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Extension of Timelines Related to Certain Compliances under the Income Tax Act 1961

In light of the adverse circumstances arising on account of the COVID-19 pandemic and considering several requests made by taxpayers, tax consultants, and other stakeholders from across the country that various compliance dates may be relaxed, CBDT vide circular 08/2021 dated 30-Apr-2021 has provided certain relaxations in the below compliance timelines-

Sl. No.

Particulars

Previous due date

Extended due date

1.

Appeal to Commissioner (Appeals) under Chapter XX of the IT Act, 1961.

On or after 1st April 2021

31st May 2021 or original due date whichever is later

 

2.

Filing of objections to Dispute Resolution Panel (DRP) u/s 144C of the IT Act, 1961.

On or after 1st April 2021

31st May 2021 or original due date whichever is later

 

3.

Filing of return of income u/s 148.

On or after 1st April 2021

31st May 2021 or original due date whichever is later

 

4.

Filing of belated return u/s 139(4) & revised return u/s 139(5).

 

31st March 2021

31st May 2021

5.

Payment of TDS u/s 194IA, 194IB & 194M and filing of challan-cum statement for such tax deducted.

 

30th April 2021

31st May 2021

6.

Filing of Form 61.

 

30th April 2021.

31st May 2021

 

In other words, CBDT relaxed the timelines for the below compliance-

  1. Appeal to Commissioner (Appeals) under Chapter XX of the Income-tax Act, 1961 for which the last date of filing under that Section is on or after 1st April 2021, may be filed within the time provided under that Section or by 31st May 2021, whichever is later.
  2. Objections to Dispute Resolution Panel (DRP) under Section 144C of the Income-tax Act, 1961, 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.
  3. In case taxpayer has been served with a notice under Section 148 of the Income Tax Act, 1961 and for which the last date of filing of return of income under the said notice is 1st April 2021 or thereafter, then they may be filed within the time allowed under the said notice or 31st May 2021, whichever is later.
  4. Belated return under sub-section (4) and revised return under sub-section (5) of Section 139 of the Income Tax Act, 1961 for the Assessment Year 2020-21 which was required to be filed on or before 31st March 2021 has been extended to 31st May 2021.
  5. Payment of TDS under Section 194IA (Payment on transfer of immovable property), Section 194IB (TDS on payment of personal rent) and Section 194M (TDS on payment to resident contractors and professionals) of the Income Tax Act, 1961 and filing of challan-cum statement for such tax deducted which are required to be paid or furnished by 30th April 2021, may be paid or furnished by 31st May 2021.
  6. An individual who receives income solely from agriculture is required to file Form 61.

Form 60 is a document to be filed by an individual or any other person (not company or firm) to carry out financial transactions that mandates quoting of PAN when

  1. Concerned person does not have a PAN i.e., not applied for
  2. The concerned person has applied for PAN but the allotment is pending

Form 60 is acceptable only in the case of scenario (b) in case the total income of a person exceeds the maximum amount that is not taxable in the year transaction. 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, maybe furnished on or before 31st May 2021.

 

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