CBDT on account of genuine hardship being faced by taxpayers in making various compliances under the Income Tax Act (‘the Act’) in view of severe Covid-19, eases the compliance burden of taxpayers by providing relaxations in respect of the following compliances vide Press Release & Circular No. 12 of 2021 dated 25th June 2021.
|S. No||Nature of Compliance||Original Due Date||Due Date (past extensions)||Extended Due Date|
|1.||Objections before DRP u/s 144C of the Act||Last date of filing is 1st June 2021 or thereafter||NA||31st August 2021|
|2.||TDS return for Q4 of FY 2020-21||31st May 2021||30th June 2021||15th July 2021|
|3.||Issuance of Form 16 TDS certificates||15th June 2021||15th July 2021||31st July 2021|
|4.||Statement of income paid or credited in case of investment fund (Form No. 64D) for FY 2020-21||
15th June 2021
30th June 2021
15th July 2021
|5.||Statement of income paid or credited in case of investment fund (Form No. 64C) for FY 2020-21||30th June 2021||15th July 2021||31st July 2021|
|6.||Form 10A or Form 10AB for registration / provisional registration / intimation / approval / provisional approval of Trusts / Institutions / Research Associations etc.||30th June 2021||NA||31st August 2021|
|7.||Compliance for the purpose of claiming any exemption under the provisions contained in Section 54 to 54GB of the Act
|Between 1st April 2021 to 29th September 2021||NA||30th September 2021|
|8.||Quarterly Statement in Form No. 15CC in respect of remittances made for the Q 1 of FY 2021-22, 2021 (Rule 37BB)
|15th July 2021||NA||31st July 2021|
|9.||Equalization Levy Statement in Form No. 1 for the FY 2020-21
|30th June 2021||NA||31st July 2021|
|10.||Annual Statement in Form 3CEK furnished u/s 9A(5) of the Act by eligible investment fund
|29th June 2021||NA||31st July 2021|
|11.||Uploading of the declarations received from recipients in Form No. 15G/15H during Q 1 for FY 2021-22
|15th July 2021||NA||31st August 2021|
|12.||Option to withdraw pending application filed before erstwhile ITSC u/s 245M(1) of the Act [Form No. 34BB]||27th June 2021||NA||31st July 2021|
|13.||Linking of Aadhaar with PAN under section 139AA of the Act||31st March 2021 (as extended from time to time)||30th June 2021||30th September 2021|
|14.||Payment of amount under Vivad se Vishwas (without additional amount)
|31st March 2020||30th June 2021||31st August 2021|
|15.||Payment of amount under Vivad se Vishwas (with additional amount)
|NA||1st July 2021||1st September 2021|
|16.||Last date u/s 2(1)(l) of DTVSV Act||NA||NA||31st October 2021|
|17.||Time Limit for passing any order for assessment or reassessment for which time limit has been specified u/s 153 or 153B||30th September 2020||30th June 2021||30th September 2021|
|18.||Time Limit for passing penalty order
|Between 20th March 2020 to 29th June 2021||30th June 2021||30th September 2021|
|19.||Time Limit for processing Equalisation Levy returns||30th April 2021||30th June 2021||30th September 2021|
Further, CBDT has also announced tax exemption for expenditure on COVID-19 treatment and ex-gratia received on death due to COVID-19:
- 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.
- Income-tax exemption to whole of ex-gratia payment received by family members, on death of a person, from the employer of such person.
- Income-tax exemption up to INR 10 lakhs of ex-gratia payment received by family members, on death of a person, from a anyone other than employer of such person.
Necessary legislative amendments for the above decisions shall be proposed in due course of time.
(For detailed understanding, please refer Press Release dated 25th June 2021 and CBDT Circular 12 /2021 dated 25th June 2021)
PDF version is attached : https://www.dpncindia.com/blog/wp-content/uploads/2021/06/CBDT-extends-certain-timelines-announces-Exemptions-for-Covid-19-expenditure-ex-gratia-1.pdf
The information contained herein is in summary form based on interpretation of Press Release dated 25th June 2021 and CBDT Circular No. 12/2021 dated 25th June 2021. While the information is believed to be accurate to the best of our knowledge, we do not make any representations or warranties, express or implied, as to the accuracy or completeness of this information. Reader should conduct and rely upon their own examination and analysis and are advised to seek their own professional advice. This document is not an offer, invitation, advice or solicitation of any kind. We accept no responsibility for any errors it may contain, whether caused by negligence or otherwise or for any loss, howsoever caused or sustained, by the person who relies upon it.