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Income Tax Return: Important Due Dates In June For Taxpayers

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In the midst of the COVID-19 pandemic's current phase, the government stated earlier this month that the deadline for filing income tax returns (ITR) for the fiscal year 2020-21 would be extended by two months, until September 30. The Central Board of Direct Taxes (CBDT) also postponed the deadlines for several tax compliance under the Income-Tax Act of 1961 in order to give respite to taxpayers. According to the official circular, the final deadline to file a TDS return (tax deducted at source) is June 30, 2021. The following are crucial dates according to the Income Tax Department that taxpayers should keep in mind for some tax compliance due this month - June 2021:

 

Income Tax Return: Important Due Dates In June For Taxpayers

June 7 2021: Deposit of tax deducted/collected for the month of May 2021 is due on this date. All amount deducted/collected by a government office, however, must be paid to the Central Government's credit on the same day when tax is paid without the issuance of an Income-tax Challan.

June 14 2021: The deadline for the issuance of TDS certificate for tax deducted under Section 194-IA, Section 194-IB and Section 194M in the month of April 2021.

June 15 2021

  • The due date for submitting Form 24G by a government office where TDS/TCS has been paid without the issuance of a challan for the month of May 2021. Circular number. 9/2021, dated 20-05-2021, extended the deadline for submitting Form 24G for the month of May 2021 from June 15, 2021 to June 30, 2021.
  • Issuance of quarterly TDS certificates (in respect of tax deducted for non-salary payments) for the fiscal quarter ending March 31, 2021.
  • The first advance tax installment date for the fiscal year 2022-23.
  • Employees will get a certificate of tax deducted at source for salary paid and tax deducted during the Fiscal Year 2020-21. The final deadline for issuance of TDS certificates in respect of tax deducted from salary received during Fiscal Year 2020-21 has been extended from June 15, 2021 to July 15, 2021 under Circular No. 9/2021, dated 20-05-2021.
  • Deadline for a stock exchange to provide a statement in Form No. 3BB in respect of transactions in which client codes were amended after registration in the system for the month of May 2021.
  • Submitting a statement (in Form No. 64D) of income received or credited to a unit holder by an investment fund for the fiscal year 2020-21. Circular no. 9/2021, dated 20-05-2021, extended the deadline for filing Form 64D statement from June 15, 2021 to June 30, 2021.
 

June 29, 2021: Due date for an eligible investment fund to e-file a statement (in Form No. 3CEK) under section 9A in terms of its activities in the financial year 2020-21.

June 30, 2021

  • The deadline for submitting a challan-cum-statement for tax deducted under Section 194-IA, Section 194-IB and Section 194M in the month of May 20, 2021.
  • The due date for submitting a return for the financial year 2020-21 in respect of securities transaction tax.
  • The due date for filing a quarterly return of a banking company's non-deduction of tax at source from interest earned on time deposit for the quarter ending March 31, 2021.
  • Alternative Investment Fund (AIF) will provide a statement (in Form No. 64C) to unit holders regarding income distributed during the previous financial year 2020-21. The deadline for submitting Form 64C statements has been extended from June 30, 2021 to July 15, 2021 under Circular No. 9/2021, dated 20-05-2021.
  • Section 35AC(4)/(5) declaration by an authorised institution/public sector company for the fiscal year ending March 31, 2021.
  • Deadline for providing a statement of income given to unit holders by a business trust for the financial year 2020-21. This declaration must be made by the unit holders in form No. 64B.
  • The deadline for linking an Aadhaar number to a PAN. The deadline for linking an Aadhaar number to a PAN has been pushed up from March 31, 2021 to June 30, 2021, according to Notification S.O. 1432(E) dated March 31, 2021.
  • Filing of tax under the Direct Tax Vivad se Vishwas Act, 2020 is free of charge. The deadline for paying income tax under the Direct Tax Vivad se Vishwas Act, 2020, without penalty has been extended to June 30, 2021 under Notification S.O. 1704 (E), issued on April 27, 2021.
  • Deadline for submitting Form 24G by a government office where TDS/TCS for the month of May 2021 was paid without the issuance of a challan. Circular number. 9/2021, dated 20-05-2021, extended the deadline for submitting Form 24G for the month of May 2021 from June 15, 2021 to June 30, 2021.
  • The deadline for submitting the quarterly TDS statement for the quarter ending March 31, 2021. This date has been pushed up from May 31, 2021 to June 30, 2021, according to Circular No. 9/2021, dated 20-05-2021.
  • Deadline for submitting a statement of financial transactions (in Form No. 61A) as required by sub-section (1) of Section 285BA of the Income Tax Act for the fiscal year 2020-21. Circular number. 9/2021, issued 20-05-2021, extended the deadline for submitting financial transaction statement for the financial year 2020-21 from May 31, 2021 to June 30, 2021.
  • Deadline for reporting financial institutions to e-file annual statement of reportable accounts required under section 285BA(1)(k) (in Form No. 61B) for the calendar year 2020. Circular number. 9/2021, dated 20-05-2021, extended the deadline for submitting a statement of reportable accounts for the calendar year 2020 from May 31, 2021 to June 30, 2021.
  • Filing return of a tax deduction for contributions made by the trustees of an authorized superannuation fund. Circular number. 9/2021, dated 20-05-2021, has extended the deadline for filing tax deduction returns from May 31, 2021 to June 30, 2021.
  • Submitting a declaration (in Form No. 64D) of income received or credited to a unit holder by an investment fund for the previous financial year 2020-21. Circular no. 9/2021, dated 20-05-2021, has extended the deadline for filing Form 64D declaration from June 15, 2021 to June 30, 2021.

Note

The Income Tax Department announced on its official Twitter account yesterday that the income tax e-filing portal 2.0 (incometax.gov.in) would include an all-new mobile app. According to a report by PTI, the Income Tax Department has stated that the new portal will be simple to use on smartphones and that details on pre-filed income tax records, ITR Form, and Saral Income Tax facilities would be available on the platform. The new e-filing platform will be introduced on June 7, 2021, according to the IT Department's tweet. On the official website of the Income Tax Department, the benefits of the new e-filing portal 2.0 are also listed. To learn more about the benefits, click here.

Read more about: income tax return itr tax taxpayers
Story first published: Friday, June 4, 2021, 16:01 [IST]
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