New Delhi: Minister of State for Finance Anurag Thakur on Friday (June 25) announced easing of income tax compliance and additional relief measures for taxpayers during the fight against COVID-19. The minister told ANI that the payment without interest for the Vivad Se Vishwas scheme has been given for two months from June 30 to August 31. He also said that the last date for linking PAN card and Aadhar card has been extended from June. 30 September to 30 September.
The government had earlier extended the deadline for making payments under this direct tax dispute resolution scheme by two months till June 30. “In the next two months, the scheme will be closed with interest by October 31,” Thakur said.
He said a three-month extension has been given for tax deduction for people investing in residential homes. “Another relief for income taxpayers is the time to invest in a residential house. For tax deduction extension beyond three months, investments made on or after April 1 can now be done till September 30. So there There is an extension of three months,” he told ANI.
The minister announced that the deadline for various compliances has been extended by 15 days to two months or more. “For filing tax deducted at source (TDS) statement, the deadline has been extended from June 30 to July 15. For issuance of tax deduction certificate, from July 15 to July 31. For filing of foreign remittance certificate For, from July 15 to July 31.
The extension for the equalization levy has been given from June 30 to July 31. The period for uploading the forms of No TDS claim cases is from July 15 to August 31. Objection to Dispute Resolution Panel from June 1 to August 31 and option from June 27 to July 31 to withdraw cases from the Settlement Commission,” the minister he said.
The minister also announced tax concessions to strengthen the fight against COVID-19 and said that for the year 2019-20 and onwards, medical treatment paid by the employer or any person to a person due to coronavirus The amount shall not be taxed in the hands of any employee or beneficiary.
The minister announced measures related to tax concessions for COVID treatment and payment of death. Thakur told ANI that ex-gratia payment by the employer to the family of an employee or by any person to the family of any other person on death of the employee or any other person due to COVID-19 for the year 2019-20 or subsequent Tax exemption will be given. The ex-gratia from any other person has been capped at Rs 10 lakh.
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