Extension of Timelines New vs Old Dates
Extension of Timelines New vs Old Dates, as amended after the notification issued by CBDT in this regard on 25th June 2021.
| Compliance | Before extension notification dated 25th June 2021 | After extension notification dated 25th June 2021 |
| Objections to Dispute Resolution Panel (DRP) and Assessing Officer under section 144C | 1st June, 2021 | 31st August 2021 |
| TDS Return for the last quarter of the Financial Year 2020-21 | 30th June 2021 | 15th July 2021. |
| The Certificate of Tax Deducted at Source in Form No.16 | 15th July, 2021 | 31st July 2021. |
| 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. | 30the June, 2021 | 15th July, 2021. |
| 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. | 15the July, 2021 | 31st July, 2021 |
| 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. | 30th June, 2021 | 31st August, 2021 |
| The Quarterly Statement in Form No. 15CC to be furnished by authorized dealer in respect of remittances made for the quarter ending on 30th June, 2021. | 15th July, 2021 | 31st July, 2021 |
| The Equalization Levy Statement in Form No. 1 for the Financial Year 2020-21. | 30th June, 2021 | 31st July, 2021 |
| The Annual Statement required to be furnished under sub-section (5) of section 9A of the Act by the eligible investment fund in Form No. 3CEK for the Financial Year 2020-21. | 29th June, 2021 | 31st July, 2021 |
| Uploading of the declarations in Form No. 15G/15H during the quarter ending 30th June, 2021. | 15th July, 2021 | 31st August,2021 |
| Option to withdraw pending application (filed before the erstwhile Income Tax Settlement Commission) in Form No. 34BB. | 27th June, 2021 | 31st July, 2021 |
| Last date of linkage of Aadhaar with PAN under section 139AA. | 30th June, 2021 | 30th September, 2021 |
| Last date of payment of amount under Vivad se Vishwas (without additional amount). | 30th June, 2021 | 31st August, 2021 |
| Last date of payment of amount under Vivad se Vishwas (with additional amount). | – | 31st October, 2021. |
| Time Limit for passing assessment order. | 30th June, 2021 | 30th September, 2021 |
| Time Limit for passing penalty order | 30th June, 2021 | 30th September, 2021 |
| Time Limit for processing Equalisation Levy returns | 30th June, 2021 | 30th September, 2021 |
Note:
- 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 1 st April, 2021 to 29th September, 2021 (both days inclusive), may be completed on or before 30th September, 2021.
- Tax exemption
I. Many taxpayers have received financial help from their employers and well-wishers for meeting their expenses incurred for treatment of Covid-19. In order to ensure that no income tax liability arises on this account, it has been 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.
II. Unfortunately, certain taxpayers have lost their life due to Covid-19. Employers and well-wishers of such taxpayers had extended financial assistance to their family members so that they could cope with the difficulties arisen due to the sudden loss of the earning member of their family. 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.
Relevant Notifications:
- Extension of compliance under Income-tax, notification dated 25th June, 2021
- Extension of timeline under Direct Tax Vivad se Vishwas Act, 2020- Notification
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