Corporate Calendar For The Month Of June 2020

Complaince Requirement under Income Tax Act,1961

Applicable Laws/Acts Compliance Particulars Due Dates Revised Due Dated Income Tax Act, 1961 Filing of original return for the Assessment Year 2019-20 u/s 139 (1) 31.07.2020 Income Tax Act, 1961 Filing of belated return for the Assessment Year 2019-20 u/s 139 (4) 30.06.2020 31.07.2020 Income Tax Act, 1961 Filing of revised return for the Assessment Year 2019-20 u/s 139 (1) 30.06.2020 31.07.2020 Income Tax Act, 1961 TDS/ TCS Return for quarter ending 31.03.2020 (Q4 of F.Y. 2019-20) for Government Offices 30.06.2020 15.07.2020 Income Tax Act, 1961 TDS/ TCS Return for 31.03.2020 (Q4 of F.Y. 2019-20) quarter 30.06.2020 31.07.2020 Income Tax Act, 1961 Date of issuance of TDS certificate to employees in form 16A and other in form 16 15.07.2020 15.08.2020 Income Tax Act, 1961 Investments for claiming deduction under Chapter-VIA-B of the IT Act which includes section 80C, 80D, 80G etc. for the A.Y. 20-21 i.e. F.Y. 19-20 30.06.2020 31.07.2020 Income Tax Act, 1961 Investment/ construction/ purchase for claiming roll over benefit/ deduction in respect of capital gains under sections 54 to 54GB 30.06.2020 30.09.2020 Income Tax Act, 1961 Furnishing of Form 24G by an office of the Government for the month of:

i) Feburary 2020

ii) March 2020

iii)April to November 2020

15.03.2020

30.04.2020

Within 15 days from the end of the month

15.07.2020

15.07.2020

31.03.2020

Income Tax Act, 1961 New procedure for registration, approval or notification entities under u/s 10(23C), 12AA, 35 and 80G 01.06.2020 01.10.2020 Income Tax Act, 1961 Form 24QB, 24QC and 24QD of February and March 2020 (Section 200 read with Rule 31A or Section 206C read with Rule 31AA) 30.03.2020

30.04.2020

30.06.2020 Income Tax Act, 1961 Date of filing of declaration and payment of tax under VI VAD SE VISH WAS 30.06.2020 31.12.2020 Income Tax Act, 1961 Due date for any of the following actions, except mentioned above, under the the Wealth-Tax Act, 1957, Income-tax Act, 1961, Prohibition of Benami Property Transactions Act, 1988, Chapter VII of Finance (No. 2) Act, 2004 (dealing with Securities Transaction Tax), Chapter VII of Finance Act, 2013 (dealing with Commodities Transaction Tax), Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, Chapter VIII of Finance Act, 2016 (dealing with Equalisation Levy) and Direct Tax Vivad se Vishwas Act, 2020 by any Authority, Commission or Tribunal:

• passing order
• issuance of notice, intimation, notification, sanction or approval
• completion of proceedings
• any other action
• filing of appeal, reply, application
• furnishing of reports, document, return, statement or any such record

20.03.2020

to

31.12.2020

31.03.2020

Important Updates:

PAN-Aadhaar linking deadline FURTHER extended to beyond JUNE, 2020

The due date for linking of PAN with Aadhaar as specified under sub-section 2 of Section 139AA of the Income-tax Act,1961 has been extended from 31st December, 2019 to 31st March, 2020 and further extended to 31st March, 2021 due to COVID – 19 outbreak.

Important Notifications:

Sl. No.	Particulars of the Notification(s)	File No. / Circular No.	Notification Link(s)
1.	The principal notification was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii), vide number S.O. 1790	Notification No. 32/2020/ F.No. 370142/17/2020-TPL
2.	Central Government hereby notifies for the purposes of the said clause, ‘Greater Noida Industrial Development Authority’ (PAN AAALG0129L) - reg.	Notification No. 33/2020 F.No.300196/39/2018-ITA-I
3.	the Central Government hereby notifies for the purposes of the said clause, ‘Maharashtra Electricity Regulatory Commission’, Mumbai (PAN AAAGM0004R), a commission established by the State Government of Maharashtra	[Notification. No. 34/2020/F.No.300196/53/2019-ITA-I
4.	Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 (2 of 2020)	[Notification No.35 /2020/ F. No. 370142/23/2020-TPL
5.	the Central Government hereby notifies for the purposes of the said clause, ‘Real Estate Regulatory Authority’ as specified in the schedule to this notification	Notification No. 36/2020, F. No. 300196/38/2017-ITA-I

