Due date for filing equalisation levy statement is 30th June 2019

Dear Sir / Madam,

We would like to bring to your kind notice that the due date to file Form-1 i.e., furnishing of equalisation levy statement for the transactions during financial year 2018-19 is June 30th 2019 (Sec 167 of Finance Act, 2016).

Applicability:

Filing of the statement is applicable only for those companies which have withheld tax @6% from payment to non-resident as Equalisation Levy for specified services i.e., Online advertisement and any provision for digital advertising space or facilities/ service for the purpose of online advertisement and discharged the same by paying to government authorities through challan No. / ITNS 285.

Penalty for failure to furnish statement of equalisation Levy (Sec – 172):

Every assessee who fails to furnish the equalisation levy statement, within the time period i.e., 30th June 2019, shall be liable to a penalty of Rs. 100/- per day during which such failure continues.

Please take note of the same and ensure the filing of equalisation levy statement within due date to avoid penal provisions.

Kindly go through and let us know for any clarifications/ help in this regard.

 

Vishnu Daya Tax Alert
Vishnu Daya & Co LLP
Chartered Accountants,
GF 7 & 3rd Floor, Karuna Complex, No. 337, Sampige Road,
Malleswaram,Bangalore-560003.
Office: +91-80-23312779 | +91-80-23560633
Fax: +91-80-23313725
Website: www.vishnudaya.com