AKGVG Tax Updates

Dear Reader,
Greetings from AKGVG & Associates!!
In order to provide further relief to the taxpayers for making various compliances, the Government has issued a Notification on 25th June, 2020, the salient features of which are as under:
Date: 25.06.2020
S. No. Description Extended date
1. Time for filing of original as well as revised income-tax returns for the FY 2018-19 (AY 2019-20) 31.07.2020
2. Due date for income tax return for the FY 2019-20 (AY 2020-21) 30.11.2020
3. Date for furnishing tax audit report 31.10.2020
4. Date for payment of self-assessment tax in the case of a taxpayer whose self-assessment tax liability is upto Rs. 1 lakh 30.11.2020

Date for making various investment/ payment for claiming deduction under Chapter-VIA-B of the IT Act which includes section 80C (LIC, PPF, NSC etc.), 80D (Mediclaim), 80G (Donations) etc.

6. Date for making investment/ construction/ purchase for claiming roll over benefit/ deduction in respect of capital gains under sections 54 to 54GB of the IT Act 30.09.2020
7. Commencement of operation for the SEZ units for claiming deduction under section 10AA of the IT Act. (Necessary approval to be obtained by 31.03.2020.) 30.09.2020
8. TDS/ TCS statements and issuance of TDS/ TCS certificates pertaining to the FY 2019-20 31.07.2020 and 15.08.2020 respectively
9 Date for passing of order or issuance of notice by the authorities and various compliances under various Direct Taxes & Benami Law which are required to be passed/ issued/ made by 31.12.2020 31.03.2021
10. Linking of Aadhaar with PAN 31.03.2021



  1. The reduced rate of interest of 9% for delayed payments of taxes, levies etc. specified in the Ordinance shall not be applicable for the payments made after 30th June, 2020.
  2. Date of declaration, passing of order under Vivad Se Vishwas” Scheme stands extended to 31.12.2020.
  3. The stated notification shall come into force from the 30.06.2020.
We trust you will find this Journal informative as well as useful.
For any queries, you can write to us at "info@akgvg.com".
Looking forward to receive your valuable feedback

Disclaimer: This insight is meant for informational purpose only and should not be considered as an advice or opinion, or otherwise, whatsoever. AKGVG & Associates does not intend to advertise its services through this insight. AKGVG & Associates is not responsible for any error or omission in this insight or for any action taken based on its contents.

Best Regards!
Knowledge Updates Team
AKGVG & Associates
(Chartered Accountants)

Tel: +91 9811118031, 9818330516,
Telefax:+91 11 49037920
Website: https://www.akgvg.com