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Tax calendar for the month of May, 2020 – Income Tax, GST

Author: Riya Thawani
by Riya Thawani
Posted: May 04, 2020

Compliance means adhering to rules and regulations. "If you think compliance is expensive, try non? compliance." This article contains various compliance requirements including due dates of return filing under Income Tax Act, 19612 and Goods & Services Tax Act, 2017 (GST).

Compliance Requirement Under Income Tax Act, 1961 Compliance Particulars Due DatesRevised Due DatesFiling of belated return for the Assessment Year 2019-2031.03.202030.06.2020Filing of revised return for the Assessment Year 2019-2031.03.202030.06.2020Sending an intimation after processing of return of income (ITR), if the return is filed:

a) During Financial Year 2018-19 under section 139;

b) During Financial Year 2018-19 in response to a notice issued under section 142(1) 31.03.2020 30.06.2020Furnishing of TDS Statement for the fourth quarter (Jan – March, 2020) of the Financial Year 2019-20 31.05.2020 30.06.2020Furnishing of TDS Statement in form 26QB/26QC/ 26QD for the month of

a) February, 2020

b) March, 2020

c) April, 2020 30.03.2020 30.04.2020 30.05.2020 30.06.2020Furnishing of TCS Statement for fourth quarter of the Financial Year 2019-20 15.05.2020 30.06.2020Issue of TCS certificate for the fourth quarter of the Financial Year 2019-20 30.05.2020 30.06.2020Furnishing of Form 24G by an office of the Government for the month of

a) March, 2020

b) April, 2020

c) May, 2020 30.04.2020 15.05.2020 15.06.2020 30.06.2020Due date to send the intimation for processing of statement of TDS/TCS filed during the Financial Year 2018-19 31.03.2020 30.06.2020Important Updates:

  • 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.??
  • Filing of tax return (where no tax audit is required)- The due date for filing the personal tax return remains unchanged at 31 July 2020.
Compliance Requirement Under Goods and Services Tax Act, (GST) 2017

Keeping in view the preventive measures taken to contain the spread of Novel Coronavirus (COVID-19) and the difficulties being faced by the GST taxpayer, Ministry of Finance, Department of Revenue, Central Board of Indirect Taxes & Customs, has extended the due date for Filing GST Returns.

A. GSTR 3B Due Dates for May 2020
  1. If Turnover more than Rs 5 Crore – Due date ofGstr 3B is 27.06.2020
  2. If Turnover less than Rs 5 Crore (in two parts):
Due Date – 12.07.2020Due Date– 14.07.202015 States/UT’s:

(States:- Chhattisgarh, MP, Gujarat, Daman and Diu, Dadra and Nagar Haveli, Maharashtra, Karnataka, Goa, Lakshadweep, Kerala, TN, Puducherry, Andaman and Nicobar Islands, Telangana and Andhra Pradesh)22 States/UT’s:

(states:- J&K, Laddakh, Himachal Pradesh, Punjab, Chandigarh, Uttarakhand, Haryana, Delhi, Rajasthan, UP, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand and Odisha)B. GSTR 3B Due Dates for tax periods of February, 2020 to April, 2020.

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Author: Riya Thawani

Riya Thawani

Member since: Apr 29, 2020
Published articles: 11

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