Certain Income Tax Timelines extended amidst COVID 19 wave

EXTENSION OF CERTAIN TIME LINES IN IT ACT, 1961- Circular No. 08/2021 dated 30-04-2021

Out of the current scenario due to pandemic, CBDT has extended the following time lines:

 No.

Matter

Compliance last date

Extended date

Comment

a.

Appeal to Commissioner (Appeals)

01-04-2021 or thereafter

31-05-2021

As per Income Tax Act, 1961 the appeal before commissioner (appeals) has to be filed within 30 days from the receipt of the order.

However, if the said 30 days is expiring on or after 01-04-2021, it can be filed up-to 31-05-2021.

However, if the period of 30 days is expiring after 31-05-2021, the same can be filed within the said 30 days only.

b.

Filing of objection to Dispute Resolution Panel (DRP) under Section 144C

01-04-2021 or thereafter

31-05-2021

As per section 144C of the Income Tax Act, 1961 objection can be filed before Dispute Resolution Panel within 30 days from the receipt of the order.

However, if the said 30 days is expiring on or after 01-04-2021, it can be filed up-to 31-05-2021.

However, if the period of 30 days is expiring after 31-05-2021, the same can be filed within the said 30 days only.

c.

Furnishing of Income Tax Return for notice u/s 148

01-04-2021 or thereafter

31-05-2021

Time limit for filing return of income in response to notice of reassessment of income under section 148 is as per the time provided in the notice.

However, if the time limit is expiring on or after 01-04-2021, it can be filed up-to 31-05-2021.

d.

1. Belated Income Tax Return- section 139(4) for F.Y. 2019-20,

2. Revised Income Tax Return- section 139(5) for F.Y. 2019-20

31-03-2021

31-05-2021

As per the Income Tax act, 1961, belated and revised return can be filed only till the end of relevant assessment year.

Example- For F.Y. 2019-20 it could be made only till 31-03-2021.

However, the said date has been extended up-to 31-05-2021.

Therefore, if a person has not filed income tax return for F.Y. 2019-20 or wants to revise the return for F.Y. 2019-20, the window is still open to do that till 31-05-2021.

e.

1. Payment of TDS on sale of immovable property- Section 194-IA

2.Payment of  TDS on Rent y individual or HUF-Section 194-IB

3. Payment of TDS on payment of amount exceeding Rs. 50 lacs by individual or HUF- Section 194M

30-04-2021

31-05-2021

If any TDS is deducted on these transactions and the due date of payment such TDS to the govt. along with furnishing of challan for its payment and statement is 30-04-2021.

The last date of such payment and furnishing of challan and statement has been extended to 31-05-2021.

f.

Statement in Form 61

30-04-2021

31-05-2021

Any person not having PAN enters into transaction referred to in Rule 114B like opening of DEMAT account, purchase or sale of motor vehicle other than 2 wheeler, etc., has to give declaration in Form No. 60.

The person receiving such declarations in Form 60 has to submit the particulars in Form No. 61. The due date for submitting such Form 61 of declaration received in Form 60 in the period 01-10-2020 to 31-03-2021 is 30-04-2021.

But now it has been extended to 31-05-2021.

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