Government of India

Department of Revenue

Ministry of Finance

Central Board of Direct Taxes

New Delhi, 20th May, 2021

PRESS RELEASE

Government extends certain timelines in light of severe pandemic

            The Central Government, in continuation of its commitment to address the hardship being faced by various stakeholders on account of the severe Covid-19 pandemic, has, on consideration of representations received from various stakeholders, decided  to  extend timelines for compliances under the Income-tax Act, 1961 (hereinafter referred to as “the Act”) in the following cases, as under:

1. The Statement of Financial Transactions(SFT) for the Financial Year 2020-21, required to be furnished on or before 31^st  May, 2021 under Rule 114E of the Income-tax Rules, 1962 (hereinafter referred to as “the Rules”) and various notifications issued thereunder, may be furnished on or before 30^th June, 2021;

2. The Statement of Reportable Account for the calendar year 2020, required to be furnished on or before 31^st May, 2021 under Rule 114G of the Rules, may be furnished on or before 30^th June, 2021;

3. The Statement of Deduction of Tax for the last quarter of the Financial Year 2020-21, required to be furnished on or before 31^st May, 2021 under Rule 31A of the Rules, may be furnished on or before 30^th June, 2021;

4. The Certificate of Tax Deducted at Source in Form No 16, required to be furnished to the employee by 15^th June, 2021 under Rule 31 of the Rules, may be furnished on or before 15^th July, 2021;

5. The TDS/TCS Book Adjustment Statement in Form No 24Gfor the month of May 2021, required to be furnished on or before 15^th June, 2021 under Rule 30 and Rule 37CA of the Rules, may be furnished on or before 30^th June, 2021;

6. The Statement of Deduction of Tax from contributions paid by the trustees of an approved superannuation fund for the Financial Year 2020-21, required to be sent on or before 31^st May, 2021 under Rule 33 of the Rules, may be sent on or before 30^th June, 2021;

7. 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 15^th June, 2021 under Rule 12CB of the Rules, may be furnished on or before 30^th June, 2021;

8. 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 30^th June, 2021 under Rule 12CB of the Rules, may be furnished on or before 15^th July, 2021;

9. The due date of furnishing of Return of Income for the Assessment Year 2021-22, which is 31^st July, 2021 under sub-section (1) of section 139 of the Act, is extended to 30^th September, 2021;

10. The due date of furnishing of Report of Audit under any provision of the Act for the Previous Year 2020-21, which is 30^th September, 2021, is extended to 31^st October, 2021;

11. The due date of furnishing Report from an Accountant by persons entering into international transaction or specified domestic transaction under section 92E of the Act for the Previous Year 2020-21,which is 31^st October, 2021, is extended to 30^th November, 2021;

12. The due date of furnishing of Return of Income for the Assessment Year 2021-22, which is 31^st October, 2021 under sub-section (1) of section 139 of the Act, is extended to 30^th November, 2021;

13. The due date of furnishing of Return of Income for the Assessment Year 2021-22, which is 30^th November, 2021 under sub-section (1) of section 139 of the Act, is extended to 31^st December, 2021;

14. The due date of furnishing of belated/revised Return of Income for the Assessment Year 2021-22, which is 31^st December, 2021 under sub-section (4)/sub-section (5) of section 139 of the Act, is extended to 31^st January, 2022.

It is clarified that the extension of the dates as referred to in clauses (ix), (xii) and (xiii) above shall not apply to Explanation 1 to section 234A of the Act, in cases where the amount of tax on the total income as reduced by the amount as specified in clauses (i) to (vi) of sub-section (1) of that section exceeds rupees one lakh. Further, in case of an individual resident in India referred to in sub-section (2) of section 207 of the Act, the tax paid by him under section 140A of the Act within the due date (without extension ) provided in that Act, shall be deemed to be the advance tax.

CBDT Circular No.9/2021 in F.No.225/49/2021/ITA-II dated 20.05.2021 issued. The said Circular is available on www.incometaxindia.gov.in.

