CBDT Grants Further Extension in Timeliness of Compliances: Dated 25-06-2021


 CBDT Grants Further Extension in Timeliness of Compliances: Circular No 12/2021

On consideration of genuine hardship faced by the taxpayers in making various compliances under the Income Tax Act, 1961, the CBDT has provided certain relaxations via Notifications nos. 74/2021 & 75/2021 dated 25th June 2021 Circular no. 12/2021 dated 25th June 2021 in respect of the following Compliances:

👉Income tax Exemption on Financial help received from Employer or any Other person for Covid-Treatment:

  • If Received by Employee: Amount received by a taxpayer for medical treatment from an employer or from any person for treatment of COVID-19 during FY 2019-20 and subsequent years are FULLY EXEMPT. 
  • If Received by the legal heir of Employee (in case of death): Ex-gratia payment received by family members of a person from the employer of such person or from another person on the death of the person on account of COVID-19 during FY 2019-20 and subsequent years are EXEMPT without any limit for the amount received from the employer and the exemption shall be limited to Rs. 10 lakh in aggregate for the amount received from any other persons.

👉 The TDS return for the last quarter of the Financial year 2020-21 is further extended to 15th July 2021.

👉The last date of linkage of Aadhaar with PAN is now extended to 30th September 2021.
👉The last date of payment of an amount under Vivad se Vishwas(without additional amount) is extended to 31st August 2021.

👉The last date of payment of the amount under Vivad se Vishwas (with additional amount) has been notified as 31st October 2021.

👉  Now Form 16 can be furnished to the Employees till 31st July 2021

👉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 can be furnished till 15th July 2021.

👉 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

👉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 can be furnished till 31st July 2021. 

👉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.

👉Objections to Dispute Resolution Panel (DRP) and Assessing Officer under section 144C 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.

👉The Annual Statement required to be furnished under sub-section (5) of section 9A  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

👉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, may be uploaded by 31st August 2021.

👉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

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