ITR & Tax Audit Due date for FY 2019-20 extended

• The due date of Income tax return (ITR) for FY 2019-20 has be extended from 31st July, 2020 and 31st October, 2020 to 30th November, 2020.
• ?
• Similarly Tax audit due dates have been extended from 30th September, 2020 to 31st October, 2020.

This was announced by the FM today.

• CBDT deffer GST and GAAR reporting in tax audit by one year
• Income Tax Circular No. 10/2020
• Order under section 119 of the Income-tax Act, 1961

1. Section 44AB of the Income-tax Act, 1961
   

We all wish, TDS, TCS last dates should also have been extended.
However, probably, Govt also needs money to fight the Covid19. 🦠🦠🦠

So, in that background please read the message below
🙏
For TDS/TCS Payment.
👇👇
Due Date of TCS Pymt for March :7th April 2020.
Due Date of TDS Pymt for March :30th April 2020.
Last date is not extended.

Case 1️⃣
please pay, if you can
(MLG recommends this as well, at least on your best estimates)… if short, you pay balance later, and if excess, you can claim that in FY 20-21 returns easily, with no problem at all.

Case 2️⃣
If you cannot pay due to any reason. Govt has given a Grand 50% Corona Discount.
And 👉 Interest will be charged at only @ 0.75% pm instead of 1.50% pm in normal cases, (for payments upto 30th June 2020).

😊
Adding smiles…. even at the time of Covid19.

MLG Team
Always at your service

🌹🌹🌹🚩