Quick reminder of tax compliance and reliefs provided under The Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 {Part 2}-Income Tax Act, 1961

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In case the deductor is other than Government

  1. The due date of payment of TDS u/s 200(1) and 200(2) of the Act {other than sum deduced u/s 194-IA, 194-IB and 194M} for the month of March, 2020 is 30th April , 2020 as prescribed in Rule 30(2)(a) of the Income Tax Rules, 1962.
  2. It is reiterated that 30th April, 2020 is the last date for deduction from “salary” as well as from “other than salary”.
  3. The Ordinance does not extend the above due date.
  4. Instead, the 2nd proviso to section 3(1) of the Ordinance provides that “such action shall not include payment of any amount as is referred to in sub-section (2). It means that the due date of payment of TDS / TCS is not extended, as of filling of TDS / TCS statement.
  5. Section 3(2) of the Ordinance provides that any tax or levy required to be paid during the period from the 20th day of March, 2020 to the 29th day of June, 2020, if paid on or before 30.6.2020, would bear interest @ 0.75% for month or part of the month for the period of such

In case the collector is other than Government

6. Similarly, due date of payment of TCS u/s 206C(3) for the month of March, 2020 is 7th April , 2020 as prescribed in Rule 37CA(2) of the Income Tax Rules, 1962.

7. However, section 3(2) of the Ordinance provides that any tax or levy required to be paid during the period from the 20th day of March , 2020 to the 29th day of June, 2020, if paid on or before 30.6.2020, would bear interest @ 0.75% for month or part of the month for the period of such delay.