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Relaxation in Compliances Under Various Laws Due To COVID-19 Lockdown

Relaxation in Compliances Under Various Laws Due To COVID-19 Lockdown

1. Income Tax

S.No Compliance Original Status After Relief
Measures
Remarks
1 Income Tax Return Filing
the date for F.Y 2019-20
For Individuals-31Jul,
corporates/ Tax Audit cases-
31st Oct, Transfer pricing
cases, -30th Nov
Due Date
extended to 30th
Nov in all cases
 
2 Filing of belated Income
Tax Return/Revise Return
for FY 2018-19
31.3.2020 30.6.2020  
3 Furnishing of Tax Audit
Report
30th September 31st October  
4 Furnishing of Transfer
Pricing Report
31st October 31st October No Change
5 Time Limitation for
Payment u/s 80(c)/
80CCB/80CCD/80(D)/80E/
80G for FY 2019-20
31.3.2020 30.6.2020  
6 The time limit for Investment
u/s 54EC/54/54F.e from
Sec 54 to 54GB
As prescribed If time limitation
is expiring
between 20.3.20
to 29.6.20, then
extended till
30.6.2020
 
7 Period of stay in India for
POI for determining
residential status for FY
2019-20
The actual period of stay in India From 22 nd March
to 31 st March will
not be counted
Lockdown period
should not be
counted for the FY
2020-21 but no
relaxation so far
8 Filing of Statement of
Financial transactions
( Form 61A)
31st May 2020 30th June 2020  
9 Filing of Statement of
Reportable Accounts
( Form 61B)
31 st May 2020 30th June 2020 Not specifically
clarified but should
be this position
only
10 Time Limitation for giving
reply to Notices, Appeal
etc.
As per existing limitation Where the
limitation is
falling between
22 Mar to 29
Jun, last date
shall be taken as
30th June
 
11 Application for
Registration/Re-
registration for charitable
societies
As applicable If time limitation
is expiring
between 20.3.20
to 29.6.20, then
extended till
31.12.2020
 
12 Time Limit for Starting SEZ
operations u/s 10AA
If expiring by 31.3.2020 Extended till
30.6.2020
If the letter of approval
already issued up
to 31.3.2020
13 Time barring of
Assessments
31.3.20 / 30.9.20 / 31/12.20 Extended by 3
months
respectively
 
14 Interest on delay in
Payment of
Advance Tax,
Self-Assessment Tax,
Regular Tax, Equalization
Levy, STT/CTT
Tax Due Date falling between
20.3.20 to 30.6.2020
Interest shall be
levied at @ 9%
instead of 12%
for the period
20.3.2020 till
30.6.2020
Provided Payment
is made till
30.6.2020
15 Advance Payment Tax
Dates for FY 2020-21
Due Dates
15th June
15th September
15th Dec
15th Mar
for 15th June
installment,
Concessional
Interest @ 9%
instead of 12%
till 30.6.2020
Applicable only if
Payment of tax is
made till 30.6.2020
16 Payment under
Vivad Se Vishwas Scheme Without additional Interest
30.06.2020 Can pay till
31.12.2020
 
17 Pending refunds for
Assesses other than
Corporates
As per Applicable dates Immediate
refunds to be
made
 

 

2. Tax Deducted / Collected at Source ( TDS/ TCS)

S.No Compliance Original Status After Relief
Measures
Remarks
1 TDS/TCS Rates in
Non Salary cases
 Professional-10%,
 Technical Fees-2%
 Rent-10%/2%
 Contractor-2%/1%,
 Brokerage/Commission-5%
 TDS immovable property-1%
 TDS on Payment of Rent> 50K p.m—5%
 Payment to contractor/
professional above 50 Lacs
in case of Non business
entity…1%
For all
deductions
made between
14.5.20 to
31.3.2021, rates
will be 75% of
original Rate.

This relief is only in
case of payments
to Residents. No
concession in case
of Non Resident
Payments

No reduction in
case of higher rate
due to Non
Provision of PAN.

