Monday, July 27, 2020

What is the due date for furnishing of TDS statement for Q1 of Financial Year 2020-21?

As the prescribed due date for furnishing of TDS statement for the Quarter 1 of the Financial Year 2020-21 is around the corner, that is, July 31, 2020, there is a chaos to know about the applicable due date. Whether it will be the original due date of 31-07-2020 as per Rule 31A or 31-03-2021, the due date extended for all compliances (falling between 20-03-2020 to 31-12-2020) by the Notification No. 35/2020, dated 24-06-2020. We have tried to solve this controversy in this write-up

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AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

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