Due to the nationwide lockdown and restrictions due to Corona virus infection, the Income Tax Department has decided to give relief to the taxpayers. The Income Tax Department has extended the deadline for completing many tasks related to income tax for the convenience of taxpayers. In a notification issued by the Ministry of Finance, it has been said that in view of the difficulties being faced by the taxpayers due to COVID-19, the deadline for tax related work has been extended.
Extended deadline for these works
1. According to Rule 31 of the Income Tax Act, 1962, the last date for issue of TDS certificate has been extended to July 31, 2021. Earlier the deadline was June 15, 2021.
2. Under the tax rules, the tax deduction statement for the last quarter of the financial year 2020-21 has to be submitted on or before 15 July 2021. Earlier this date was May 31, 2021.
3. Form no. for 2020-21. In 64 D, the statement of payment of income tax on behalf of the investment fund or credited to the account of the unit holder can be submitted till 15 July 2021. Earlier this date was 15 June 2021.
4. Form no. for 2020-21. In 64C, the statement of payment of income tax on behalf of the investment fund or credited to the account of the unit holder can be submitted till July 15, 2021. Earlier this date was 30 June 2021.
5. The option to withdraw the pending application (Income Tax Settlement Commission) can be exercised till 31 July 2021.
Which people will have to pay double TDS from July 1, know whether you are also in this category?
September 30, 2021 is the last date to file ITR
You should file ITR on time. This gives you a timely and faster refund, as the workload on the tax authorities increases after filing the return on the last date. The last date for filing income tax returns at the individual level is July 31. Whereas for corporate it is till 31 October. But this year the last date for filing personal ITR for 2020-21 has been extended to 30 September 2021 and 30 November 2021 for corporate in the circumstances of COVID.