In the wake of severe Covid-19 pandemic in the country, the Central Board of Direct Taxes (CBDT) has decided to extend timelines of various tax compliance on Saturday. “In view of the adverse circumstances arising due to the severe Covid-19 pandemic and also in view of the several requests received from taxpayers, tax consultants & other stakeholders from across the country, requesting that various compliance dates may be relaxed, the Government has extended certain timelines today,” the ministry of finance said in a statement.
The move is aimed at mitigating “the difficulties being faced by various stakeholders,” it further added. The “relaxations are the latest among the recent initiatives taken by the government to ease compliances to be made by the taxpayers with the aim to grant respite during these difficult times,” it mentioned in a notification.
1) Individuals can file Appeal to Commissioner (Appeals) under Chapter XX of the Income Tax Act within “the time provided under that Section or by 31st May, 2021, whichever is later,” CBDT said. The last date of filing under that Section was set at April 1, 2021.
2) “Objections to Dispute Resolution Panel (DRP) under Section 144C of the Act, for which the last date of filing under that Section is April 1, 2021 or thereafter, may be filed within the time provided under that Section or by May 31, 2021, whichever is later,” the ministry added.
3) Income-tax return in response to notice under Section 148 of the Act may be filed within the time allowed under that notice or by May 31, 2021, it said.
4) The filing of belated return under sub-section (4) and revised return under sub-section (5) of Section 139 of the Income Tax Act, for Assessment Year 2020-21, which was required to be filed on or before 31st March, 2021, may be filed on or before May 31, 2021, CBDT said in a statement.
5) “Payment of tax deducted under Section 194-IA, Section 194-IB and Section 194M of the Act, and filing of challan-cum-statement for such tax deducted, which are required to be paid and furnished by April 30, 2021(respectively) under Rule 30 of the Income-tax Rules, 1962, may be paid and furnished on or before May 31, 2021,” the notification stated.
6) “Statement in Form No. 61, containing particulars of declarations received in Form No.60, which is due to be furnished on or before 30th April, 2021, may be furnished on or before May 31, 2021,” it also said.
Read all the Latest News and Breaking News here
Goods And Services Tax (GST) Collections At Rs 1.41 Lakh Crore In April 2021, Highest-Ever Since Launch Of GST 