On Saturday, government in a statement informed that in the light of the prevailing coronavirus disease (Covid-19) situation, timelines for certain compliances have been extended after receiving requests from taxpayers, tax consultants and other stakeholders across India.
Following relaxations have been made under the provisions of section 119 of the Income Tax (I-T) Act, 1961 in the terms of deadlines of compliance dates:
1. Appeal to the Commission (Complaints) under Chapter ** of the Act, the deadline for submission under this Section is 1 April 2021 or later, which may be lodged within the period provided for under this Section or 31 May 2021, or later.
2. To appeal to the Dispute Resolution Panel (DRP) under Section 144C of the Act, the deadline for submission under this Section is 1 April 2021 or thereafter, may be lodged within the period provided for under this Section or 31 May 2021, or later.
3. Income tax return in response to a notice under Section 148 of the Act, where the deadline for lodging a refund under this notice is 1 April 2021 or later, which may be lodged within the period allowed under this notice or 31st May 2021, or later.
4. Completion of the refund transferred under subsection (4) and the revised reversal under subsection (5) of Section 139 of the Act, of the Examination Year 2020-21, which had to be lodged before or before 31 March 2021, may now be lodged before or before 31 May 2021.
5. Payment of taxes deducted under Section 194-IA, Section 194-IB, and Section 194M of the Act, and the completion of a challan – *** – statement of that taxable tax, required to be paid and paid on 30 April 2021 (respectively) under Act 30 of the Income Tax Act, 1962, can now be paid and paid on or before 31 May 2021.
6. Statement on Form No. 61, containing the details of the announcements obtained on Form No. 60, which must be delivered on or before 30 April 2021, can now be sent on or before 31 May 2021.
Big Tax Relief
Central Board of Direct Taxes (CBDT) in the official order has undertaken these tax-related relaxations in order to ease compliances to be completed by the taxpayers and also to reduce the hassle and difficulties faced by various stakeholders in these difficult times marked by the coronavirus disease (Covid-19) pandemic.