Compliance Calendar Financial Year wise affected due to COVID-19

Compliance Calendar Financial Year wise affected due to COVID-19

FY 2018-19 –

INCOME TAX

🌹 For assesse who has not filled their return or audit for FY 2018-19 last date of filling extended to 30.06.2020.

FY 2019-20 –

INCOME TAX

🌹 The date for making various investment/payment for claiming deduction under Section 80C (LIC, PPF, NSC etc.), 80D (Mediclaim), 80G (Donations), etc. has been extended to 30.06.2020.

FY 2020-21 –

INCOME TAX

🌹07th May 2020- TDS/TCS payment for April 2020. (No Extension)

🌹30th June 2020- TDS return in form 24Q/26Q for fourth quarter ending on 31.03.2020 

🌹30th June 2020- TDS return in form 26QB/QC/QD for March and April 2020

🌹30th June 2020- Issue of form 16/16A for the forth quarter ending 31.03.2020

GST

🌹30th June 2020- Monthly GSTR-1 Sales Report for month of March, April, May 2020  

🌹30th June 2020- Quarterly GSTR-1 Sales Report for month of March 2020  

🌹24th June 2020- GSTR-3B for taxpayers having an aggregate turnover of more than rupees 5 crores in the preceding financial year for February, March, April 2020. 

[Interest rate- Nil for first 15 days from the original due date, and 9 per cent thereafter (this rate will be applicable only if filed before this date)]

🌹27th June 2020- GSTR-3B for taxpayers having an aggregate turnover of more than rupees 5 crores in the preceding financial year for May 2020.

🌹29th June 2020- GSTR-3B for taxpayers having an aggregate turnover of more than rupees 1.5 crores but less than 5 crores in the preceding financial year for February, March 2020.

🌹30th June 2020- GSTR-3B for taxpayers having an aggregate turnover of more than rupees 1.5 crores but less than 5 crores in the preceding financial year for April 2020.

🌹30th June 2020- GSTR-3B for taxpayers having an aggregate turnover of less than rupees 1.5 crores in the preceding financial year for February 2020.

🌹03rd July 2020- GSTR-3B for taxpayers having an aggregate turnover of less than rupees 1.5 crores in the preceding financial year for February 2020.

🌹06th July 2020- GSTR-3B for taxpayers having an aggregate turnover of less than rupees 1.5 crores in the preceding financial year for February 2020.

🌹12th July 2020- GSTR-3B for taxpayers having an aggregate turnover of less than rupees 5 crores in the preceding financial year for May 2020. 

🌹30th June 2020- GST CMP-02 Opt in for composition in FY 2020-21

(Normal Taxpayers wanting to opt for Composition should not file GSTR3B and GSTR 1 for any tax period of FY 2020-21 from any of the GSTIN on the associated PAN.)

ESI/PF

🌹15th May 2020- Due date for payment of Provident Fund, ESI contribution for employers who have paid wages to their employees for March 2020.

🌹15th May 2020- Due date for payment of Provident Fund, ESI contribution for employers who have paid wages to their employees for April 2020.

NOTE: 

1. Vivaad Se Vishwas Scheme extended to 30.06.2020 (without additional 10% of tax)

2. Interest rate at 9% for Late deposition of TDS till 30.06.2020

3. PAN Aadhar linking deadline now 30.06.2020

4. All notices / proceedings / filing dates till 31.03.2020 - gets extended to 30.06.2020

5. Companies with less than Rs. 5 Crores TO - no interest, penalty, late fees in GST. For companies above Rs. 5 Crores - only interest at 9% will be charged

6. Sabka Vikas scheme for Service Tax (Indirect Taxes) extended till 30.06.2020 - without any interest liability

7. Customs - 24x7 Clearance till 30.06.2020

8. MCA - moratorium from 01.04.20 to 30.09.20 - there shall be no additional fees for late filings.

9. Board meetings are relaxed for 60 days for next 2 quarters

10. Revised CARO to get applicable from FY 20-21 instead of FY 19-20

11. For newly incorporated companies - Commencement of business is to be filed within 6 months, which is now extended for another 6 months.

12. DIN holders tagged as ‘Deactivated’ have an extended time of up to 30th September 2020 for filing DIR-3KYC/DIR-3 KYC-Web, without fees of Rs 5,000. Companies marked as “ACTIVE non-compliant” have got extended time of up to 30th September 2020 to file eForm ACTIVE without fees of Rs 10,000.

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