{"id":73835,"date":"2021-06-25T19:23:01","date_gmt":"2021-06-25T13:53:01","guid":{"rendered":"https:\/\/newsmakhani.com\/?p=73835"},"modified":"2021-06-25T19:23:01","modified_gmt":"2021-06-25T13:53:01","slug":"government-grants-further-extension-in-timelines-of-compliances","status":"publish","type":"post","link":"https:\/\/newsnarad.com\/hi\/government-grants-further-extension-in-timelines-of-compliances\/","title":{"rendered":"Government grants further extension in timelines of compliances"},"content":{"rendered":"

\u0915\u094d\u0937\u092e\u093e \u0915\u0930\u0947\u0902, \u092f\u0939 \u0938\u092e\u093e\u091a\u093e\u0930 \u0906\u092a\u0915\u0947 \u0905\u0928\u0941\u0930\u094b\u0927 \u0915\u0940 \u092d\u093e\u0937\u093e \u092e\u0947\u0902 \u0909\u092a\u0932\u092c\u094d\u0927 \u0928\u0939\u0940\u0902 \u0939\u0948\u0964 \u0915\u0943\u092a\u092f\u093e \u092f\u0939\u093e\u0901 \u0926\u0947\u0916\u0947\u0902\u0964<\/a><\/p>

<\/p>\n

Also announces tax exemption for expenditure on COVID-19 treatment and ex-gratia received on death due to COVID-19<\/span><\/h4>\n

Delhi 25 JUN 2021<\/h4>\n

The Government has granted further extension of timelines of compliances under Income Tax Act. It has also announced tax exemption for expenditure on COVID-19 treatment and ex-gratia received on death due to COVID-19. The\u00a0details are as follows:<\/strong><\/p>\n

A.<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Tax exemption<\/strong><\/p>\n

    \n
  1. Many taxpayers have received financial help from their employers and well-wishers for meeting their expenses incurred for treatment of Covid-19. In order to ensure that no income tax liability arises on this account, it has been decided to provide income-tax exemption to the amount received by a taxpayer for medical treatment from employer or from any person for treatment of Covid-19 during FY 2019-20 and subsequent years.<\/li>\n
  2. Unfortunately, certain taxpayers have lost their life due to Covid-19. Employers and well-wishers of such taxpayers had extended financial assistance to their family members so that they could cope with the difficulties arisen due to the sudden loss of the earning member of their family. In order to provide relief to the family members of such taxpayer, it has been decided to provide income-tax exemption to ex-gratia payment received by family members of a person from the employer of such person or from other person on the death of the person on account of Covid-19 during FY 2019-20 and subsequent years. The exemption shall be allowed without any limit for the amount received from the employer and the exemption shall be limited to Rs. 10 lakh in aggregate for the amount received from any other persons.<\/li>\n<\/ol>\n

    Necessary legislative amendments for the above decisions shall be proposed in due course of time.<\/p>\n

    B.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Extension of Timelines<\/strong><\/p>\n

    In view of the impact of the Covid-19 pandemic, taxpayers are facing inconvenience in meeting certain tax compliances and also in filing response to various notices. In order to ease compliances to be made by taxpayers during this difficult time, reliefs are being provided through Notifications nos. 74\/2021 & 75\/2021 dated 25th<\/sup>\u00a0June, 2021 Circular no. 12\/2021 dated 25th<\/sup>\u00a0June, 2021. These reliefs are:<\/p>\n

