Quarterly return option: eligible small taxpayers may file quarterly but must pay tax monthly under specified conditions. Notification allows registered persons below the specified aggregate turnover threshold who opt under rule 61A to furnish returns quarterly and pay tax monthly from January 2021, subject to conditions: the preceding month's return must be filed when exercising the option; the option survives for future periods unless revised; crossing the turnover threshold in a quarter disqualifies quarterly filing from the succeeding quarter. Deemed options for certain classes based on October 2020 filings are specified, and an electronic portal window is provided to change the default option within prescribed dates.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Quarterly return option: eligible small taxpayers may file quarterly but must pay tax monthly under specified conditions.
Notification allows registered persons below the specified aggregate turnover threshold who opt under rule 61A to furnish returns quarterly and pay tax monthly from January 2021, subject to conditions: the preceding month's return must be filed when exercising the option; the option survives for future periods unless revised; crossing the turnover threshold in a quarter disqualifies quarterly filing from the succeeding quarter. Deemed options for certain classes based on October 2020 filings are specified, and an electronic portal window is provided to change the default option within prescribed dates.
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