Government grants respite to taxpayers in difficult COVID times

Government extends certain timelines in light Of the raging pandemic.
In view Of the severe Covid-19 pandemic raging unabated across the
country affecting the lives of our people, and in view of requests received
from taxpayers, tax consultants and other stakeholders that various time
barring dates, which were earlier extended to 30th April, 2021 by various
notifications, as well as under the Direct Tax Vivad se Vishwas Act, 2020,
may be further extended, the Govemment has extended certain timelines

In the light Of several representations received(supra) and to address
the hardship being faced by various stakeholders, the Central Govemment
has decided to extend the time limits to 30th June, 2021 in the following
cases where the time limit was earlier extended to 30th, April 2021 through
various notifications issued under the Taxation and Other Laws (Relaxation)
and Amendment of Certain Provisions Act, 2020, namely:-

(i) Time limit for passing of any order for assessment or reassessment
under the Income-tax Act, 1961 (hereinafter called ‘the Act ) the time limit
for which is provided under section 153 or section 153B thereof’.

(ii) Time limit for passing an order consequent to direction of DRP
under sub-section (13) Of section 144C Of the Act;

(iii) Time limit for issuance of notice under section 148 of the Act for
reopening the assessment where income has escaped assessment:

(iv) Time Limit for sending intimation Of processing of Equalisation
Levy under sub-section (1) of section 168 of the Finance Act 2016.
It has also been decided that time for payment Of amount payable
under the Direct Tax Vivad se Vishwas Act, 2020, without an additional
amount, shall be further extended to 30th June. 2021.
Notifications to extend the above dates shall be issued in due course.

(Surabhi Ahluwalia)
Commissioner of Income Tax
(Media & Technical Policy)
Official Spokesperson, CBDT

News Desk

News Desk staff at The Kashmir Radar. Posting unbiased news as we believe in pure journalism!

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