A major update and relaxation for taxpayers as CBDT extends due dates for electronic filing of various forms. In other words, considering the problems faced by taxpayers, the Indian government has given a major relaxation for fulfilling compliances under Income-Tax Act, 1961. In this article, we will understand the latest update by CBDT in detail.
CBDT extends due dates for electronic filing of various forms
The Department of Income Tax announced the launch of a new income tax website on June 7, 2021, with the goal of improving taxpayer’s experience and functionality. A few days after the debut, however, it began to produce a number of problems.
Therefore, The taxpayers and stakeholders from all the parts of the nation reported several issues and difficulties faced by them while filing various forms.
Considering this, The Central Board of Direct Taxes (CBDT) has extended the due dates for electronic filing of various forms under the Income-tax Act, 1961.
Due Date Deadline Extension for filing of Various forms
In a Notification dated 3rd August 2021, the CBDT has extended the due date for filing the forms as mentioned below.
- 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, required to be furnished on or before 15th July 2021 under Rule 37BB of the Rules, as extended to 31’t Ju1Y,2021 vide Circular No.12 of 2021 dated 25.06.2021, may be filed on or before 31st August 2021.
- The Equalization Levy Statement in Form No.1 for the Financial Year 2020- 21, which was required to be filed on or before 30th June 2021, as extended to 31 st July 2021 vide Circular No.12 of 2021 dated 25.06.2021, may be filed on or before 31st August 2021.
- Similarly, 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, required to be furnished on or before 15th June 2021 under Rule 12CB of the Rules, as extended to 15th Ju1Y,2021 vide Circular No.12 of 2021 dated 25.06.2021, maybe furnished on or before 15th September 2021.
- The Statement of Income paid or credited by an investment fund to its unit holder in Form No. 64C for the Previous Year 2020-21, required to be furnished on or before 30th June 2021 under Rule 12CB of the Rules, as extended to 31st July 2021 vide Circular No. 12 of 2021 dated 25.06.2021, maybe furnished on or before 30th September 2021.
Circular No. 12- Income Tax due date extended amid COVID19
Further Clarification by CBDT
Considering that certain Forms cannot be filed electronically due to the non-availability of utility, the CBDT has decided to extend the deadlines for filing them electronically. These forms are mentioned below.
- Intimation to be made by a Pension Fund in respect of each investment made by it in India in Form No. 10BBB for the quarter ending on 30th June 2021, required to be furnished on or before 31st Ju1Y,2021 under Rule 2DB of the Rules, may be furnished on or before 30th September 2021.
- Intimation to be made by Sovereign Wealth Fund in respect of investments made by it in India in Form II SWF for the quarter ending on 30th June 2021, required to be furnished on or before 31st Ju1Y,2021 as per Circular No.15 of 2020 dated 22.07.2020, maybe furnished on or before 30th September 2021.
Moreover, if you want any other guidance concerning ITR Filing, please feel free to talk to our business advisors at 8881-069-069.
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