Compliance Requirement under Goods & Services Tax Act, (GST) 2017

R 3B Due Dates for May 2020

A. Taxpayers having aggregate turnover > Rs. 5 Cr. in preceding FY

Tax Period	Due Date	No Interest Payable Till	Interest payable @ 9% from & till	Interest payable @ 18% from
Feb'20	20th March, 2020	4th April, 2020	5th April to 24th June, 2020	25th June, 2020
Mar'20	20th April, 2020	5th May, 2020	6th May to 24th June, 2020	25th June, 2020
Apr'20	20th May, 2020	4th June, 2020	5th June to 24th June, 2020	25th June, 2020
May'20	27th June, 2020 (extended date for filing)	27th June, 2020	--	28th June, 2020

B. Taxpayers having aggregate turnover upto Rs. 5 crores in preceding FY (Group A)

Tax Period	Due Date	No Interest Payable Till	Interest payable @ 9% from & till	Interest payable @ 18% from
Feb'20	22nd March, 2020	30th June, 2020	1st July to 30th Sept., 2020	1st Oct., 2020
Mar'20	22nd April, 2020	3rd July, 2020	4th July to 30th Sept., 2020	1st Oct., 2020
Apr'20	22nd May, 2020	6th July, 2020	7th July to 30th Sept., 2020	1st Oct., 2020
May'20	12th July, 2020 (extended date for filing)	12th Sept., 2020	13th Sept to 30th Sept., 2020	1st Oct., 2020
Jun'20	22nd July, 2020	23rd Sept., 2020	24th Sept to 30th Sept., 2020	1st Oct., 2020
Group A States: Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana, Andhra Pradesh, Daman & Diu and Dadra & Nagar Haveli, Puducherry, Andaman and Nicobar Islands, Lakshadweep

C. Taxpayers having aggregate turnover upto Rs. 5 crores in preceding FY (Group B)

Tax Period	Due Date	No Interest Payable Till	Interest payable @ 9% from & till	Interest payable @ 18% from
Feb'20	24th March, 2020	30th June, 2020	1st July to 30th Sept., 2020	1st Oct., 2020
Mar'20	24th April, 2020	5th July, 2020	6th July to 30th Sept., 2020	1st Oct., 2020
Apr'20	24th May, 2020	9th July, 2020	10th July to 30th Sept., 2020	1st Oct., 2020
May'20	14th July, 2020 (extended date for filing)	15th Sept., 2020	16th Sept to 30th Sept., 2020	1st Oct., 2020
Jun'20	24th July, 2020	25th Sept., 2020	26th Sept to 30th Sept., 2020	1st Oct., 2020
Group B States: Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand, Odisha, Jammu and Kashmir, Ladakh, Chandigarh, Delhi

D. Late Fee Relief to Normal Taxpayers filing Form GSTR-3B

i) Taxpayers having aggregate turnover > Rs. 5 Cr. in preceding FY

Tax Period	Late fees waived if return filed on or before
Feb'20	24th June, 2020
Mar'20	24th June, 2020
Apr'20	24th June, 2020
May'20	27th June, 2020 (extended date for filing)

ii) Taxpayers having aggregate turnover upto Rs. 5 crores in preceding FY

Tax Period	Late fees waived if return filed on or before(For Group A States)**	Late fees waived if return filed on or before (For Group B States)*
Feb'20	30th June, 2020	30th June, 2020
Mar'20	3rd July, 2020	5th July, 2020
Apr'20	6th July, 2020	9th July, 2020
May'20	12th Sep., 2020	15th Sep., 2020
Jun'20	23rd Sep., 2020	25th Sep., 2020
Jul'20	27th Sep., 2020	29th Sep., 2020
States	Group A-Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana, Andhra Pradesh, Daman & Diu and Dadra & Nagar Haveli, Puducherry, Andaman and Nicobar Islands, Lakshadweep	Group B-Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand, Odisha, Jammu and Kashmir, Ladakh, Chandigarh, Delhi

Kindly note:

Taxpayers who are yet to file Form GSTR-3B for any month(s) from July, 2017 till Jan., 2020, can now file Form GSTR-3B from 1st July, 2020 till 30th Sept., 2020, without any late fee, for those months in which they did not have any tax liability. However, for the months they had a tax liability, their late fee is capped at Rs 500 per return.

