COVID -19 related reliefs provided by the Central Board of Direct Taxes (CBDT)

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In view of the ongoing COVID-19 pandemic prevailing across the country, the CBDT vide its Circular 12/2021 dated 25.06.2021 announced a few exemptions and extensions to various tax compliance timelines as below:

1. Tax Exemptions

  • Any amount received for the medical treatment of COVID-19 by an employee from its organization or from any of their well wishers during or after the FY 2019-20 will not be liable to tax either in the hands of employee or employer or the well wisher. 
  • Any amount received from the employer by the family members during or after the FY 2019-20 after the death of the employee due to COVID-19 will not be liable to tax. 
  • Any amount received from any well wisher by the family members during or after the FY 2019-20 after the death of the person suffering from COVID-19 to the extent of Rs. 10 lakhs will not be liable to tax.
2. New compliance due dates

  • The TDS certificate in Form 16 may be furnished or or before the 31st day of July 2021.
  • Declarations in 15G/ 15H may be uploaded by the 31st August 2021.
  • The date for linking the Aadhar and PAN has been extended to 30th September 2021.
  • The last date for using the scheme of Vivad se Vishwas without any additional amount has been extended to 31st August 2021.
  • The last date for using the scheme of Vivad se Vishwas with additional amount has been extended to 31st October 2021.
  • Any compliances for the purpose of claiming exemption under section 54 to 54GB may be made by the 30th day of September 2021.
  • The last date to file objections to the Dispute Resolution Panel and the Assessing Officer under section 144C of the Act is being extended to 31st August 2021.
  • The statement of deduction of tax for the 4th quarter of FY 20-21 may be furnished on or before the 15th day of July 2021.
  • The statement of income paid or credited to the investor by the investment fund in form 64D may be given by the 15th day of July 2021.
  • The statement of income paid or credited to the investor by the investment fund in form 64C may be given by the 31st day of July 2021.
  • Any sort of registration/ intimation/ approval of the Trusts/ Institutions/ Research Associations may be made by the 31st day of August 2021.
  • Quarterly statement in form 15CC may be made by the 31st day of July 2021.
  • The Equalization Levy statement for the FY 20-21 may be furnished by the 31st day of July 2021.
  • The option of withdrawing the application made before the Income Tax Settlement Commission may be made by the 31st day of July 2021.
  • Time limit for passing the assessment order has been further extended to 30th September 2021.
  • Time limit for passing the penalty order has been further extended to 30th September 2021.
  • The time limit for processing the equalization levy returns has been extended to 30th September 2021. 
Moreover, in the Circular 9/2021 dated 20.05.2021, the CBDT announced the extension of dates to file various Income Tax returns for the FY 2020-21 as below:
  • For regular tax payers who are liable to file their returns by the 31st day of July 2021, the date has been extended to 30th September 2021.
  • The due dates to file the returns by audit assessees has been extended to 30th November 2021 from 31st October 2021.
  • The due dates to file the belated returns has been extended to 31st January 2022 from December 31st 2021.
  • The due date to file the transfer pricing study report has been extended to 31st December 2021. 
Disclaimer: These are just a basic idea of the circulars. However, the applicability may depend on case to case basis.. 

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