Due Date for filing Income Tax Returns for AY 2019-20 further extended from 31st July, 2020 to 30th September, 2020

MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 29th July, 2020
TAXATION AND OTHER LAWS

S.O. 2512(E).– In exercise of the powers conferred by sub-section (1) of section 3 of the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 (2 of 2020), the Central Government hereby makes the following amendment in the notification of the Government of India, Ministry of Finance, Department of Revenue,Central Board of Direct Taxes, number 35/2020, dated the 24th June, 2020, published in the Gazette of India, Extraordinary, Part-II, Section 3, Sub-section (ii), vide number S.O. 2033(E), dated the 24th June, 2020, namely:-

(i) in the first proviso, in clause (i), in sub-clause (a), for the words, figures and letters “the 31st day of July,2020” the words, figures and letters “the 30th day of September, 2020” shall be substituted;

(ii) after the second proviso, the following proviso shall be inserted, namely: - “Provided also that for the purposes of the second proviso, in case of an individual resident in India referred to in sub-section (2) of section 207 of the Income-tax Act, 1961 (43 of 1961), the tax paid by him under section 140A of that Act within the due date (before extension) provided in that Act, shall be deemed to be the advance tax:”.

2. This notification shall come into force from the date of its publication in the Official Gazette.
[Notification No. 56/2020/ F. No. 370142/23/2020-TPL]

NIRAJ KUMAR, Dy. Secy. (Tax Policy and Legislation Division)

Note:- The principal notification number S.O. 2033(E), dated the 24th June, 2020 was published in the Gazette of India, Extraordinary, Part-II, Section 3, Sub-section (ii), dated 24th June, 2020.

Sources: Ministry of Finance

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CBDT grants relaxation in eligibility conditions for filing of Income-tax Return Form-1 (Sahaj) and Form-4 (Sugam) for Assessment Year 2020-21

In order to ensure that the e-filing utility for filing of return for assessment year (A.Y) 2020-21 is available as on 1st April, 2020, the Income-tax Return (ITR) Forms ITR-1 (Sahaj) and ITR-4 (Sugam) for the A.Y 2020-21 were notified vide notification dated 3rd January, 2020. In the notified returns, the eligibility conditions for filing of ITR-1 & ITR-4 Forms were modified with an intent to keep these forms short and simple with bare minimum number of Schedules. Therefore, a person who owns a property in joint ownership was not made eligible to file the ITR-1 or ITR-4 Forms. For the same reason, a person who is otherwise not required to file return but is required to file return due to fulfilment of one or more conditions in the seventh proviso to section 139(1) of the Income-tax Act, 1961 (the Act), was also not made eligible to file ITR-1 Form.

After the aforesaid notification, concerns have been raised that the changes are likely to cause hardship in the case of individual taxpayers. The taxpayers with jointly owned property have expressed concern that they will now need to file a detailed ITR Form instead of a simple ITR-1 and ITR-4. Similarly, persons who are required to file return as per the seventh proviso to section 139(1) of the Act, and are otherwise eligible to file ITR-1, have also expressed concern that they will not be able to opt for a simpler ITR-1 Form.

The matter has been examined and it has been decided to allow a person, who jointly owns a single house property, to file his/her return of income in ITR-1 or ITR-4 Form, as may be applicable, if he/she meets the other conditions. It has also been decided to allow a person, who is required to file return due to fulfilment of one or more conditions specified in the seventh proviso to section 139(1) of the Act, to file his/her return in ITR-1 Form.

Source: https://pib.gov.in/PressReleseDetail.aspx?PRID=1598980

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Filing Form GSTR-4 Annual Return by Composition Taxpayers on GST Portal

Filing Form GSTR-4 Annual Return by Composition Taxpayers on GST Portal

1. What is Form GSTR-4 Annual Return: - With effect from 1^st April, 2019, all Composition Taxpayers are required to file Form GSTR-4 Annual Return, on annual basis, for each financial year.
   
