Breather for taxpayers as Centre extends timelines of certain compliances amid COVID crisis | Details here
New Delhi | Jagran Business Desk: Giving a huge relief to lakhs of people of the salaried class, the Ministry of Finance on Saturday extended the timelines of certain compliances till May 31 in wake of the alarming spike in coronavirus cases across the country.
In a statement, the central government said that the decision to extend the timelines has been taken to ease compliances to be made by the taxpayers to grant respite amid the devastating second wave of COVID-19.
Following are the relaxation that the central government has provided in wake of the COVID-19 crisis:
* Appeal to Commissioner (Appeals) under Chapter XX 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.
* 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 or thereafter, may be filed within the time provided under that Section or by May 31, whichever is later.
* Income-tax return in response to notice under Section 148 of the Act, for which the last date of filing of return of income under the said notice is April 1, 2021 or thereafter, may be filed within the time allowed under that notice or by May 31, 2021, whichever is later.
* Filing of belated return under sub-section (4) and revised return under sub-section (5) of Section 139 of the Act, for Assessment Year 2020-21, which was required to be filed on or before March 31, may be filed on or before May 31.
* 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, maybe paid and furnished on or before May 31, 2021.
* Statement in Form No. 61, containing particulars of declarations received in Form No.60, which is due to be furnished on or before April 30, maybe furnished on or before May 31.
Posted By: Aalok Sensharma