The Ministry of Finance on Monday has issued tax exemption due to COVID-19 through press release.
As per press release, the Government has extended various key tax compliance deadlines.
Due date for filing of ITR for Financial Year 2019-20 (relevant to Assessment Year 2020-21) was extended to 10th January, 2021 for non-auditable cases and non-company cases. For auditable cases, company cases and cases having international transactions, the due date was extended to 15th February, 2021. Due date for furnishing of tax audit report was also extended from 30th September, 2020 to 15th January, 2021.
The time for filing income-tax returns for Financial Year 2018-19 (relevant to Assessment Year 2019-20) was extended to 30th November, 2020;
Date of assessments getting barred on 30th September, has been extended to 30th Sept 2021.
Extension of date for filing declaration under the Direct Tax Vivad se Vishwas Act, 2020 [enacted for resolution of pending disputes related to the Act] was extended to 31 March 2021. Further, the due date of payment without any additional amount has been extended to 30th August 2021.
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