The Board of Direct Taxes (Income Tax Department) vide circular No. 09/2021, (F. NO.225/49/2021-ITA-1I dated 20.05.2021, in exercise of its power under section 119 of the Income-tax Act, 1961 (hereinafter referred to as “the Act”) has issued circular w.r.t. Extension of time limits of certain compliances to provide relief to taxpayers in view of the severe pandemic and spike in Covid-19 cases:
Extension due date Table
|Sr No||Nature of Extension||Original due date||New Due Dates|
|1||Statement of Financial Transact ions u/s 285BA (SFT)||31.05.2021||30.06.2021|
|2||Statement of Reportable Account under Rule 114G||31.05.2021||30.06.2021|
|3||Statement of Tax deduction at source for the quarter ending 3151 March 2021||31.05.2021||30.06.2021|
|4||Issue of TDS certificates in Form 16 for the Financial Year 2020-
|5||TDS/TCS Book adjustment statement in Form 24G for the
month of May 2021
|6||Statement of Deduction of Tax in the case of superannuation fund for FY 2021||31.05.2021||30.06.2021|
|7||Statement of Income paid or credited by an investment fund to its unit’s holder in Form 64D for FY 2021||15.06.2021||30.06.2021|
|8||Statement of Income paid or credited by an investment fund to its unit’s holder in Form 64C for FY 2021||30.06.2021||15.07.2021|
|9||Income Tax Returns – Normal assessee without audits – FY 2021||31.07.2021||30.09.2021|
|10||Filing of Audit Reports viz. Tax Audit Reports, Form 67 etc. – FY 2021||30.09.2021||31.10.2021|
|11||Due date of Furnishing Report from Accountant in respect of International Transactions covered u/s 92E||31.10.2021||30.11.2021|
|12||Corporate assessee or Firm covered whose accounts required to be audited or Partner of Firm whose accounts are required to be audited or any assessee other than Corporate and Firm whose accounts are required to be audited||31.10.2021||30.11.2021|
|13||Assessee required to furnish return u/s 92E in respect of international Transactions||30.11.2021||31.12.2021|
|14||Belated Returns and Revised Returns||31.12.2021||31.01.2022|
Kindly Note that: Note: all above extensions is planned in view of New ITD portal to be launched from June 7,,2021.
- Clarifications by CBDT:
- Non – Applicability: the extension of the dates as referred to in clauses (9), (12) and (13) above shall not apply to Explanation 1 to section 234A of the Act, in cases where the amount of tax on the total income as reduced by the amount as specified in clauses (i) to (vi) of sub-section (1) of that section exceeds one lakh rupees.
- For the purpose of Clarification 1, in case of an individual resident in India referred to in sub-section (2) of section 207 of the Act, 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.
- Source: Click Here
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Author: Lalit Rajput (Company Secretary)