2 All TDS/TCS returns
for Q-4 of FY 2019-20
TDS …31.05.2020
TCS….15.05.2020
30.06.2020  
3 Statement in Form
26QB/26QC/26QD
including for Payment
Feb20…30.3.20
Mar20… 30.4.20
Apr20…30.5.20
Extended till
30.06.2020
 
4 Issue of TDS
Certificates
16,16A . Q-4 /19-20—15.6.2020
16B, 16C, 16D……
for March…15 th May
For April…14 th June
Extended till
30.06.2020
 
5 Interest on delayed
payment of TDS for
the period 20.3.2020
to 30.2020
Non deduction: 1% p.m.
Non -payment: 1.50% p.m.
0.75 % on Non-
payment if paid
till 30.6.20
No penalty
/prosecution if
deposited by
30.6.20
6 Form 15G/15H for FY 2020-21
( If already have
certificate for FY
2019-20)
Submit before the deduction date. Existing
Certificate will
apply up to
30.6.2020. But
only if apply for
FY 2020-21 up
to 30.6.2020
if no certificate submitted for FY
2019-20, then no
relief.
7 Certificate u/s 197 for
Lower Rate of
TDS/TCS (other than
Non-Resident)
( If already have
certificate for FY
2019-20)
Applicable after receipt of
certificate
Existing
Certificate will
apply up to
30.6.2020. But
only if apply for
FY 2020-21 up
to 30.6.2020
if no certificate
issued for FY 2020-
21 & no certificate
for FY 2019-20,
then no relief.
8 Applicability of
certificate u/s 197 for
Lower Rate of
TDS/TCS for Non-
Resident) u/s 195
Applicable after receipt of
certificate
Existing
certificate for FY
2019-20 will
apply up to
30.6.2020 if
same nature of
transaction. But
only if apply for
FY 2020-21 up
to 30.6.2020
No certificate for
FY 2019-20, but
certificate for FY
2020-21 applied
but not issued, then
10% plus
surcharge plus
Cess if Non-
Resident having
PE in India
9 Procedure for
Application u/s
197/209C(9)
To be filed through TRACES
Portal with DSC
Can be filed
through Email to
Assessing
Officer by filing
Form 13
To Resend info on
email to A.O where
application for FY
2020-21 already
made through E-
portal.

 

3. Goods & Service Tax (GST)

S.No Compliance Original Status After Relief
Measures
Remarks
1 GSTR-1 Applicable original dates No extension of due
date but for Levy of
Interest and late fees
for Mar, Apr, & May
20 and Last Qtr
return for FY 2019-
20, date extended till 30th June
However, no levy
of Late fees, if filed
till the extended date,
otherwise levy
from day 1 of
original due date
2 GSTR- 3B
For Taxpayers up to
Turnover up to 1.5 Cr in
preceding FY
Applicable original dates For Feb—30th June
For-Mar—3rd jul
For Apr… 6th jul
For May—12/14th
July
No Interest and
Late fees if filed in
Extended
Time
3 GSTR- 3B
For Taxpayers
Turnover>1.5 crores but
up to 5 Cr
Applicable original dates For Feb—29th June
For-Mar—29th June
For Apr… 30th June
For May—12/14th
July
No Interest and
Late fees if filed in
Extended
Time.
4 GSTR- 3B
For Taxpayers having
Turnover >5 Cr
Applicable original dates For Feb—24th June
For-Mar—24th June
For Apr….. 24th June
For May— 27th June
No Late fees if filed in
Extended Time
If filed within
extended due
Interest NIL up to
15 days of original
due date and
thereafter at
Concessional
Rate of 9% p.a
5 GSTR-5,6,7,8 Applicable original dates 30th June,20  
6 GSTR-9 & 9C For Fy
2018-19
30th June,20 30th Sept20  
7 E-Way Bill Generated on or before
24th  March and Expiring
between 20th  March to
15th  April…as prescribed
In this case the
expiry of the E
waybill shall be
deemed to be
extended till 31 st  May
2020.
 
8 Composition Scheme As per applicable dates

Can be opted till 30 th June

Should not file
Returns for first
Qtr of FY 2020-21
9 Electronic Cash Ledger The transfer was not possible

Can file PMT-09 for
correction in various
heads

 
10 Filing of LUT for FY 2020-
21
Before the supply of export
services without payment
of GST

Can be filed till 30th
June 2020. Until
then LUT for FY
2019-20 is valid

 
11 DSC for GST Return-3B

Required in Corporate & LLP Cases

Not required, can be
filed with SMS/ EVC
till 30th June

No relaxation for
GSTR-1
12 Revival of GST
Registration Cancelled till
14.3.20

Where cancelled due to
Non-filing of returns,
application for restoration
can be made within 30
days of Cancellation

Application for
restoration can be
made till 30th June,20

 
13 New GST Registration by
IPR/RP

20 th April,20

30th June,20 or within
30 days of
appointment
whichever is later

 
14 Input GST credit –
restriction rule of 110%
with reference to GSTR2A

Feb to Aug20

Relaxation given
from this Rule

However, FORM
GSTR-3B for
Sept. 2020 shall
be furnished with
the cumulative
adjustment of
input tax credit
15 Payment under Sabka
Vishwas Scheme