iii) Late Fee Relief to Normal Taxpayers filing Form GSTR-1:

Tax Period	Due Date	Waiver of late fee if return filed on or before
Mar'20	11.04.2020	10.07.2020
Apr'20	11.05.2020	24.07.2020
May'20	11.06.2020	28.07.2020
Jun'20	11.07.2020	05.08.2020
Quarterly taxpayers Jan to March 2020	03.04.2020	17.07.2020
Quarterly taxpayers April to June 2020	31.07.2020	03.08.2020

Kindly note:

If the Form GSTR-3B and Form GSTR-1 for the period mentioned in Tables above is not filed by the notified dates, late fee will become payable from the due dates for these returns.

E. Compliances for Composition taxpayers

Form No.	Compliance Particulars	Due Date (New)
GST CMP-08	Registered person availing the benefit provided under Notification 2/2019 – Central Tax (Rate) shall be required to furnish details of self-assessed tax in Form GST CMP-08 for quarter ending March 2020	07.07.2020
GSTR-4	The yearly return for 2019-20 shall be required to be filed in Form GSTR 4 by the above persons	15.07.2020

F. Non Resident Tax Payers, ISD, TDS & TCS Taxpayers

- (for the month of March, April, May, June & July 2020)

Form No.	Compliance Particulars	Due Date	Due Date (New)
GSTR -5	Non-Resident Taxpayers	20th of succeeding month	31.08.2020
GSTR -6	Input Service Distributors	13th of succeeding month	31.08.2020
GSTR -7	Tax Deductors at Source (TDS Deductor)	10th of succeeding month	31.08.2020
GSTR -8	Tax Collectors at Source (TCS collectors)	10th of succeeding month	31.08.2020

Key UPDATE(s):

1. Filing NIL Form GSTR-3B through SMS on GST Portal

A taxpayer may now file NIL Form GSTR-3B, through an SMS, apart from filing it through online mode, on GST Portal. Taxpayer can file NIL Form GSTR-3B, through SMS for all GSTINs, for whom they are an Authorized Signatory, using same mobile number.

2. Relief in opting for Composition by Taxpayers, filing other Returns & EWB.

Due to COVID-19 pandemic and challenges faced by taxpayers, Government has extended dates for GST filings. These are notified in Central Tax Notifications 30, 34 & 35/2020 dated 03.04.2020 & 47/2020 dated 09.06.2020 & 55/2020 dated 27.06.2020.

GST UPDATES AS ON 30.06.2020:

Sl. No.	Notification(s)	Notification No.	Link(s)
1.	Seeks to bring into force Sections 118, 125, 129 & 130 of Finance Act, 2020 in order to bring amendment to Sections 2, 109, 168 & 172 of CGST Act w.e.f. 30.06.2020.	49/2020- Central Tax ,dt. 24-06-2020
2.	Seeks to make seventh amendment (2020) to CGST Rules.	50/2020- Central Tax ,dt. 24-06-2020
3.	Seeks to provide relief by lowering of interest rate for a prescribed time for tax periods from February, 2020 to July, 2020.	51/2020- Central Tax ,dt. 24-06-2020
4.	Seeks to provide one time amnesty by lowering/waiving of late fees for non furnishing of FORM GSTR-3B from July, 2017 to January, 2020 and also seeks to provide relief by conditional waiver of late fee for delay in furnishing returns in FORM GSTR-3B for tax periods of February, 2020 to July, 2020.	52/2020- Central Tax ,dt. 24-06-2020
5.	Seeks to provide relief by waiver of late fee for delay in furnishing outward statement in FORM GSTR-1 for tax periods for months from March, 2020 to June, 2020 for monthly filers and for quarters from January, 2020 to June, 2020 for quarterly filers	53/2020- Central Tax ,dt. 24-06-2020
6.	Seeks to extend due date for furnishing FORM GSTR-3B for supply made in the month of August, 2020 for taxpayers with annual turnover up to Rs. 5 crore.	54/2020- Central Tax ,dt. 24-06-2020
7.	Seeks to amend notification no. 35/2020-Central Tax in order to extend due date of compliance which falls during the period from "20.03.2020 to 30.08.2020" till 31.08.2020.	55/2020-Central Tax dated 27.06.2020
8.	Seeks to amend notification no. 46/2020-Central Tax in order to further extend period to pass order under Section 54(7) of CGST Act till 31.08.2020 or in some cases upto fifteen days thereafter.	56/2020-Central Tax dated 27.06.2020