      \n
    1. Objections to Dispute Resolution Panel (DRP) and Assessing Officer\u00a0<\/strong>under\u00a0section 144C of the Income-tax Act, 1961\u00a0<\/strong>(hereinafter referred to as \u201cthe Act\u201d) for which the last date of filing under that section is 1st<\/sup>\u00a0June, 2021 or thereafter, may be filed within the time provided in that section or by\u00a031st<\/sup>\u00a0August, 2021<\/strong>, whichever is later.<\/li>\n
    2. The Statement of Deduction of Tax<\/strong>\u00a0for the last quarter of the Financial Year 2020-21, required to be furnished on or before 31st\u00a0<\/sup>May, 2021 under Rule 31A of the Income-tax Rules,1962 (hereinafter referred to as \u201cthe Rules\u201d), as extended to 30th<\/sup>\u00a0June, 2021 vide Circular No.9 of 2021, may be furnished\u00a0on or before 15th<\/sup>\u00a0July, 2021<\/strong>.<\/li>\n
    3. The Certificate of Tax Deducted at Source\u00a0<\/strong>in\u00a0Form No.16<\/strong>, required to be furnished to the employee by 15th<\/sup>\u00a0June, 2021 under Rule 31 of the Rules, as extended to 15th<\/sup>\u00a0July, 2021 vide Circular No.9 of 2021, may be furnished\u00a0on or before 31st<\/sup>\u00a0July, 2021<\/strong>.<\/li>\n
    4. The Statement of Income paid or credited\u00a0<\/strong>by an investment fund to its unit holder in\u00a0Form No. 64D<\/strong>\u00a0for the Previous Year 2020-21, required to be furnished on or before 15th<\/sup>\u00a0June, 2021 under Rule 12CB of the Rules, as extended to 30th<\/sup>\u00a0June, 2021 vide Circular No.9 of 2021, may be furnished\u00a0on or before 15th<\/sup>\u00a0July, 2021<\/strong>.<\/li>\n<\/ol>\n

       <\/p>\n

        \n
      1. The Statement of Income paid or credited<\/strong>\u00a0by an investment fund to its unit holder in\u00a0Form No. 64C<\/strong>\u00a0for the Previous Year 2020-21, required to be furnished on or before 30th\u00a0<\/sup>June, 2021 under Rule 12CB of the Rules, as extended to 15th<\/sup>\u00a0July, 2021 vide Circular No.9 of 2021, may be furnished\u00a0on or before 31st<\/sup>\u00a0July, 2021<\/strong>.<\/li>\n
      2. The application\u00a0under Section 10(23C), 12AB, 35(1)(ii)\/(iia)\/(iii) and 80G<\/strong>\u00a0of the Act in\u00a0Form No. 10A\/ Form No.10AB,<\/strong>\u00a0for registration\/ provisional registration\/ intimation\/ approval\/ provisional approval\u00a0of Trusts\/ Institutions\/ Research Associations etc.<\/strong>, required to be made on or before 30th<\/sup>\u00a0June, 2021, may be made on or before\u00a031st\u00a0<\/sup>August, 2021<\/strong>.<\/li>\n
      3. The\u00a0compliances<\/strong>\u00a0to be made by the taxpayers such as investment, deposit, payment, acquisition, purchase, construction or such other action, by whatever name called, for the purpose of\u00a0claiming any exemption under the provisions contained in Section 54 to 54GB<\/strong>\u00a0of the Act, for which the last date of such compliance falls between 1st<\/sup>\u00a0April, 2021 to 29th\u00a0<\/sup>September, 2021 (both days inclusive), may be completed on or before\u00a030th<\/sup>\u00a0September, 2021.<\/strong><\/li>\n
      4. The\u00a0Quarterly Statement in Form No. 15CC<\/strong>\u00a0to be furnished by authorized dealer in respect of remittances made for the quarter ending on 30th<\/sup>\u00a0June, 2021, required to be furnished on or before 15th\u00a0<\/sup>July, 2021 under Rule 37 BB of the Rules, may be furnished on or before\u00a031st\u00a0<\/sup>July, 2021<\/strong>.<\/li>\n
      5. The\u00a0Equalization Levy Statement in Form No. 1<\/strong>\u00a0for the\u00a0Financial Year 2020-21<\/strong>, which is required to be filed on or before 30th<\/sup>\u00a0June, 2021, may be furnished on or before\u00a031st\u00a0<\/sup>July, 2021<\/strong>.<\/li>\n
      6. The\u00a0Annual\u00a0<\/strong>Statement\u00a0<\/strong>required to be furnished under\u00a0sub-section (5) of section 9A of the Act by the eligible investment fund\u00a0<\/strong>in\u00a0Form No. 3CEK<\/strong>\u00a0for the Financial Year 2020-21, which is required to be filed on or before 29th<\/sup>\u00a0June, 2021, may be furnished on or before\u00a031st\u00a0<\/sup>July, 2021.<\/strong><\/li>\n
      7. Uploading of the declarations<\/strong>\u00a0received from recipients in\u00a0Form No. 15G\/15H during the quarter ending 30th<\/sup>\u00a0June, 2021<\/strong>, which is required to be uploaded on or before 15th<\/sup>\u00a0July, 2021, may be uploaded by\u00a031st<\/sup>\u00a0August,2021<\/strong>.<\/li>\n
      8. Exercising of option<\/strong>\u00a0to withdraw pending application (filed before the erstwhile Income Tax Settlement Commission) under\u00a0sub-section (1) of Section 245M<\/strong>\u00a0of the Act in\u00a0Form No. 34BB,<\/strong>\u00a0which is required to be exercised on or before 27th<\/sup>\u00a0June, 2021, may be exercised on or before\u00a031st<\/sup>\u00a0July, 2021.<\/strong><\/li>\n
      9. Last date of linkage of Aadhaar with PAN under section 139AA of the Act<\/strong>, which was earlier extended to 30th<\/sup>\u00a0June, 2021 is further extended to 30th<\/sup>\u00a0September, 2021.<\/li>\n
      10. Last date of payment of amount under Vivad se Vishwas(without additional amount)\u00a0<\/strong>which was earlier extended to 30th<\/sup>\u00a0June, 2021 is further extended to 31st<\/sup>\u00a0August, 2021.<\/li>\n
      11. Last date of payment of amount under Vivad se Vishwas (with additional amount)\u00a0<\/strong>has been notified as 31st<\/sup>\u00a0October, 2021.<\/li>\n
      12. Time Limit for passing assessment order\u00a0<\/strong>which was earlier extended to 30th<\/sup>\u00a0June, 2021 is further extended to 30th<\/sup>\u00a0September, 2021.<\/li>\n
      13. Time Limit for passing penalty order\u00a0<\/strong>which was earlier extended to 30th<\/sup>\u00a0June, 2021 is further extended to 30th<\/sup>\u00a0September, 2021.<\/li>\n
      14. Time Limit for processing Equalisation Levy returns\u00a0<\/strong>which was earlier extended to 30th<\/sup>\u00a0June, 2021 is further extended to 30th<\/sup>\u00a0September, 2021.<\/li>\n<\/ol>\n

