06 July

Sticky

Extension of due date for filing of Income Tax return for FY 2019-20 & Implications

The Government, on May 13, 2020 announced the extension of income tax return (ITR) filing deadline for FY 2019-20 to November 30, 2020 in all the cases. This has been notified now vide Notification 35/ 2020 dated 24th June, 2020. In this regard, we wish to bring to bring to your kind attention the possible impacts of the extended due dates on the tax liability and the interest obligations. ...

29 June

0 Comments

Sticky

Important Due Dates of Tax Compliances for June 2020

Posted by Vishnu Daya

in NewsletterAlerts

Due to Covid-19 pandemic, Government of India has announced various relief measures in the statutory/regulatory compliances for businesses/ individuals. The ordinance passed on 31st March, 2020 provides the extension of various time limits under the Taxation and Benami Acts. It also provides for extension of time limits contained in the Rules or Notification which are prescribed/issued under these Acts. We try to sum up all the due dates of Direct & Indirect taxes which are to be adhered by 30th June 2020 in this newsletter. We hope that this will help you in meeting the statutory compliances on time and...

28 June

0 Comments

Sticky

Due date for filing FLA Return is 15th July 2020

Posted by Vishnu Daya

in NewsletterAlerts

The due date for filing annual return of Foreign Assets and Liabilities ( FLA) by every Indian Resident Companies and LLPs for whom it is applicable for the FY 2019-2020 is 15th July 2020...

26 June

0 Comments

Sticky

Extension of various time limits under Direct Tax & Benami laws

Posted by Vishnu Daya

in NewsletterAlerts

In view of the challenges faced by taxpayers in meeting the statutory and regulatory compliance requirements across sectors due to the outbreak of Novel Corona Virus (COVID-19), the Government brought the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 on 31st March, 2020 which, inter alia, extended various time limits. In order to provide further relief to the taxpayers for making various compliances, the Central Board of Direct Taxes (CBDT) has issued Notification 35/ 2020 dated 24th June, 2020 extending various time limits under Direct Tax & Benami laws. ...

26 June

0 Comments

Sticky

Extension of various time limits – Direct Tax

Posted by Vishnu Daya

in NewsletterAlerts

26 June

0 Comments

Sticky

Extension of various time limits under Direct Tax & Benami laws

Posted by Vishnu Daya

in NewsletterAlerts

26 June

0 Comments

Sticky

Extension of various time limits under Direct Tax & Benami laws

Posted by Vishnu Daya

in NewsletterAlerts

22 June

0 Comments

Sticky

PAN to become inoperative on failure to link with Aadhaar: Rule 114AAA

Posted by Vishnu Daya

in NewsletterAlerts

The CBDT has notified new Rule 114AAA to provide that the PAN of a person shall become inoperative if he fails to intimate his Aadhaar number u/s 139AA(2) by 31st March, 2020. However, where such person intimates his Aadhaar number after March 31st 2020, his PAN shall become operative again from the date of intimation of Aadhaar number. Further the Government has extended the said deadline of 31st March 2020 to 30th June 2020 for linking Aadhar with PAN. Hence it is to be noted that through this new Rule 114AAA the PAN of the individuals who are required to quote...

16 June

0 Comments

Sticky

RoDTEP Scheme – Remission of Duties or Taxes on Export Product (RoDTEP)

Posted by Vishnu Daya

in NewsletterAlerts

The Government of India (GoI) has introduced Remission of Duties or Taxes on Export Product (RoDTEP) scheme to replace the existing Merchandise Exports from India Scheme (MEIS) and create a fully automated route for Input Tax Credit (ITC) in the GST to help increase the exports in India. ...

09 June

0 Comments

Sticky

Due Date for payment of advance tax is 15th June 2020

Posted by Vishnu Daya

in NewsletterAlerts

This is to bring to your kind attention that the due date for payment of first installment of advance tax (15%) for the financial year 2020-21 is 15.06.2020. Kindly take necessary actions to make the payment within the due date. It is to be noted that though Government of India has announced series of relief measures due to COVID- 19, there is no change in timeline for payment of tax. However, reduced interest rate 0.75% per month or part thereof would be applicable for delay in deposit of tax (instead of 1%) per month or part thereof for payment of taxes...

Recent Posts

A Brief about us

Quick Connect

Vishnu Daya & Co LLP

Recent Posts

Author: Vishnu Daya

A Brief about us

Quick Connect

Vishnu Daya & Co LLP