CBDT Extends timelines for Compliances.

   CBDT Extends timelines for Compliances

 

Covid 19 has been a disaster for many and people from all walks of life have been impacted. At the same time, there have been enough support that has been provided to the people to recover from this pandemic, one such type is the support for medical treatments that was provided by several. In order to ensure that no income tax liability arises on this account, the tax authorities have decided to provide income-tax exemption to the amount received by a taxpayer for medical treatment from employer or from any person for treatment of Covid-19 during FY 2019-20 and subsequent years.

Additionally In order to provide relief to the family members of such taxpayer, it has been decided to provide income-tax exemption to ex-gratia payment received by family members of a person from the employer of such person or from other person on the death of the person on account of Covid-19 during FY 2019-20 and subsequent years. The exemption shall be allowed without any limit for the amount received from the employer and the exemption shall be limited to Rs. 10 lakh in aggregate for the amount received from any other persons.

 

CBDT Extended timelines
Compliance Type	Extended Due date
Statement of deduction of Tax for Q4 of FY 2020-21	15th July 2021
Equalization Levy statement in form 1 for FY 2020-21	31st July 2021
Quaterly statement for Quarter ending 30th June 2021 in form 15 CC	31st July 2021
TDS Certificate - Form 16	31st July 2021
Uploading of declaration in Form 15G and Form 15H for Quarter ending 30th June 2021	31st August 2021
Last date of payment under VSV  - Without Additional Amount - With Additional Amount	31st August 2021 31st October 2021
Linkage of Aadhar with PAN	30th September 2021
Time limit for Passing Assessment Order	30th September 2021
Time limit for Passing Penalty Order	30th September 2021

 

Further notifications released by the CBDT are as follows:

1. Objections to Dispute Resolution Panel (DRP) and Assessing Officer under section 144C of the Income-tax Act, 1961 (hereinafter referred to as “the Act”) for which the last date of filing under that section is 1st June, 2021 or thereafter, may be filed within the time provided in that section or by 31st August, 2021, whichever is later.
2. The Statement of Deduction of Tax for the last quarter of the Financial Year 2020-21, required to be furnished on or before 31st May, 2021 under Rule 31A of the Income-tax Rules,1962 (hereinafter referred to as “the Rules”), as extended to 30th June, 2021 vide Circular No.9 of 2021, may be furnished on or before 15th July, 2021.
3. The Certificate of Tax Deducted at Source in Form No.16, required to be furnished to the employee by 15th June, 2021 under Rule 31 of the Rules, as extended to 15th July, 2021 vide Circular No.9 of 2021, may be furnished on or before 31st July, 2021.
4. The Statement of Income paid or credited by an investment fund to its unit holder in Form No. 64D for the Previous Year 2020-21, required to be furnished on or before 15th June, 2021 under Rule 12CB of the Rules, as extended to 30th June, 2021 vide Circular No.9 of 2021, may be furnished on or before 15th July, 2021.
5. The Statement of Income paid or credited by an investment fund to its unit holder in Form No. 64C for the Previous Year 2020-21, required to be furnished on or before 30th June, 2021 under Rule 12CB of the Rules, as extended to 15th July, 2021 vide Circular No.9 of 2021, may be furnished on or before 31st July, 2021.
6. The application under Section 10(23C), 12AB, 35(1)(ii)/(iia)/(iii) and 80G of the Act in Form No. 10A/ Form No.10AB, for registration/ provisional registration/ intimation/ approval/ provisional approval of Trusts/ Institutions/ Research Associations etc., required to be made on or before 30th June, 2021, may be made on or before 31st August, 2021.
7. The compliances to be made by the taxpayers such as investment, deposit, payment, acquisition, purchase, construction or such other action, by whatever name called, for the purpose of claiming any exemption under the provisions contained in Section 54 to 54GB of the Act, for which the last date of such compliance falls between 1st April, 2021 to 29th September, 2021 (both days inclusive), may be completed on or before 30th September, 2021.

Most of the other notifications have been covered in the table given above.