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If you are worried about meeting the Income tax deadlines, then the government has offered some relief to taxpayers amid the second wave of coronavirus by extending various Income Tax compliance deadlines, under the Income Tax Act 1961. In a circular issued on Saturday, the Central Board of Direct Taxes or CBDT, mentioned that under under Section 119 of the Income-tax Act, 1961, the organisation has provided certain relaxations with respect to Income-Tax compliances by taxpayers.
The relaxation comes after multiple representations were received to deal with the difficulties being faced by various stakeholders.
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“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 Central Board of Direct Taxes (CBDT) has went on to offer these relaxation with regard to compliances by the taxpayers:
-Individuals can file Appeal to Commissioner (Appeals) under Chapter XX of the Income Tax Act within “the time provided under that Section or by May 31, 2021, whichever is later,” CBDT said. The last date of filing under that Section was earlier set at April 1, 2021.
-Objections to Dispute Resolution Panel (DRP) under Section 144C of the Act, for which the last date of filing under that Section is 1st April, 2021 or thereafter, may be filed within the time provided under that Section or by 31st May, 2021, 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 1st April, 2021 or thereafter, may be filed within the time allowed under that notice or by 31st May, 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 31st March, 2021, may be filed on or before 31st May, 2021;
-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 31st May, 2021.
Earlier, the finance ministry earlier had relaxed the timeline for payments under the Direct Tax Vivad se Vishwas Act, 2020 (without an additional amount) till June 30, 2021. Launched in 2020, the Direct Tax ‘Vivad se Vishwas’ Act is aimed at reducing pending income tax litigation, generate timely revenue for the government.
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