Due date for TDS return of Q4 for FY 2019-20 and Q1 for FY 2020-21 and investment for deduction under Chapter VI-A

Recently, many due dates were extended and people were confused as to which due dates are when. Same is with regard to TDS return and investment for deduction under Chapter VI-A which includes 80C, 80D, 80G etc.

1. TDS return for Q4 of FY 2019-20:

In the normal scenario the due date for filing of TDS return for Q4 of FY 2019-20 would have been 31.05.2020 but due to Covid the due date was extended to 31.07.2020 and hence one could file TDS return for Q4 till 31.07.2020.

If one wishes to file TDS return after 31.07.2020 he shall be liable to a late fees at Rs. 200 per day maximum upto the amount of tax under section 234E.

Further, if the deductor has still not deducted TDS interest shall also be charged under section 201(1A).

2. TDS return for Q1 of FY 2020-21:

Similarly in the normal scenario TDS return for Q1 of FY 2020-21 was to be filed till 31.07.2020. However, due to Covid, CBDT vide notification dt. 24.06.2020, extended all the due dates due till December, 2020 to 31.03.2021. Hence due date for TDS return of FY 2020-21 have been extended to 31.03.2021.

You can read the same on Income Tax India official twitter handle at: https://twitter.com/IncomeTaxIndia/status/1288402815572783104

3. Last date for Deduction under Chapter VI-A for FY 2019-20:

In normal scenario due date for investment under Chapter VI-A for claiming deduction under 80C, 80D etc is 31st March of the relevant previous year but due to Covid same was also extended vide notification 35/2020 till 31.07.2020.

Also the ITR were amended wherein a special “Schedule-DI” was introduced to include deduction of investment made between 31.03.2020 to 31.07.2020.

Thus, this are the major due dates for 31.07.2020 which have ended today.