st October 2020.

No, the extension for furnishing tax returns for the assessment year starting 1st April 2020 does not apply if the tax on total income exceeds one lakh rupees after certain deductions.

The period for completion or compliance ends on 30th December 2020, and the extended deadline for such actions is 31st December 2020.