Central Govt provides further relief to taxpayers during these difficult Covid times by extending timelines of certain compliances. Here is a quick look at the list of compliances that have been extended by CBDT Circular No. 12/2021 Dated 25 June 2021, Notification Nos. 74/2021 & 75/2021.
Circular No. 12/2021 Dated 25 June 2021 Income Tax Department CBDT
1) 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.
2) 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, maybe furnished on or before 15th July 2021.
3) The Certificate of Tax Deducted at Source in Form No.16, required to be furnished to the employee by 15th June 2021 under Rule 31 of the Rules, as extended to 15th July 2021 vide Circular No.9 of 2021, maybe furnished on or before 31st July 2021.
4) 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, maybe furnished on or before 15th July 2021.
5) 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, maybe furnished on or before 31st July 2021.
6) 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., required to be made on or before 30th June, 2021, may be made on or before 31st August, 2021.
7) 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 1st April 2021 to 29th September 2021 (both days inclusive), may be completed on or before 30th September 2021.
8) The Quarterly Statement in Form No. 15CC to be furnished by an authorized dealer in respect of remittances made for the quarter ending on 30th June 2021, required to be furnished on or before 15th July 2021 under Rule 37 BB of the Rules, may be furnished on or before 31st July 2021.
9) The Equalization Levy Statement in Form No. 1 for the Financial Year 2020-21, which is required to be filed on or before 30th June 2021, may be furnished on or before 31st July 2021.
Investment Plan-
10) 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, which is required to be filed on or before 29th June 2021, may be furnished on or before 31st July 2021.
11) Uploading of the declarations received from recipients in Form No. 15G/15H during the quarter ending 30th June 2021, which is required to be uploaded on or before 15th July 2021, maybe uploaded by 31st August 2021.
12) Exercising of option to withdraw pending application (filed before the erstwhile Income Tax Settlement Commission) under sub-section (1) of Section 245M of the Act in Form No. 34BB, which is required to be exercised on or before 27th June 2021, may be exercised on or before 31st July 2021.
13) The last date of linkage of Aadhaar with PAN under section 139AA of the Act, which was earlier extended to 30th June 2021 is further extended to 30th September 2021.
14) The last date of payment of the amount under Vivad se Vishwas (without additional amount) which was earlier extended to 30th June 2021 is further extended to 31st August 2021.
15) The last date of payment of the amount under Vivad se Vishwas (with additional amount) has been notified as 31st October 2021.
16) Time Limit for passing assessment order which was earlier extended to 30th June 2021 is further extended to 30th September 2021.
17) Time Limit for passing a penalty order which was earlier extended to 30th June 2021 is further extended to 30th September 2021.
18) Time Limit for processing Equalisation Levy returns which was earlier extended to 30th June 2021 is further extended to 30th September 2021.
Other Circulars of 2021
| Circular No. | Date | Details |
|---|---|---|
| Circular No. 17/2021 | 09 September 2021 | Article |
| Circular No. 16/2021 | 29 August 2021 | Article |
| Circular No. 15/2021 | 03 August 2021 | Article |
| Circular No. 14/2021 | 02 July 2021 | Article |
| Circular No. 13/2021 | 30 June 2021 | Article |
| Circular No. 12/2021 | 25 June 2021 | Article |
| Circular No. 11/2021 | 21 June 2021 | Article |
| Circular No. 10/2021 | 25 May 2021 | Article |
| Circular No. 09/2021 | 20 May 2021 | Article |
| Circular No. 08/2021 | 30 April 2021 | Article |
| Circular No. 07/2021 | 26 March 2021 | Download Here |
| Circular No. 06/2021 | 26 March 2021 | Download Here |
| Circular No. 05/2021 | 25 March 2021 | Download Here |
| Circular No. 04/2021 | 23 March 2021 | Download Here |
| Circular No. 03/2021 | 04 March 2021 | Download Here |
| Circular No. 02/2021 | 03 March 2021 | Download Here |
| Circular No. 01/2021 | 15 January 2021 | Download Here |
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Disclaimer: The information contained in the above article are solely for informational purpose after exercising due care. However, it does not constitute professional advice or a formal recommendation. The author does not own any responsibility for any loss or damage caused to any person, directly or indirectly, for any action taken on the basis of the above article.
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Compiled by- CA Chirag Agarwal (Practicing Chartered Accountants)