Category Archives: Income Tax

Submission of Return FY 2019-20 AY 2020-21

As most of you are aware the date for submission of your return of income was extended from July 31, 2020 to October 31, 2020 in the first quarter of this calendar year. Along with that extension the date for submission of audit reports was extended from September 30, 2020 to October 31, 2020 and […]

Deferment of Re-registration U.S. 12AA and 80G

The re-registration and renewal of  the 12AA and 80G certificates was originally supposed to commence on 1stJune and end by 31st August 2020. This time frame was subsequently extended and was to start from 1stOctober and end by 31st December 2020. The exercise is now likely to be deferred to 1st April 2021 under ‘The Taxation and Other Laws […]

TDS Rate Chart for FY 2020-21

Rates of TDS applicable for Financial Year 2020-21 Assessment Year 2021-22 from 14th May 2020 are as under Due dates for TDS quarterly Returns: Due dates for TDS payment: Interest on late payment and Late deduction of TDS: As per section 201(1A) Interest at the rate of 1% per month or part of the month […]