3. Compliances under FEMA / RBI

Applicable Laws/Acts	Due Dates	Compliance Particulars	Forms / (Filing mode)
FEMA ACT 1999	July 15 every year	Annual Return on Foreign liabilities and assets The FLA return is required to be submitted by the companies who have received Foreign direct investment (FDI) and/or made Foreign direct investment abroad in the previous year(s) including the current year	FLA Return
FEMA ACT 1999	Monthly Basis	External Commercial Borrowings Borrowers are required to report all ECB transactions to the RBI on a monthly basis through an AD Category – I Bank in the form of ‘ECB 2 Return’.	ECB 2 Return
FEMA ACT 1999	Not later than 30 days from the date of issue of Capital instrument	FC-GPR is a form filed when the Indian company receives the Foreign Direct Investment and the company allots shares to a person resident outside India.	Form FC-GPR
FEMA ACT 1999	With in 60 days of receipt/ remittance of funds or transfer of capital instruments whichever is earlier.	Reporting of transfer of shares and other eligible securities between residents and non-residents and vice- versa is to be made in Form FC-TRS. The onus of reporting shall be on the resident transferor/ transferee.	Form FC-TRS.
FEMA ACT 1999	within 30 days from the date of receipt of the amount of consideration.	A Limited Liability Partnership receiving amount of consideration and acquisition of profit shares is required to submit a report in the Form FDI LLP-1	Form FDI LLP-I
FEMA ACT 1999	within 60 days from the date of receipt of funds in	A Limited liability Partnership shall report disinvestment/ transfer of capital contribution or profit share between a resident and a non resident (or vice versa)	Form FDI LLP-II
FEMA ACT 1999	within 30 days from the date of allotment of capital instruments	The domestic custodian shall report the issue/ transfer/ of sponsored/ unsponsored depository receipts	Downstream statement -Form DI

Due dates extened by RBI - LFAR for FY 2019-20:

1. RBI has extended the timeline for submission of Long Form Audit Report (LFAR) by the statutory auditors to the banks by one month and now, it can be submitted by July 31, 2020.

2. with respect to LFAR, all Certificates as per the Certification/Validation requirements for SCAs of scheduled commercial banks for FY 2019-20 can be submitted along with the LFAR by July 31, 2020.

4. Compliance under Other Statutory LAws

Applicable Laws/Acts	Due Dates	Compliance Particulars	Forms / (Filing mode)
EPF (The Employees’ Provident Funds And Miscellaneous Provisions Act, 1952)	15.07.2020	PF Payment for May 2020	ECR
ESIC (Employees' State Insurance Act, 1948)	15.07.2020	ESIC Payment(Feb & Mar)	ESI Challan
Contract Labour (Regulation &Abolition) Act, 1970	Within 15 Days of commencement/ completion of contract work	Return/Notice within 15 days of commencement/ completion of each contract by the Principal employer	Form VI-B
Contract Labour (Regulation &Abolition) Act, 1970	Within 15 Days of commencement/completion of contract work	Notice of commencement/ completion of contract work by the Contractor within 15 days	Form VI-A
Payment of Gratuity Rule	Within 30 Days of applicability of the Act & any change	Notice of applicability of the Act & any change	Form A or B

Key Update:

1. Pradhan Mantri Garib Kalyan Yojana: A Scheme to implement the PMGKY package for credit of employee’s & employer’s share of EPF & EPS contributions (24% of wages) for three months (March 2020 to May 2020) by Govt. of India.

2.EPFO operationalizes Pradhan Mantri Garib Kalyan Package for Low Wage Earning EPF Member and EPF covered Establishments with upto 100 Employees:

- Relief available for 6 months from March – August, 2020

- ECR with declaration to be filed to avail benefits of eligible employees and establishments.

- Eligible Establishments remitting for March, 2020 prior to PMGKY ECR Facility have to update Bank details in Form 5A to get re-imbursement.

3. ONLINE EPF TRANSFER PROCESS:

Employees' Provident Fund Organization (EPFO), India Ministry of Labour & Employment, Government of India has issued Instructions for transfer online EPF. In case of change of Job, it is important to switch EPF account from previous employer to the new employer. This whole transfer process has to be done to reduce overall tax liability from the balance accumulated in two separate accounts (Account with Previous and New Organization).