In view of the COVID-19 pandemic, the Government of India had announced several important relief measures on tax and regulatory front through the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 (the Ordinance)1. The Ordinance, inter-alia, provided for extension of various deadlines prescribed in the Income-tax Act, 1961 (the IT Act). Subsequently, the Central Board of Direct Taxes (CBDT) has been issuing notifications2 to extend the deadlines.
With the second wave of COVID-19 grappling the nation and lockdowns being announced in several States, various taxpayers are facing hardship to meet the deadlines. Taking cognisance of the hardships faced by the taxpayers, the CBDT has issued notifications3 to further extend the deadline which were expiring on 30 April 2021. We, at BDO in India, have analysed and summarised the said notifications hereunder:
|
Particulars |
Erstwhile due date |
Extended due date |
Further extended due date as per notification |
|
Issue of notice under section 148 of the IT Act (i.e. reassessment notice) |
31 March 2021 |
30 April 2021 |
30 June 2021 |
|
Passing of assessment/reassessment order under the IT Act under section 153 and section 153B of the IT Act |
31 March 2021 |
30 April 2021 |
30 June 2021 |
|
Passing of consequential order for direction issued by Dispute Resolution Panel under section 144C(13) of the IT Act (i.e. passing of final order by the Tax Officer) |
31 March 2021 |
30 April 2021 |
30 June 2021 |
|
Processing of Equalisaton Levy statements under section 168(1) of the Finance Act, 2016 |
31 March 2021 |
30 April 2021 |
30 June 2021 |
|
Payment of amount determined under Direct Tax Vivad se Vishwas Act (i.e. without any additional amount) |
31 March 2021 |
30 April 2021 |
30 June 2021 |
BDO Comments
With the second wave of COVID-19 raging unabated across the country, the extension will bring a relief to taxpayers as responding to notices/preparing appeals/making payments could pose a challenge with the increasing COVID-19 numbers and lockdowns being imposed by several states.
1“Subsequently made the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020- No 38 0f 2020, dated 25 September 2020
2Notification No. 35/2020/F. No. 370142/23/2020-TPL, dated 24 June 2020- Refer our tax alert- https://www.bdo.in/en-gb/insights/alerts-updates/tax-alert-cbdt-further-extends-various-deadlines
Notification No. 93/2020, dated 31 December 2020- Refer our tax alert- https://www.bdo.in/en-gb/insights/alerts-updates/direct-tax-alert-cbdt-further-extends-the-deadline-for-filing-of-tax-return;-furnishing-of-tax-audi
Notification No. 20/2021/F. No. 370142/35/2020-TPL, dated 31 March 2021
3Notification No. 38/2020/F. No. 370142/35/2020-TPL, dated 27 April 2021
Notification No. 39/2020/F. No. IT(A)/01/2020-TPL, dated 27 April 2021
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