The last date for PAN-Aadhaar linking has been extended by three months to September 30, 2021, while the same for furnishing Tax Deducted at Source (TDS) certificate in Form 16 to the employees by employers has been extended till July 31, from July 15, 2021.
The due date for furnishing TDS statement for the last (January-March) quarter of the 2020-21 has been extended to July 15, from June 30, 2021.
The quarterly statement in Form 15CC to be furnished by an authorised dealer for remittances made for the June quarter would have to furnished by July 31.
Also, the deadline for furnishing Equalisation Levy Statement in Form No. 1 for the financial year 2020-21, has been extended by a month till July 31, 2021, while for processing Equalisation Levy returns, the time limit has been extended by 3 months till September 30, 2021.
Commenting on the measures, Nangia & Co LLP Partner Shailesh Kumar said this would give much needed tax relief to taxpayers, who have received monetary help from their employer, friends and extended families, either for treatment of COVID-19 or on account of death of a family member from the coronavirus infection.
"Though the relief is granted retrospectively from FY 2019-20 onwards, since the due date for filing ITR for FY 2019-20 has already expired, it would be important to see whether the Government revives the time limit for filing ITR for FY 2019-20," Kumar added.
The extension of various due dates, be it for PAN-Aadhaar linking, payment of tax/ penalty under Vivad se Vishwas scheme, completion of assessment proceedings, completion of penalty proceedings, registration of charitable trusts and institutions for income tax exemption etc, will provide additional time, both to taxpayers as well as tax authorities, he added.