The Centre has extended some income tax deadlines on Saturday as a result of the extreme Covid-19 pandemic.
Due to the ongoing difficulties faced by taxpayers in meeting statutory compliances as a result of the COVID-19 outbreak, the government extended the deadlines for various compliances.
The Central Board of Direct Taxes (CBDT) has given the following relaxation in respect of taxpayer compliances in light of numerous representations obtained to alleviate the difficulties faced by various stakeholders:
- Appeals to the Commissioner (Appeals) under Chapter XX of the Act, with a filing deadline of 1st April 2021 or later, maybe filed within the period allowed under that Section or by 31st May 2021, whichever is later.
- Objections to the Dispute Resolution Panel (DRP) under Section 144C of the Act, with a deadline of 1st April 2021 or later, may be filed within the period allowed under that Section or by 31st May 2021, whichever is later.
- Income-tax returns in response to notices issued under Section 148 of the Act with a due date of 1st April 2021 or later may be filed within the period allowed by the notice or by 31st May 2021, whichever is later.
- The filing of a belated return under Section 139 of the Act, as well as a revised return under Section 139 of the Act, for the Assessment Year 2020-21, which was due on or before March 31, 2021, can now be done on or before May 31, 2021.
- Payment of tax deducted under Sections 194-IA, 194-IB, and 194M of the Act, as well as the filing of challan-cum-statement for such tax deducted, which are due by 30th April 2021(respectively) under Rule 30 of the Income-tax Rules, 1962, maybe paid and furnished on or before 31st May 2021.
- Form No. 61, which contains details of declarations received in Form No. 60 and is expected to be filed on or before April 30, 2021, maybe filed on or before May 31, 2021.
- The deadline for TDS enforcement by persons making payments in real estate transactions has been extended from April 30 to the end of May. This holds true for both remitting deducted taxes to the IRS and filing the proper tax statement. In property transactions, there is a 1% TDS requirement.
Govt extends timelines of certain compliances, to mitigate the difficulties faced by taxpayers due to the ongoing COVID-19 pandemic.— Income Tax India (@IncomeTaxIndia) May 1, 2021
CBDT issues Circular No. 08/2021 dated 30.04.2021 u/s 119 of the IT Act, 1961, available on: https://t.co/wmeNOwBRdD
Press release also issued. pic.twitter.com/oLhRrJYWzM
|Due Date||Extended Due Date|
|Appeals to the Commissioner||April 2021||31 May 2021|
|Dispute Resolution Panel||1st April 2021||31 May 2021|
|ITR Response||1st April 2021||31 May 2021|
|Belated Return||31 March 2021||31 May 2021|
|Payment of tax deducted||30 April 2021||31 May 2021|
|Form No. 60||30 April 2021||31 May 2021|
|TDS Compliance||30 April 2021||31 May 2021|
According to the CBDT announcement, these relaxations are the latest in a series of government measures aimed at making enforcement easier for taxpayers and providing relief during these trying times. The CBDT said it had received many requests for extensions of time from taxpayers, contractors, and other stakeholders across the region.