In order to provide much awaited relief to its taxpayers during the pandemic faced by the entire country, the Central Board of Direct Taxes has released its Circular 08/2021 dated 30th April 2021 for extension of time limit for compliances under Income Tax Act, 1961

S.no Particulars Reference Previous due date Extended due date
1 Appeal to Commissioner (Appeals) Chapter XX 1st April 2021 31st  May 2021 or time provided under  the section, whichever is later
2 Objection to Dispute Resolution Panel Section 144C 1st April 2021 31st May 2021 or time provided under  the section, whichever is later
3 ITR  in response to Notice Section 148 1st April 2021 31st May 2021 or time provided  in the notice, whichever is later
4 Belated and Revised ITR for A.Y 2020- 21 Sec 139(4) and 139(5) 31st March 2021 31st May 2021
5 Payment of TDS under Section 194- IA, Section 194 IB, Section 194M and filing of challan-cumstatemen Rule 30 of Income Tax Rules, 1962 30th April 2021 31st May 2021
6 Statement in Form 61 Declaration in Form 60 30th April 2021 31st May 2021

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Company: Shivani Garg & Co, Chartered Accountants
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2 Comments

  1. vswami says:

    ADMN
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    3,414 Views (1 comment) < ?!?

    Highly disappointing ; curious to know , –

    does the head count of views (3414) include casual visitors/ unconconcerned viewers/ professionals ;
    and include repetitive / dupliocated views/ visits by them( including me , the only one to post a coment???
    The inquiry ,- for you to know, – is in pursuit of an endeavour to make an apprisal of the quality/ sincerity of such viewers in making full use of such material , mostly of taxpayers'common concern, for the COMMON GOOD !!!

  2. vswami says:

    The subject Press Release seems to have been taken to be, and projected, as a welcome additional measure ‘to mitigate the difficulties faced by taxpayers due to ongoing COVID-19 pandemic’. Prima facie , however, such further extension of the time limit for the specified limited purposes, to say the least, smacks of a populist measure.

    For, if critically considered, there is no knowing – on the contrary it is quite puzzling, -why and how such a measure is going to serve the proclaimed purpose of mitigating or alleviating the taxpayers’ so said difficulties.

    Random (selective) PicK:

    <……. "d) Filing of belated return under sub-section (4) and revised return under sub-section (5) of Section 139 of the Income-tax Act,1961 for Assessment Year 2020-21, which was required to be filed on or before 31st March 2021, may be filed on or before 31st May 2021;"….

    One thinks, logically it should follow that THE TIME LIMIT for filing a revised tax return and / or a claim for refund of any excess tax paid for AY 2020 -21 should be regarded/could be urged to stand extended /deferred ACCORDINGLY ?!?

    FONT – < not only just up to 31 May 2021 as announced, – in own independent view INADVERTANTLY SO, – in the PRESS RELEASE.

    To clarify one's own viewpoints:

    In specifying the same extended date of 31 May 2021 both for filing of a tax return under sec 139 (4) and of a revised return under sec 139 (5) the following aspects , it appears, have been grossly over sighted / impudently glossed over:

    A. The provisions of sec 143 which lay down the procedure for processing a e'filed tax return and making an 'ASSESSMENT', and the applicable time limits there under, come into play only after such filing.

    B. Taxpayer's , as provided in sec 139 (5) , have a vested right- which is a valuable right- to file a 'revised'tax return' in the circumstances as envisaged therein.

    C. Chapter XIX (Sec 237 and Sec 238 ) entitle a taxpayer to file a claim for refund in case of any excess tax paid; for which purpose the period of limitation is that as laid therein.

    Now, turning to the subject extended period of limitation,- if were to be strictly construed and applied,- that will obviously lead to, and result in, an illegitimate denial of an opportunity to taxpayer to either file a revised tax return and / or to claim a refund of excess tax paid in accordance with the above referred extant provisions. To put it differently, that might have the not-obviously intended effect of construing the so extended due date (31 May 2021) as the cut-off date within which a taxpayer in ever given case would be obligated to exercise the said rights.

    Needs to be specially noted, and consciously appreciated that, most certainly it is not at all acceptable that the subject extension of compliance date gone ahead with, for the avowed benefit of taxpayers- not to their detriment-could have the unintended effect of overwriting , or rendering non est., the crucial extant provisions of the law adverted to herein before.

    OVER To Experts in Practice , with an Invite to spare and share independent views ; also, if agreed, to take up , sooner than later, the matter with the FM / CBDT for suitable remedial action !

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