2. Who are required to file Form GSTR-4 Annual Return: All registered taxpayers who have opted for composition scheme or were under composition scheme under GST, for any period during a financial year, starting from 01.04.2019, need to file Form GSTR-4 Annual Return, annually.  
3. Who can file NIL Form GSTR-4 Annual Return: Nil Form GSTR-4 Annual Return can be filed for the financial year, if you have, for all applicable quarters of the year,: 
   • NOT made any outward supply 
   • NOT received any goods/services
   • Have NO other liability to report
   • Have filed all Form CMP-08 as Nil
4. Due date of Filing: The due date for filing Form GSTR-4 Annual Return is 30^th of the month succeeding the financial year or as extended by Government, from time to time. For FY 2019-20, it has to be filed by 31/08/2020.
5. Filing Form GSTR-4 Annual return: Logon to your dashboard, click on Services > Returns > Annual Return >Select FY>Search>GSTR 4> FILE THE RETURN.
6. Some important Points:
   • Form GSTR 4 can be filed only if, all applicable quarterly statements in Form CMP 08 of that financial year, have been filed.
   • Form GSTR-4 Annual Return, once filed, can’t be revised
   • After successfully filing, ARN will be generated and intimated through email and SMS
   • Currently only the online filing has been enabled on the portal. Shortly, offline tool to file Form GSTR-4 Annual Return will also be made available.
7. How it is different from Form GSTR-4 Quarterly Return: Please note that this Form GSTR-4 Annual Return is different from the Form GSTR-4 Quarterly Return, which was required to be filed on a quarterly basis. 
   1. Form GSTR-4 Quarterly Return is applicable up to tax period ending on 31^st March, 2019, for composition taxpayers. 
   2. For tax periods till the quarter ending March, 2019, Composition Taxpayers are required to file Form GSTR-4 Quarterly Return (which is also available on the GST portal), on quarterly basis. Whereas from 01.04.2019, composition taxpayers are required to file Form GST CMP 08, on quarterly basis
8. Click links below for details: 
   ForFAQ: https://tutorial.gst.gov.in/userguide/returns/index.htm#t=faq_GSTR4annual.htm
   ForUM: https://tutorial.gst.gov.in/userguide/returns/index.htm#t=manual_GSTR4annual.htm
    
   Source : www.gst.gov.in
   

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Clarification in relation to notification issued under clause (v) of proviso to section 194N of the Income-tax Act, 1961 (the Act) prior to its amendment by Finance Act, 2020 (FA, 2020)-Reg.

Circular no. 14/2020
Room no. 147B-II , North Block,
New Delhi, dated 20th July, 2020

Subject: Clarification in relation to notification issued under clause (v) of proviso to
section 194N of the Income-tax Act, 1961 (the Act) prior to its amendment by Finance
Act, 2020 (FA, 2020)-Reg.

Section 194N of the Act as inserted by Finance (No.2) Act 2019 provided for
deduction of tax at source on payment made by a banking company, a cooperative society
engaged in the business of banking or post office, in cash to a recipient exceeding Rs. I crore
in aggregate during a financial year from one or more account maintained by such recipient.
Clause (v) of proviso to the said section had empowered the Central Government, in
consultation with the Reserve Bank of India (RBI), to exempt by way of notification in
Official Gazette, persons or class of persons so that payments made to such persons or class
of persons shall not be subjected to TDS under this section. Accordingly, in exercise of the
said power, Central Government has issued three notifications which are as under:

(a) Notification 68 of 2019 dated 18.09.2019: Cash Replenishment Agencies (CRAs) and
franchise agents of White Label Automated Teller Machine Operators (WLATMOs)
for the purpose of replenishing cash in ATMs operated by these entities subject to
conditions mentioned in the said notification

(b) Notification 70 of 2019 dated 20.09.2019: Commission agent or trader operating
under Agriculture Produce market Committee (APMC) and registered under any law
relating to Agriculture Produce Market of the concerned State have been exempted
subject to conditions specified in the said notification

(c) Notification 80 of 2019 dated 15.10.2019: the authorized dealer and its franchise
agent and sub-agent and Full Fledged Money Changer (FFMC) licensed by the
Reserve Bank of India and its franchise agent for the purposes oj,-

(i) Purchase of foreign currency from foreign tourists or non-residents visiting
India or from resident Indians on their return to India, in cash as per the
directions or guidelines issued by Reserve bank of India; or

(ii) Disbursement of inward remillances to the recipient benefiCiaries in India in
cash under Money Transfer Service Scheme (MFSS) of the Reserve Bank of
India; and subject to the conditions specified in the said notification.

2. Section 194N of the Act was amended by the Finance Act, 2020 (the FA, 2020) in
order to make the provisions of the said section more stringent for non ITR filers. It is to note
"that the clause (v) of the proviso to section 194N prior to its amendment has now become
fourth proviso to the said section. Representations have been received seeking clarification
regarding the validity of the above mentioned notifications in light of the amendments carried
out by FA, 2020.
3. The matter has been examined by the Board and it is hereby clarified that the above
mentioned three notifications shall be deemed to be issued under fourth proviso to section
194N as amended by the FA, 2020. It is further reiterated that the exemption allowed under
the said notifications shall be subject to the conditions laid down therein.

Source: https://www.incometaxindia.gov.in

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Interim measure for filing revocation of cancellation order in appeal channel

Interim measure for filing revocation of cancellation order in appeal channel

1. In case your application for revocation of cancellation of registration was rejected by the tax authorities before 12/6/2020 and you wish to avail benefit of RoD order 01/2020 dated 25.06.2020, as an interim measure, you can request the appellate authority or the higher authority to pass a simple offline order on it for restoration of the application.

2. Based on such order, your jurisdictional authority can restore the application for revocation of cancellation. You need to apply post login:- Registration- Restore Registration- Restore Revocation. You have to enter ARN of the order and would require to upload scanned copy of the order passed after clicking “Appeal in favour”.

3. GSTN is working on to remove present restriction on reapplication of the revocation of cancellation application. After that filing of revocation of application would become one step process. It is expected to be available shortly. The above suggested solution is an interim measure.

Source: www.gst.gov.in

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One-time relaxation for Verification of tax-returns for the Assessment years 201S-16, 2016-17, 2017-18, 2018-19 and 2019-20 which are pending due to non-filing of ITRV form and processing of such returns

Circular No. 13 /2020
New Delhi, dated the 13th of July, 2020

Subject: - One-time relaxation for Verification of tax-returns for the Assessment years
201S-16, 2016-17, 2017-18, 2018-19 and 2019-20 which are pending due to non-filing of ITRV

form and processing of such returns - reg.

In respect of an Income-tax Return (ITR) which is filed electronically without a digital
signature, the taxpayer is required to verify it using anyone of the following modes with in the
time limit of 120 days from date of uploading the ITR : -
i. Through Aadhaar OTP
ii. By logging into e-filing account through net banking
iii. EVC through Bank Account Number
iv. EVC through Demat Account Number
v. EVC through Bank ATM
vi. By sending a duly signed physical copy of ITR-V through post to the CPC, Bengaluru

2. In this regard, it has been brought to the notice of Central Board of Direct Taxes

('CBDT') that a large number of electronically filed ITRsstili remain pending with the Incometax
Department for want of receipt of a valid ITR-V Form at CPC, Bengaluru from the
taxpayers concerned. In law, consequences of non-filing the ITR-V within the time allowed is
significant as such a return is/can be declared Non-est in law, thereafter, all the consequences
for non-filing a tax return, as specified in the Income-tax Act,1961 (Act) follow.

3. In this context, as a one-time measure for resolving the grievances of the taxpayers

associated with non-filing of ITR-V for earlier Assessment Years and to regularize such returns
which have either become Non-est or have remained pending due to non-filing/non-receipt of
respective ITR-V Form, the CBDT, in exercise of powers under section 119 of the Act, in case
of returns for Assessment Years 201S-16, 2016-17, 2017-18, 2018-19 and 2019-20 which
were uploaded electronically by the taxpayer within the time allowed under section 139 of
the Act and which have remained incomplete due to non-submission of ITR-V Form for
verification, hereby permits verification of such returns either by sending a duly signed
physical copy of ITR-V to CPC, Bengaluru through speed post or through EVC/OTP modes as
listed in para 1 above. Such verification process must be completed by 30.09.2020.

4. However, this relaxation shall not apply in those cases, where during the interven ing

period, Income-ta~: Department has already taken recourse to any other measure as specified
in the Act for ensuring filing of tax return by the taxpayer concerned after declaring the return
as Non-est.

5. Further, eBDT, also relaxes the time-frame for issuing the in t imation as provided in
second proviso to sub-section (1) of Section 143 of the Act and directs that such returns shall
be processed by 31.12.2020 and intimation of processing of such returns shall be sent to the
taxpayer concerned as per the laid down procedure. In refund cases, while determining the
interest, provision of section 244A (2) of the Act would apply.

6. In case the taxpayer concerned does not get his return regularized by furn ishing a valid

verification (either ITR-V or EVC/OTP) by 30.09.2020, necessary consequences as provided in

law for non-filing the return may follow.

Soruce: www.incometaxindia.gov.in

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Important - TDS on Cash Withdrawal U/s 194N w.e.f. 01.07.2020

બેંકમાંથી રોકડ ઉપાડ માટેની ટી.ડી.એસ. (194N) હેઠળ ફેરફારો (તા. 1 જુલાઈ 2020 થી અમલમાં)

તા. 1 જુલાઈ 2020 થી અમલમાં આવેલ ફેરફાર મુજબ, જો છેલ્લા 3 વર્ષના ઇન્કમ-ટેક્સ રીટર્ન ફાઈલ કરવામાં ન આવ્યા હોય તો નીચે મુજબની જોગવાઈ લાગુ પડશે;

વિગત	ટી.ડી.એસ.
નાણાકીય વર્ષમાં બેન્કમાંથી ટોટલ રોકડ ઉપાડ 20 લાખથી વધુ અને 1 કરોડથી ઓછી (એક જ બેંકમાં એક થી વધુ સેવિંગ / કરન્ટ / સી.સી. / ઓ.ડી. તમામની ટોટલ રોકડ ઉપાડ)	2 %
નાણાકીય વર્ષમાં બેન્કમાંથી ટોટલ રોકડ ઉપાડ 1 કરોડથી વધુ (એક જ બેંકમાં એક થી વધુ સેવિંગ / કરન્ટ / સી.સી. / ઓ.ડી. તમામની ટોટલ રોકડ ઉપાડ)  1 કરોડથી વધુ રોકડ ઉપાડ પર 2% TDS કાપવામાં આવશે.	5 %

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