: Govt grants further extension in timelines of IT compliances #finance #StockMarketNEWS Govt grants further extension in timelines of I-T compliances New Delhi, Jun 26 (KNN) In the wake of the impact

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Govt grants further extension in timelines of IT compliances #finance #StockMarketNEWS
Govt grants further extension in timelines of I-T compliances New Delhi, Jun 26 (KNN) In the wake of the impact of the COVID-19 pandemic, the government has further extended deadlines for various income tax compliances.

In view of the impact of the COVID-19 pandemic, taxpayers are facing inconvenience in meeting certain tax compliances and also in filing responses to various notices. In order to ease compliances to be made by taxpayers during this difficult time, reliefs are being provided through Notifications nos. 74/2021 & 75/2021 dated 25th June, 2021 Circular no. 12/2021 dated 25th June, 2021, an official statement said on Friday.

The income tax department that the payment deadline for Vivad Se Vishwas direct tax dispute resolution scheme has been extended by two months till August 31.

Taxpayers can make payments till October 31 with additional amount of interest while the last date for PAN-Aadhaar linking too has been extended by three months to September 30, 2021.

The deadline for employers to furnish Tax Deducted at Source (TDS) certificate in Form 16 to employees too has been extended till July 31, from July 15, 2021.

  --  The other reliefs are as follows:

Objections to Dispute Resolution Panel (DRP) and Assessing Officer under section 144C of the Income-tax Act, 1961 (hereinafter referred to as “the Act”) for which the last date of filing under that section is 1st June, 2021 or thereafter, may be filed within the time provided in that section or by 31st August, 2021, whichever is later.

The Statement of Deduction of Tax for the last quarter of the Financial Year 2020-21, required to be furnished on or before 31st May, 2021 under Rule 31A of the Income-tax Rules,1962 (hereinafter referred to as “the Rules”), as extended to 30th June, 2021 vide Circular No. 9 of 2021, may be furnished on or before 15th 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, required to be furnished on or before 15th June, 2021 under Rule 12CB of the Rules, as extended to 30th June, 2021 vide Circular No. 9 of 2021, may be furnished on or before 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, required to be furnished on or before 30th June, 2021 under Rule 12CB of the Rules, as extended to 15th July, 2021 vide Circular No. 9 of 2021, may be furnished on or before 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.

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