New timelines given by IT Department | Fusion - WeRIndia

New timelines given by IT Department

New timelines given by IT Department

As India is combating the second wave of COVID-19, the Income Tax Department extended the deadline for various things.

Here is a list of new or extended deadlines for taxpayers by the IT department:

The Income Tax Department extended the deadline for filing a belated or revised return under Section 139 of the Act, for the Assessment Year 2020-21 to May 31, 2021. Earlier, it was March 31. Hence, taxpayers, who wanted to file their revised or belated returns, can proceed before the said deadline.

Payment of TDS and submission of challans under different sections like 194-IA, 194-IB, and 194M of the Income-tax Act, 1961 has also been extended to May 31. The past date was April 30.

Submission of statement in Form No. 61 has been extended to May 31, which was due on April 30.

The IT department also extended the due date to file ITR to a notice under Section 148 of the IT Act to May 31. Earlier it was April 1st.

The due date for filing appeals to the Commissioner (Appeals) under Chapter XX of the IT Act has also been extended to May 31. Actually, appeals have to be filed by the latest of the stipulated period mentioned in that section or by May 31.

Besides, the central government decided to extend the deadline for paying the amount due under the Direct Tax Vivad se Vishwas Act, 2020, to June 30, 2021, with certain conditions. Earlier, the time frame was given till April 30. That means those who applied to settle their tax disputes under this scheme shall have to pay the settled tax amount before the due date, i.e. by April 30. But, now, it has been extended to June 30. The government extended the deadline multiple times for this scheme so that citizens can avail the scheme and settle their tax payments.

Image by Steve Buissinne from Pixabay (Free for commercial use)

Image Reference:

Leave a Reply

Your email address will not be published. Required fields are marked *