Income Tax Compliance Calendar May 2020 – Due Dates for Income Tax Filing

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  • Last Updated on 8 April, 2021

Income Tax Compliance Calendar for May 2020

 

Act

Nature of Compliance

Original Due Date

Extended Due Date

Income-Tax

 

Tax deducted (under any provision except sections 194-IA, 194-IB and 194M)/collected at source (during April 2020) to be deposited (Challan No. ITNS 281)

 

7th May 2020

7th May 2020**

 

Act

Nature of Compliance

Original Due Date

Extended Due Date

Income-Tax

 

Quarterly statement of TCS in respect of tax collected for the quarter ending 31st March, 2020: (Form No. 27EQ

 

 

15th May 2020

 

 

30th June 2020*

 

Due date for issue of TDS Certificate for tax deducted under section 194IA/194-IB/194M in the month of March, 2020

 

 

Due date for furnishing of Form 24G by an office of the Government where TDS/TCS for the month of April, 2020 has been paid without the production of a challan.

 

 

Act

Nature of Compliance

Original Due Date

Extended Due Date

Income-Tax

 

Tax deducted at source under sections 194-IA, 194-IB and 194M (during April 2020) to be deposited (challan for tax deducted under section 194-IA: Form No. 26QB, challan for tax deducted under section 194-IB : Form No. 26QC, challan for tax deducted under section 194M : Form No. 26QD)

 

30th May 2020

30th May 2020***

 

Quarterly TCS certificate in respect of tax collected during the quarter ending March 31, 2019 (Form No. 27D)

 

30th May 2020

30th June 2020*

 

Electronic submission of statement by a non-resident (under section 285) having a liaison office in India for the financial year 2019-20 (Form No. 49C)

 

30th May 2020

30th June 2020*

  

Act

Nature of Compliance

Original Due Date

Extended Due Date

Income-Tax

Quarterly statement of TDS deposited for the quarter ending March 31, 2020

 

 

 

 

31st May 2020

 

 

 

30th June 2020*

Application for allotment of PAN:

    a)  In case of non-individual resident person, which enters into a financial transaction of Rs. 2,50,000 or more during FY 2019-20 and hasn’t been allotted any PAN

     b)  In case of person being managing director, director, partner, trustee, author, founder, karta, chief executive officer, principal officer or office bearer of the person referred to in Rule 114(3)(v) or any person competent to act on behalf of the person referred to in Rule 114(3)(v) and who hasn’t allotted any PAN

 

 

Due date for furnishing of statement of financial transaction (in Form No. 61A) as required to be furnished under sub-section (1) of section 285BA of the Act respect of a financial year 2019-20

 

                                                                                                                                           

* The CBDT vide the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 dated 31-03-2020 has extended all respective due dates, falling during the period from 20-03-2020 to 29-06-2020, till June 30, 2020.

**The benefit of extended due date shall not be available in respect of payment of tax. However, any delay in payment of tax which is due for payment from 20-03-2020 to 29-06-2020 shall attract interest at the lower rate of 0.75% for every month or part thereof if same is paid after the due date but on or before 30-06-2020.

***Tax deducted under sections 194-IA, 194-IB or 194M is deposited through a challan-cum-statement in Form 26QB, 26QC and 26QD respectively. Hence, the date of payment and filing of statement happen on the same date. As Ordinance has not extended the due date for deposit of tax, it is advisable that the tax should be deposited by the prescribed due date, that is, 30 days from the end of the month in which tax is deducted, to avoid levy of interest.

Also Read: Income Tax Compliance Calendar for June 2020 

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