(Surabhi Ahluwalia)

Commissioner of Income Tax (Media & Technical Policy)

Official Spokesperson, CBDT

 

HC stays the operation of faceless assessment order passed and as well as the show cause notice (SCN) for penalty u/s 274 r.w.s 270A and 271AAC. HC considers assessee's submission that in reply of SCN w.r.t. draft assessment order dt. 15th April 2021 the submissions were filed and a hearing was requested. However, without considering his request for hearing, assessment order on 21st April, 2021 raising a demand of Rs. 374,02,52,160/-  has been passed and the penalty proceedings have been initiated.

Click here to read and download HC order

 

HC issues notice, stays operation of impugned assessment order for AY 2018-19; Considers assessee’s submission that no show-cause notice has been served upon it before making the addition u/s. 69; Also considers the submission that while an addition of Rs. 90,00,000 has been made u/s. 69, tax at the rate of 60% has been levied in terms of Section 115BBE, as a result of which the tax demand raised has scaled up to Rs. 92,14,550/-, an amount, which is more than the addition made by the AO.

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No. 12(2)/2020-E.II(A)

Government of lndia

Ministry of Finance

Department of Expenditure

North Block. New Delhi

Dated 7th May, 2021

OFFICE MEMORANDUM

Subject: Clarification regarding full and final settlement of bills / claims pertaining to LTC Special Cash Package Scheme.

The undersigned is directed to refer to this department OM of even no. dated 31st March 2021 clarifying that submission of bills / claims with regard to LTC Scheme may be entertained and settled by Ministries Departments not later than 30"' April 2021.

2. Queries have been received in this department to extend the date for submission of bills / claims and settlement beyond 30th April. 2021. Keeping in view of the situation existing due to Covid-19 pandemic, it has been decided that submission of bills claims may be entertained and settled by Ministries / Departments not later than 31s May, 2021. However is reiterated that payment for the purchases should have been made not later than the due date i.e. 31st March 2021.

3. This issues with the approval of Finance Secretary.

(Prateek Kumar Singh)

Dy. Secretary of the Government of India

 

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No. 12(2)/2020-E.II(A)

Government of India

Ministry of Finance

Department of Expenditure

North Block, New Delhi

Dated 31^st March, 2021

OFFICE MEMORANDUM

Subject: Clarification regarding full and final settlement of bills / claims pertaining to LTC Special Cash Package Scheme.

The undersigned directed to refer to point no. 11 of FAQ-1 of this Department issued vide O.M. of even No. dated 20^th October 2020 and point no. 1 of FAQ-4 issued vide O.M. dated 10^th March, 2021 clarifying that "as far as possible, the claims should be made and settled well before 31st March, 2021. Ministries/Departments may consider settlement of only those claims / purchases made on or before 31^st March, 2021 beyond the due date, i.e, 31^st March, 2021".

2.In this regard, it stated that queries are being received in this Department with respect to purchases made upto 31^st March, 2021 (including on-line purchases) and submissions of bills/claims and settlement beyond 31^st March, 2021. Keeping in view of practical difficulties in submission of bills/claims for purchases made particularly in late hours of 31^st March, 2021 (including on-line purchases), it is clarified that submission of bills/claims may be entertained and settled by Ministries / Departments not later than 30 April 2021. However, it is reiterated that the payment for the purchases should be made not later than the due date i.e. 31^st March, 2021.

3. This issues with the approval of competent authority.

(Prateek Kumar Singh)

Dy. Secretary to the Government of India

 

HC issues notice to Revenue upon writ petition filed by assessee-company assailing assessment order passed in breach of its own timeline. Observes that a show cause notice was issued to the assessee on April 18, 2021 and seeking explanation from the assessee by 23:59 hours on April 22 and AO passed an assessment order u/s 143(3) r.w.s 144B of the IT Act, 1961 for the concerning AY 2018-2019 on April 22 at 14:11 hours. HC notes that prima facie, it appears that there has been a breach of principles of natural justice, grants stay on impugned order as well as the notice of demand issued u/s 156 and the notice initiating penalty proceedings u/s 270A of the Act. 

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