CBDT extends various time limits for compliances under Income Tax
The CBDT vide Circular No 9 of 2021 dated 20 May 2021 extended the time limits of certain compliances under the Income Tax to provide relief to taxpayers in view of the severe pandemic. The relaxation provided by the CBDT have been summarized hereunder:
|
Sr. No. |
Compliance |
Period |
Due Date |
Extended due date |
|
1 |
Statement of Financial Transactions (SFT) |
F.Y. 2020-21 |
31-May-21 |
30-Jun-21 |
|
2 |
Statement of Reportable Account |
Calander Year 2020 |
31-May-21 |
30-Jun-21 |
|
3 |
Statement of Deduction of Tax |
Last Qtr of F.Y. 2020-21 |
31-May-21 |
30-Jun-21 |
|
4 |
TDS Certificate in Form 16 |
|
15-Jun-21 |
15-Jul-21 |
|
5 |
TDS/TCS Book Adjustment Statement |
May-21 |
15-Jun-21 |
30-Jun-21 |
|
6 |
Statement of Deduction of Tax from contributions paid by the trustees of an approved superannuation fund |
F.Y. 2020-21 |
31-May-21 |
30-Jun-21 |
|
7 |
Statement of Income paid or credited by an investment fund to its unit holder in Form 64D |
P.Y. 2020-21 |
15-Jun-21 |
30-Jun-21 |
|
8 |
Statement of Income paid or credited by an investment fund to its unit holder in Form 64C |
P.Y. 2020-21 |
30-Jun-21 |
15-Jul-21 |
|
9 |
Income Tax Return - Individuals |
A.Y. 2021-22 |
31-Jul-21 |
30-Sep-21 |
|
10 |
Audit Report |
P.Y. 2020-21 |
30-Sep-21 |
31-Oct-21 |
|
11 |
Report from an Accountant by persons entering into an international transaction or specified domestic transaction |
P.Y. 2020-21 |
31-Oct-21 |
30-Nov-21 |
|
12 |
Income Tax Return - Tax Audit applicable assessees |
A.Y. 2021-22 |
31-Oct-21 |
30-Nov-21 |
|
13 |
Income Tax Return - TP applicable assessees |
A.Y. 2021-22 |
30-Nov-21 |
31-Dec-21 |
|
14 |
Belated / revised Income Tax Return |
A.Y. 2021-22 |
31-Dec-21 |
31-Jan-22 |
It has been clarified that in case of an individual resident in India, the tax paid by him under section 140A of the Act within the due date (without extension under this Circular) provided in that Act, shall be deemed to be the advance tax.
Disclaimer:
The information provided in this update is intended for informational purposes only and does not constitute legal opinion or advice. Readers are requested to seek formal legal advice prior to acting upon any of the information provided herein. This update is not intended to address the circumstances of any particular individual or corporate body. There can be no assurance that the judicial/ quasi judicial authorities may not take a position contrary to the views mentioned hereinrra quis.
