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Income Tax Compliance Deadlines Extended Amid New COVID-19 Wave

Belated earnings tax returns can now be filed earlier than Might 31, 2021

To be able to present reduction to taxpayers amid the second wave of COVID-19 within the nation, the federal government has prolonged numerous Revenue Tax compliance deadlines, below the Revenue Tax Act 1961. In a round issued on Saturday, Might 1, the Central Board of Direct Taxes or CBDT, acknowledged that below its powers below Part 119 of the Revenue-tax Act, 1961, the organisation has offered sure relaxations with respect to Revenue-Tax compliances by taxpayers. (Additionally Learn: How To File Revenue Tax Returns On-line )

In line with the Revenue Tax Division (I-T), the assorted compliances as a part of the notification, are as follows:

  • The submitting of the belated earnings tax return below sub-section (4) and revised return below sub-section (5) of Part 139 of the Revenue-tax Act,1961, for the evaluation yr 2020-21, which was required to be filed on or earlier than March 31, 2021, can now be filed on or earlier than Might 31, 2021
  • The attraction to Commissioner (Appeals) below Chapter XX of the Revenue-tax Act, 1961, for which the final date of submitting below that Part was April 1, 2021, can be filed inside the time interval below the part by Might 31, 2021
  • The objections to the Dispute Decision Panel (DRP) below Part 144C of the Revenue-tax Act, 1961, for which the final date of submitting below that Part was April 1, 2021, can be filed inside the time offered below the part or by Might 31, 2021.
  • The income-tax return in response to note below Part 148 of the Revenue-tax Act, 1961, for which the final date of submitting of return of earnings was April 1, 2021, can be filed inside the time allowed discover by Might 31, 2021
  • The cost of the tax deducted below Part 194-IA, Part 194-IB and Part 194M of the Revenue-tax Act, 1961, and the submitting of the challan-cum-statement for such tax deducted, which was required to be paid by April 30, 2021, can now be paid on or earlier than 31″ Might 2021.
  • Lastly, the assertion in Kind quantity 61, containing the particulars of declarations acquired in Kind quantity 60, which was required to be furnished by April 30, 2021, can now be furnished on or earlier than Might 31, 2021.

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