Income Tax
- The due date for filing Income Tax Return for Financial Year 2018-19 is revised to 30th Jun 2020 from 31st Mar 2020.
- The due date for filing Income Tax Return for Financial Year 2019-20 is revised to 30th Nov 2020 from 31st Jul 2020 *.
- The TDS rate on installments for contract, proficient charge, lease, Commission, profit, financier, and so on will be decreased by 25% of existing rates *.
- The due date for Linking PAN and Aadhar is also revised which is 30th Jun 2020 from 31st Mar 2020.
- The date for making investment and installments for asserting finding under Section 80C (LIC, PPF, NSC and so on.), 80D (Mediclaim), 80G (Donations), revised to June 30th, 2020 for FINANCIAL YEAR 2019-20.
- The payments that are delayed due to Advance Duty, Self Evaluation tax, TDS, TCS, balance demand, STT, CTT made between 20/03/2020, and 30/06/2020 will be charged at reduced rate i.e., 9% p.a. rather than 12% p.a.
- The due date for issue of notice, suggestion, request, interest in charge sparing instruments, speculations for rollover advantage of capital increases under Income Tax has been reached out to 30/06/2020.
GST
- The due dates for filing Feb, March, and April GST returns have been revised till the most recent seven day stretch of 30/06/2020 for those whose turnover is underneath 5 Crores.
- No* intrigue or interest, Late expense, and punishment will be accuses for the organizations of turnover not as much as Rs 5 crores for the above period.
- Interest will be charged at a decreased pace of 9% p.a rather than 18% p.a for the organizations with turnover more than Rs 5 crores. No Late Fee and Penalty will be charged whenever went along before June 30th, 2020.
- The due date for documenting the Annual return for FINANCIAL YEAR 2018-19 is revised to 30/06/2020 from 31/03/2020.
- The due date for documenting CMP 08 for Composition citizens has been revised to 30/06/2020 from 18/04/2020.
- The due date for selecting into structure conspire has been reached out to 30/06/2020 from 31/03/2020.
- If you have not recorded your FINANCIAL YEAR 2018-19 Income Tax Return, the augmentation given doesn’t evacuate the enthusiasm on Tax Due. it was reduced from 12% to 9% however the intrigue must be paid.
- If not recorded as of now, eFile your arrival utilizing Trutax.in through Self Service for Free or Select Assisted Tax Filing Service for Trutax.in Experts to deal with your eFiling.
