In view of the prevailing situation, the Central Board of Direct Taxes (CBDT) has issued a circular to provide certain relaxations to taxpayers under Income Tax Act, 1961. Here is all you need to know.

The Income Tax department has extended some compliance deadlines to help ease taxpayer burden during the second wave of Covid-19.

In view of the prevailing situation, the Central Board of Direct Taxes (CBDT) has issued a circular to provide certain relaxations to taxpayers under Income Tax Act, 1961.

Here are some of the compliance deadlines that have been eased under I-T law:

The tax department has said that the filing of the belated income tax return under sub-section (4) and revised return under sub-section (5) of Section 139 of the Income Tax Act, 1961, for the assessment year 2020-21 has been extended to May 31, 2021. The previous deadline for the filing was March 31, 2021.

The deadline for filing appeals (appeal to Commissioner) under Chapter XX of the I-T Act, 1961 has also been extended to May 31, 2021. The earlier deadline for the same was April 1, 2021.

Any objections to the Dispute Resolution Panel (DRP) under Section 144 C of the Income Tax Act can now be filed by May 21, 2021 as against April 1, 2021.

The ITR in response to notice under Section 148 of the I-T Act, 1961 can now be filed within May 31, 2021. The previous deadline for filing was April 1, 2021.

The payment of tax deducted under Section 194-IA, Section 194-IB and Section 194M of the Income Tax Act, 1961, and the filing of the challan-cum-statement for such tax deducted, can now be paid on or before May 31, 2021.

It may be noted that the statement in form number 61, containing the particulars of declarations received in form number 60 can now be furnished on or before May 31, 2021. The earlier deadline was April 30, 2021.

Meanwhile, the finance ministry has also decided to offer some relief to businesses with respect to filing GST. The government has issued some notifications to provide relief to businesses that will help them fulfil statutory and regulatory compliances under GST law due to the prevailing Covid-19 situation.

The government has issued notifications to provide relief to businesses in fulfilling the statutory and regulatory compliances under GST law due to Covid-19. These measures are explained below: