Team Bizsol

Extended Due Dates for Income Tax Compliances

Exercising of option to withdraw pending application under Settlement Commissioner under Section 245M(1)  of the Act in Form No. 34BB which is required to be exercised on or before 27th June, 2021 may be exercised on or before 31st July, 2021.

Uploading of the declarations received from recipients in Form No. 15G/15H during the quarter ending on 30th June, 2021, which is required to be uploaded on or before 15th July,2021, may be uploaded by 31st August,2021.

Relaxation has been provided to furnish Annual Statement required under section 9A(5) of the Act by the eligible investment fund in Form No. 3CEK for the Financial Year 2020-21 from 29th June, 2021 to 31st July,2021.  

Extension of time limit has been extended to furnish Quarterly Statement in Form No. 15CC  by 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 37 BB of the Rules, upto  31st July, 2021.  

Extension has been granted for compliances to be made between 1st April, 2021 to 29th September, 2021 under Capital Gains Exemption u/s 54 to 54GB may be completed upto 30th September, 2021. (IT Circular no. 12/2021 dated 25th June, 2021)

Relaxation has been provided for application under Section 10(23C), 12AB, 35{l)(ii)/(iia)/(iii) and 80G of the Act in Form No. 10A/ Form No.10AB, for registration/ provisional registration/ intimation/ approval/ provisional approval of Trusts/ Institutions/ Research Associations etc. which are required to be made on or before 30th June, 2021, may be made on or before 31st …

Relaxation has been provided for application under Section 10(23C), 12AB, 35{l)(ii)/(iia)/(iii) and 80G of the Act in Form No. 10A/ Form No.10AB.(26.06.2021) Read More »

Extension for furnishing Statement of Income paid or credited by an investment fund to its unit holder in Form No. 64D and Form 64C for the Previous Year 2020-21  has been further granted from 30th June, 2021 to 15th July, 2021. (IT Circular no. 12/2021 dated 25th June, 2021)

Filing of Objections to Dispute Resolution Panel (DRP) and Assessing Officer under section 144C of the Act, for which last date of filing was 1st June, 2021 has been extended to last date specified or 31st, August, 2021 whichever is later. (IT Circular no. 12/2021 dated 25th June, 2021)

Time Limit for passing penalty order which was earlier extended to 30th June, 2021 is further been extended to 30th September, 2021. (Notification 74/2021 dated 25th June,21)

Extension of Time limit for passing order for assessment or reassessment under the Income-tax Act, and the time limit for completion of such action under section 153 or section 153B from 30th June, 2021 to 30th September, 2021. (Notification 74/ 2021 dated 25th June,21)

Last date for payment of Amount under Vivaad se Vishwas Scheme (with additional amount) has been notified as 31st October, 2021. (Notification 75/2021 dated 25th June,21)

Last date for payment of Amount under Vivaad se Vishwas Scheme (without additional amount) has been notified as 31st August, 2021. (Notification 75/2021 dated 25th June,21)

Time Limit for linkage of Aadhar with PAN u/s 139AA has been extended from 30th June, 2021 to 3th September, 2021. (Notification 74/ 2021 dated 25th June,21)

Family members of Taxpayer, who has lost life due to COVID-19 have received financial help from Employer and well wishers of Taxpayer. Exemption under Income tax will be provided to such receipt from employers without any limit and upto Rs. 10 lakhs from any other person in the FY 19-20 and subsequent years. Notification will …

Family members of Taxpayer, who has lost life due to COVID-19 have received financial help from Employer and wellwishers of Taxpayer.(26.06.2021) Read More »

Exemption under Income Tax will be provided to Taxpayers for the financial help received from Employers and well wishers for meeting expenses incurred for treatment of COVID-19 in the FY 19-20 and subsequent years. Notification will be issued.

Govt notifies change in location of Debts Recovery Tribunal, Pune. [MCA Notification No. S.O. 2488(E), Dated: 23.06.2021]

MCA extends time for passing ordinary / special resolutions by companies by holding EGMs through video conferencing (VC) or other audio visual means (OAVM) till 31.12.2021. [Circular No. 10/2021 dated 23rd June 2021]

Panel of State Ministers examines casino and online game services for GST purpose to look into the services by casino, online betting platforms and race courses including valuation matter and whether there is a need to change the existing legislative provisions.