To ease compliances to be made by taxpayers during the Covid-19 pandemic, CBDT has extended the date of meeting certain tax compliances. Relief has also been given in filing the response to various notices.
During the pandemic period, the government has given many concessions and extensions related to income tax compliances. CBDT, Ministry of Finance through Notifications nos. 74/2021 & 75/2021 dated 25th June 2021 Circular no. 12/2021 dated 25th June 2021, has granted further extension in timelines of compliances.
Some of the compliance timelines extended by The CBDT (Central Board of Direct Taxes) are mentioned below :
- Filing of TDS Statement: The Statement of TDS for quarter four of the Financial Year 2020-21, required to be furnished on or before 30th June 2021 may be furnished on or before 15th July 2021.
- Issuing TDS Certificate: Form No.16, issued by an employer to the employee required to be furnished on or before 15th June 2021 may be furnished to the employee on or before 31st July 2021.
- Form No. 15G/15H: Uploading of the declarations received in Form No. 15G/15H during the quarter ending 30th June 2021, required to be uploaded on or before 15th July 2021, maybe uploaded on or before 31st August 2021.
- Linkage of Aadhaar with PAN: The CBDT (Central Board of Direct Taxes) has extended the last date of linkage of Aadhaar with PAN to 30th September 2021.
- Foreign Remittance Statement: Quarterly filing of the foreign remittance statement to be furnished by an authorized dealer (AD) in respect of foreign remittances made for the quarter ending on 30th June 2021, required to be furnished on or before 15th July 2021, maybe furnished on or before 31st July 2021.
- Submission of Equalization Levy Form: Equalization Levy Statement in Form No. 1 for the Financial Year 2020-21, required to be filed on or before 30th June 2021, maybe furnished on or before 31st July 2021.
- Processing of Equalization Levy Return: The time Limit for processing Equalisation Levy returns has been extended to 30th September 2021.
- Payment of amount under Vivad se Vishwas: The last date of payment under Vivad se Vishwas (without additional amount) which was earlier extended to 30th June 2021 is further extended to 31st August 2021.
To check the complete list of timelines extended by CBDT, Click here
The tweet from the official handle of the Income Tax India:
Govt announces tax exemption for expenditure incurred on Covid treatment &ex-gratia amount recd on death due to Covid.— Income Tax India (@IncomeTaxIndia) June 25, 2021
Granting further relief in difficult Covid times, dates of several compliances extended vide Notification Nos 74/2021 & 75/2021 &Circular No 12/2021 dt25.06.2021 pic.twitter.com/MzMgpcM8Lj
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