Extended out Income Tax Timelines because of Covid-19 second wave

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The Income Tax office recently extended out specific times to ease down the citizens in the amid of Covid-19 second wave. The Tax Department has likewise broadened the scheme of events for Income Tax Returns (ITR) petitioning for FY 2019-2020.

Here’s a full rundown of new courses of events citizens should know

New Income Tax Return, TDS installment, and late ITR due dates amid Covid-19 second wave. Extended out Income Tax Timelines because of Covid-19 second wave: The Income Tax Division of extended out a specific course of events to dial down the weight citizens amid Covid-19 second wave.

Income tax return form, TDS

Representative picture

Extended out Income Tax Timelines because of Covid-19 second wave: The Income Tax division of late extended out specific timetables to dial down the weight citizens amid Covid-19 second wave. The Tax Department has additionally broadened the schedule for Income Tax Returns (ITR) petitioning for FY 2019-2020. Presently, a year ago ITR can document by May 31st.

TDS installment under Section 194-IA, Section 194-IB, and Section 194M of the Income-charge Act, 1961 and documenting of challan-cum-proclamation for such duty deducted, which are needed to be paid and outfitted by 30th April 2021, should now be possible and outfit at the latest 31st May 2021.

Income Tax Return in response to notice under Section 148

The ITR because of notice under Section 148 of the Income-charge Act, for which the last date of documenting first April 2021 or from there on, may now be recorded inside the time permitted under that notification or by 31st May 2021, whichever is later, the CBDT said.

Vivad se Vishwas scheme

It possesses been to conclude that the energy for the installment of the sum payable under the Direct Tax Vivad se Vishwas Act, 2020, without an extra sum, will be additionally extended out to 30th June 2021.

Duty orders notice

The Central Government has extended out time cutoff points to 30th June 2021 in the accompanying situations were as far as possible was before reached out to 30th, April 2021: For the death of any request for evaluation or reassessment under the Income-charge Act, 1961  called ‘the Act’ as far as possible for which given under area 153 or segment 153B

As far as possible for passing a request resulting to the course of DRP under subsection (13) of area 144C of the Act,As far as possible for issuance of notice under area 148 of the Act, for returning the evaluation where pay has gotten away from appraisal.Time Limit for sending implication of preparing of Equalization Levy under sub-segment (1) of area 168 of the Finance Act 2016.

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