31.3.2020

Extended till
30.6.2020 without
interest

 

 

4. Companies Act / MCA Filings

S.No Compliance Original Status After Relief
Measures
Remarks
1 Audit under Companies
Act for FY 2019-20
29th Sept 2020 (with
Short Notice ).
No relaxation so far  
2 Filing of Documents with MCA, AOC-4, MGT-7 etc. for FY 2019-20 Within 30 days/60 days of holding AGM No relaxation so far  
3 Filing of Documents with
MCA, for Companies
which is pending to be
filed (except Increase in
the Authorized Capital (
SH –7), Charge related
documents (CHG
–1,4,8,9)
As per Applicability with
additional fees/ penalty/
prosecution
Up to 30.9.2020
without additional fees
No
prosecution/penalty if
filed till 30.9.20
Company
Fresh Start
Scheme of 2020
(Conditions to
apply and
certain cases
are excluded)
4 Any document due to be
filed till 31 st Aug2020 for
an LLP
As per Applicability with
fine
Up to 30.9.20 without
additional fees No
prosecution/penalty if
filed till 30.9.20
LLP Settlement
Scheme of 2020
5 DIN KYC Verification 30th April,20 30th September,20  
6 Violations regarding CSR
Reporting, Inadequacies
in Board Report, Filing
Defaults, delay in holding
AGM etc.
These were considered
criminal in Nature and
subject to prosecution of
concerned Directors etc.
These violations have
now been
decriminalized
Withdrawal of 14000
prosecution cases
Power of RD
increased
Majority of
Compoundable
offences to be
shifted to
Internal
Adjudication
Mechanism,
7 Penalties for Default by
Small Companies, OPC,
Producer Company and
Startups
As Applicable Penalties Lowered Provision of
Part IX
A(Producer
Companies) of
Companies Act
1956
introduced in
Companies
Act,2013
8 MSME Return for half
year ending 31 st Mar,20
30th April 2020 30.09.2020  
9 Return of Deposit in DPT-
3 for FY 2019-20
30th June 2020 30.09.2020  
10 Board Meetings-Gap
between two meetings
Not to exceed 120 days increased to 180 days Applicable till
30.09.2020.
11 Board Meetings – where
accounts were being
approved /Board Report
Video conferencing not
allowed
Allowed till 30.6.2020 No Relaxation
where approval
of Prospectus,
amalgamation
etc. & financial
statement by
Audit
committee
12 Companies (Auditor’s
Report) Order, 2020
Applicable from FY 2019-
20
Applicable from FY
2020-21
 
13 Meeting of Independent
Directors
The independent
directors are
required to hold at least
one meeting in a year,
without the attendance of
non-independent
directors and members of
management
For the year 2019-20,
if the Independent
directors of a
company to hold even
one meeting, the
same shall not be
viewed as a violation
 
14 The requirement of filing a
declaration for
Commencement of
Business by newly
incorporated enterprises
Within 6 months of
incorporation
Additional time of 6
months allowed
 
15 Minimum residency in
India under Section 149
of Companies Act
Minimum residency-
period of at least 182
days by at least one
Director of every
company
Non- compliance shall
not be treated as
violation
 
16 Requirement under
section 73(2)(c) of CA-13
to create the deposit
repayment reserve of
20% of deposits maturing
during the financial year
2020-21
before 30th April 2020 shall be allowed to be
complied with till 30th
June 2020.
 
17 The requirement to invest or
deposit at least 15% of
amount of debentures
maturing in specified methods of investments
or deposits
before 30th April 2020,
under rule 18 of the
Companies (Share
Capital & Debentures) Rules, 2014
may be complied with
till 30th June 2020
 
18 General Meetings of
Members-EGM/AGM
Video conferencing was
not allowed
Video Conferencing
allowed until 30th June
2020
Detail
procedure
prescribed in
MCA circulars
19 Compliance of Secretarial
Standards
SS-1 & SS-2 are
compulsory in Nature
Relaxation is given as
per Guidance Note
dt.15.4.2020 by ICSI
 
