On consideration of difficulties reported by the taxpayers and other stakeholders in electronic filing of certain Forms under the provisions of the Income-tax Act, 1961 read with Income-tax Rules, 1962 (Rules), Central Board of Direct Taxes (CBDT), in exercise of its powers under section 119 of the Act, extends the due dates for electronic filling of such forms as under. The due date of furnishing of Return of Income for the Assessment Year 2021-22, which was 31st July 2021 under
Category: Direct Tax
Extension!
On consideration of difficulties reported by the taxpayers and other stakeholders in electronic filing of certain Forms under the provisions of the Income-tax Act, 1961 read with Income-tax Rules, 1962 (Rules), Central Board of Direct Taxes (CBDT), in exercise of its powers under section 119 of the Act dated 29th Aug 2021, extends the due dates for electronic filling of such forms as under. Important Judicial Precedents Holds “Assessing Officer is not permitted to make changes in whatever determined in regular
One More Extension!
On consideration of difficulties reported by the taxpayers and other stakeholders in electronic filing of certain Forms under the provisions of the Income-tax Act,1961 read with Income-tax Rules,1962 (Rules), Central Board of Direct Taxes (CBDT) has decided to further extend the due dates for electronic filing of such Forms vide Circular No.15/2021 dated 03.08.21. The details are as under: Further, considering the non-availability of the utility for e-filing of certain Forms, the CBDT has decided to extend the due dates
2nd Wave Extension!
A. Extension of Timelines! B. Exemption! Exemption (in case of death due to COVID and money received as relief in FY 2019-20 and onwards): Important Judicial Precedents
Extension of Due Date!
Extension of time limits of certain compliances to provide relief to taxpayers in view of the serve pandemic. Compliance Original Due Date Revised Due Date TDS Return for quarter ending March 2021 31st May 2021 30th June 2021 Issuance of TDS Certificate in Form 16 15th June 2021 15th July 2021 Filing of Return of Income for FY 2020-21(Non audit Case) 31st July 2021 30th September 2021 Tax Audit for FY 2020-21 30th September 2021 31st October 2021 Filing of
Government extends timelines of certain compliances in light of the severe pandemic
Also, extend the time limits to June 30, 2021 in the following cases where the time limit was earlier extended to 30th, April 2021. Judicial Update
Welcome to FY 2021-22
Some of the key amendments to Finance Bill 2021 have been summarized below: Important Judicial Precedents A notice issued u/s 142(1) requiring the assessee to furnish a return of income when the assessee had already earlier filed a return is not valid. Once a valid return of income was available on record, which was already processed issuing notice u/s 142(1) of the Act asking the assessee to furnish fresh notice in itself is invalid making subsequently proceedings void ab initio.
Extension! Extension! Extension!
Important Judicial Precedents
Budget Highlights
The Hon. Finance Minister in her budget speech has announced several reforms under the Income Tax. Major Changes Note: The Central Board of Direct Taxes (CBDT) on Monday further extended the due date for filing declaration under the ‘Vivad Se Vishwas’ (VSV) scheme till February 28, 2021. As per a CBDT’s notification, the date for payment of tax without additional interest under VSV remains unchanged at March 31, 2021. Important Judicial Precedents
Extension of Time limits of Statutory Compliance
Important Statutory Developments Important Judicial Precedents