        <\/p>","protected":false},"excerpt":{"rendered":"

        \u0915\u094d\u0937\u092e\u093e \u0915\u0930\u0947\u0902, \u092f\u0939 \u0938\u092e\u093e\u091a\u093e\u0930 \u0906\u092a\u0915\u0947 \u0905\u0928\u0941\u0930\u094b\u0927 \u0915\u0940 \u092d\u093e\u0937\u093e \u092e\u0947\u0902 \u0909\u092a\u0932\u092c\u094d\u0927 \u0928\u0939\u0940\u0902 \u0939\u0948\u0964 \u0915\u0943\u092a\u092f\u093e \u092f\u0939\u093e\u0901 \u0926\u0947\u0916\u0947\u0902\u0964 Also announces tax exemption for expenditure on COVID-19 treatment and ex-gratia received on death due to COVID-19 Delhi 25 JUN 2021 The Government has granted further extension of timelines of compliances under Income Tax Act. It has also announced tax […]<\/p>\n","protected":false},"author":13,"featured_media":72160,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[109,122],"tags":[39658,39660,30634,39659],"class_list":["post-73835","post","type-post","status-publish","format-standard","has-post-thumbnail","category-national","category-news","tag-details-are-as-follows","tag-extension-of-timelines","tag-ministry-of-finance","tag-tax-exemption"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsnarad.com\/hi\/wp-json\/wp\/v2\/posts\/73835","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsnarad.com\/hi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsnarad.com\/hi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsnarad.com\/hi\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/newsnarad.com\/hi\/wp-json\/wp\/v2\/comments?post=73835"}],"version-history":[{"count":0,"href":"https:\/\/newsnarad.com\/hi\/wp-json\/wp\/v2\/posts\/73835\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsnarad.com\/hi\/wp-json\/wp\/v2\/media\/72160"}],"wp:attachment":[{"href":"https:\/\/newsnarad.com\/hi\/wp-json\/wp\/v2\/media?parent=73835"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsnarad.com\/hi\/wp-json\/wp\/v2\/categories?post=73835"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsnarad.com\/hi\/wp-json\/wp\/v2\/tags?post=73835"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}