20 Minutes of the meetings
Refer Secretarial
Standard (SS-1 & SS-2)
To be physically signed
where minutes kept
physically & with DSC
when in Electronic form
can be digitally signed
by Chairman
But after
Lockdown
needs to sign
physically
21 The signing of documents by
Directors Rule 8 of Companies
(Registration Offices and
Fees) Rules, 2014 for.
Authentication of
documents
Physical Signing
mandatory for Notices
and Balance Sheet etc.
No Relaxation
However, may refer to
The Information
Technology Act 2000
and Evidence Act.
MCA should
come out with
detail
guidelines
22 Signing by Auditors /CA Physical Signing
mandatory ( Except
where DSC allowed)
signing through DSC
allowed
As per ICAI
Announcement
dated
13.04.2020
23 UDIN by CA Latest within 15 days
from the date of signing
the attestation document
No Change  

 

5. Labour Laws & Other Acts

S.No Compliance Original Status After Relief Measures Remarks
1 MSME Definition Manufacture:-
Micro if Investment if
<25 Lacs, Small if
investment <5cr and
Medium if <10cr
Services:-
Micro if Investment
<10 Lacs, Medium if
investment <2cr and
Medium if Investment
<5cr
Manufacture & Services,
same criteria
Micro—Investment less
than 1 CR &Turnover
less than 5CR
Small—Investment less
than 10 CR & Turnover
less than 50CR
Medium—Investment less
than 20 CR &Turnover
less than 100CR
Registration certificate
should be obtained for
availing different benefits
like concessional Loans,
Payment within 45 days
etc.
-Emergency Credit
Line to
Businesses/MSMEs
from Banks and
NBFCs up to 20% of
entire outstanding credit as on 29.2.2020
2 Moratorium of Term
loan and
Deferment of Interest
on Working Capital
As per original Terms moratorium extended till
August 31, 2020
 
3 Export Credits (Pre
and Post Shipment
Payment against
Imports
(under FEMA
Regulations)

9 months

6 months

15 months

12 months

 
4 Application under
Service Export from
India Scheme (SEIS)
for FY 2018-19

31.3.2020

31.12.2020

 
5 For filing various
reports etc by listed
companies under
SEBI Regulations

As applicable

Extended normally by one month

 
6 For companies
employing up to 100
workers
(for workers covered
under PMGKY)

Payment of 12%
Employer & employee
contributions for March
to May 2020 was made
into EPF accounts by
Govt.

support is extended for
June, July and August
2020

 
7 Contribution to PF
for all establishments
for next here months
Except Central and
State public Sector
Undertakings

12% for Employer and
12% by Employee

Reduced to 10% for both
for workers other than
under PM Garib Kalyan
Package and its
extension.

No penalty action due to
delay in payment for
period under Lockdown
8 Contribution to PF
(Establishments up to
100 employees and
90 per cent of those
earning less than Rs
15,000 per month)

12% for Employer and
12% by Employee

Payment from March to
August 2020 shall be
borne by Govt.

Very few organization
will be able to fulfil this
criteria
9 Non Refundable
Advance to workers
from their PF
Accounts

Non-refundable
advances are permitted
only for specified
purposes such as
housing, marriage.

PF Withdrawal of 75 per
cent of a)the credit
standing in the EPF
account or
b) three months of wages
Whichever is lower.
The withdrawal from the
EPF account will be non-
refundable.

 
10 Contribution to ESI

The due date for filing ESI
Contribution is 15th of
subsequent month

Due date of ESI
Contribution for Feb and
March extended to 15th
May 2020 without interest
and penalty.

No Penalty/prosecution
for the delay in deposit of
dues for the Lockdown
period
11 Various Provisions of
Labour Laws

As per Existing
provisions

Relief being provided
state wise.

 

 

Note:

(For Private Information only and not for quoting. Can be used for own consumption only after ascertaining the correctness of the information. Advised to consult your Tax Consultant/Adviser in case of any clarification or further guidance.)

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Relaxation in Compliances Under Various Laws Due To COVID-19 Lockdown

Profile photo of CA Pankaj Gupta CA Pankaj Gupta

Mr. Pankaj Gupta is a Fellow Member of the Institute of Chartered Accountants of India (ICAI) and also Fellow Member of The Institute of Company Secretaries of India (ICSI). He has his own CA practice at Noida under the Firm Name “ P.R. Gupta & Co.” and has over 40 years of professional experience dealing in Direct Taxes, Indirect Taxes, Corporate Laws, and FEMA Laws, etc. Clientele includes Non-Residents Individuals and corporate entities. He has remained office-bearer of many professional organizations like ICAI, ICSI, Noida Management Association. He has been instrumental in organizing various professional seminars and has been a speaker at various forums and contributing professional Articles.

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