On 25 June 2021, India’s Central Board of Direct Taxes (CBDT) has issued Notifications No. 74 and No. 75, Circular No. 12/2021 granting further extension in timelines of certain tax compliances related to corporate taxation due to the impact of the Covid-19 pandemic.
- Objections to Dispute Resolution Panel (DRP) and Assessing Officer under section 144C of the Income-tax Act, 1961 (hereinafter referred to as “the Act”) for which the last date of filing under that section is 1st June, 2021 or thereafter, may be filed within the time provided in that section or by 31st August, 2021, whichever is later.
- The Equalization Levy Statement in Form No. 1 for the Financial Year 2020-21, which is required to be filed on or before 30th June, 2021, may be furnished on or before 31st July, 2021.
- Last date of payment of amount under Vivad se Vishwas (with additional amount) has been notified as 31st October, 2021.
- Time Limit for audit (i.e., assessment) or reassessment order which was earlier extended to 30th June, 2021 is further extended to 30th September, 2021.
- Time Limit for passing penalty order which was earlier extended to 30th June, 2021 is further extended to 30th September, 2021.
- Time Limit for processing Equalisation Levy returns which was earlier extended to 30th June, 2021 is further extended to 30th September, 2021.
