IT Dept extends deadline for various tax compliances
The Income Tax Department on Tuesday extended the deadline for various compliances, including filing of details related to equalization levies and remittances.
The deadline for filing Equalization Levy Statement in Form-1 for the financial year 2020-21 has been extended from the original due date of June 30 to August 31.
Quarterly statement in Form 15CC to be submitted by authorized dealers in respect of remittances made for the April-June quarter can now be filed till August 31. The original due date for filing this statement was July 15.
In a statement, the Central Board of Direct Taxes (CBDT) said that keeping in view the difficulties raised by taxpayers and other stakeholders in electronic filing of certain forms, it has been decided to extend the due dates for electronic filing. Form.
Further, in view of non-availability of utility for e-filing of certain forms, CBDT has decided to extend the due dates for electronic filing of forms relating to information by Pension Fund and Sovereign Wealth Fund.
Information to be furnished by Pension Funds and Sovereign Wealth Funds in respect of investments made in India for the June quarter, which is required to be furnished by July 31, can now be furnished by September 30.
Nangia & Co LLP partner Shailesh Kumar said that in view of technical glitches in the new income tax portal, taxpayers were facing a lot of problems in meeting such deadlines and many taxpayers could not even comply within the due date .
“The extension will provide much-needed relief to the taxpayers to comply and also save them from the penal consequences of not being able to adhere to the earlier timelines due to technical glitches in the IT portal,” Kumar said.
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