IT Department extends compliance dates – The Hindu BusinessLine

Clipped from: https://www.thehindubusinessline.com/news/it-department-extended-compliance-dates/article34456604.ece

Must file returns on or before May 31

Income Tax Department on Saturday eased the compliance by extending certain due dates.

The payment of tax deducted under Section 194-IA, Section 194-IB and Section 194M of the Act and the filing of challan-cum-statement for such tax deducted, which are required to be paid and furnished by April 30 (respectively), may be paid and furnished on or before May 31.

Income-tax return, in response to notice under Section 148 of the Act, for which the last date of filing of return of income under the said notice is April 1 or thereafter, may be filed within the time allowed under that notice or by May 31, whichever is later.

Appeal to commissioner can be filed within the time provided or May 31, which is ever later. Earlier, last date was April 1. Objections to Dispute Resolution Panel (DRP) under Section 144C of the Act, for which the last date of filing under that Section is April 1 or thereafter, may be filed within the time provided under that Section or by May 31, whichever is later.

Statement in Form Number 61, containing particulars of declarations received in Form Number 60, which is due to be furnished on or before April 30, may be furnished on or before May 31.

“In view of the adverse circumstances arising due to the severe Covid-19 pandemic and also in view of the several requests received from taxpayers, tax consultants & other stakeholders from across the country, requesting that various compliance dates may be relaxed, the Government has extended certain timelines,” a statement issued by the Finance Ministry said.

Commenting on the latest move, Shailesh Kumar, Partner, Nangia & Co LLP said that considering the impact of Covid, the Government has given relaxation to Income taxpayers for various compliances till May 31. Even the timeline for filing belated/ revised ITR for FY 2019-20, which expired on March 31, has been revived and now taxpayers will be able to e-file their ITRs or revise the same by May 31

“These relaxations will give much required relief to the taxpayers in making the compliances. However, if the situation of Covid does not improve in next 2 weeks, the Government may need to extend these timelines further, considering that large number of families are suffering under Covid presently,” he said.

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