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Extensions of Timelines by India’s Income Tax Authority Due to the Pandemic

In view of the impact of the severe pandemic and spike in COVID-19 cases, Indian taxpayers are facing an inconvenience in meeting deadlines for certain tax compliance and in filing responses to various notices. The Government of India has provided further relaxations and exemptions to ease the compliance burden of taxpayers during this difficult time on the Taxation front via Circular No.12 dated June 25,2021, Notification No. 74/2021 & 75/2021 dated June 25, 2021.

Tax Exemption Receipts:

  1. Amounts received by a taxpayer from an employer or any other person for COVID-related medical expenditures are tax exempt.
  2. Voluntary payments received by the family of a deceased employee from the employer are exempt without limit. Receipts from any other person shall be exempt up to Rs. 10 lakhs (US$1,340) in aggregate.

Extension of Due Dates:

Return Type Tax Period Original Due Date Extended due Date(Vide Circular No. 9, Date May 20, 2021) Extended due Date (Vide Circular No. 12, Date June 25, 2021)
Filing of Objections to DRP or Assessing Officer u/s 144C  June 1, 2021 Within time provided or August 31, 2021, whichever is later
The Statement of Deduction of Tax (TDS/TCS Return) Q4 of FY 2020-21  May 31, 2021 June 30, 2021 July 15, 2021
Issuance of TDS Certificates in Form 16 FY 2020-21 June 15, 2021 July 15, 2021 July 31, 2021
Application in Form No. 10A/ Form No.10AB, for registration/ provisional registration of Trust June 30, 2021 August 31, 2021
Quarterly Statement in Form No. 15CC Q1 of FY 2021-22  July 15, 2021 July 31, 2021
Equalization Levy Statement in Form No. 1 FY 2020-21 June 30, 2021 July 31, 2021
Annual Statement required to be furnished by the eligible investment fund in Form No. 3CEK FY 2020-21 June 29, 2021 July 31, 2021
Uploading of the declarations received from recipients in Form No. 15G/15H Q1 of FY 2021-22 July 15, 2021 August 31, 2021
Exercising of option to withdraw pending application in Form No. 34BB  June 27, 2021 July 31, 2021
Last date of linkage of Aadhaar with PAN June 30, 2021 September 30, 2021
Last date of payment of amount under Vivad se Vishwas Without additional amount June 30,  2021 1st August 31, 2021
Last date of payment of amount under Vivad se Vishwas With additional amount October 31, 2021
Time Limit for passing assessment order June 30, 2021 September 30, 2021
Time Limit for passing penalty order June 30, 2021 September 30, 2021
Time Limit for processing Equalization Levy returns June 30, 2021 September 30, 2021
Compliances to be made by the taxpayers such as investment, deposit, acquisition, construction etc., for the purpose of claiming exemption under the provisions contained in Section 54 to 54GB Last date falls between April 1, 2021 and September 29, 2021 September30, 2021
Statement of Income paid or credited by an investment fund to its unit holder in Form No 64D FY 2020-21 June 15, 2021 June 30, 2021 July 15, 2021
Statement of Income paid or credited by an investment fund to its unit holder in Form No 64C FY 2020-21 June 30, 2021 July 15, 2021 July 31, 2021

Key Takeaway

The extension of these due dates will ease the compliance burden for Indian taxpayers to some extent. It is important for Indian taxpayers to keep track of these filing dates to avoid penalties related to missed deadlines.

Please contact a Withum International Tax Team member to help address your further questions.

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