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CBDT CLARIFICATION ABOUT DUE DATE FOR TDS AND IT RETURNS FOR A.Y. 2019-20.

CBDT has issued a notification today further extending few of the time limits of compliances under Taxation & Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 as under: 👉 Due date for filing Income Tax Return for F.Y 2018-19 has been extended to 31st July, 2020 👉 Waiver of interest u/s 234A in cases where self assessment tax is upto Rs 1 lac 👉 Deductions under Ch-VIA like Sec 80C, 80D, 80G, etc can now be made upto 31st July, 2020 👉The date for furnishing of TDS/TCS statements for the quarter ending on 31st March, 2020 has been extended to 31st July, 2020.
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Key Highlights of Union Budget - 2022 - Read what our Finance Minister said on Budget

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Outline of Transfer Pricing Assessment Proceedings

  The sequence of a commonplace exchange evaluating continuing is as per the following:  (A) Filing of the Income-Tax Return by an Assessee  (B) Reference made by the Assessing Officer ('AO') to the Transfer Pricing Officer ('TPO')  (C) Transfer estimating procedures led by the TPO and passing of the TP request.  (D) AO passes draft appraisal request ('DAO') fusing the increments proposed by the TPO  (E) Within 30 days of receipt of the DAO, the Assessee has the alternative of drawing nearer either Commissioner of Income-charge – Appeals ('CIT(A)') or the Dispute Resolution Panel ('DRP')  - If no insinuation is gotten inside 30 days by the Assessee, the AO would give the Final Assessment Order.  - on the off chance that the Assessee has approach the DRP against the increments proposed in the DAO, the Final Assessment Order must be passed by the AO in the wake of getting bearings from the DRP.  - Against the FAO, the Assessee may go for addit...
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