Govt extends deadline for various tax compliances, VsV payments
The income tax department on Sunday extended the deadline for various compliances, including filing of statement for equalisation levy and remittances. The deadline for filing the Equalisation Levy statement in Form-1 for the Financial Year 2020-21 has been extended till December 31, against the original due date of June 30. The quarterly statement in Form 15CC to be furnished by authorised dealers in respect of remittances made for June and September quarter, can now be filed by November 30 and December 31 respectively.
The original due date for filing this statement was July 15 and October 15 respectively. In a statement, the Central Board of Direct Taxes (CBDT) said on consideration of difficulties reported by the taxpayers and other stakeholders in electronic filing of certain forms it has been decided to further extend the due dates for e-filing of these forms. In a separate statement, the CBDT announced extending the deadline for making payments under the direct tax dispute resolution scheme Vivad Se Vishwas (VsV) by a month till September 30.
However, taxpayers have the option to make payments till October 31, with an additional amount of interest. Also, the due dates for electronic filing of forms related to intimation by pension funds and sovereign wealth funds too have been extended. Intimation to be made by Pension Fund and sovereign wealth fund in respect of investment made in India for the June and September quarter, which is required to be furnished by July 31 and October 31, would now have to be furnished by November 30 and December 31 respectively.
The CBDT also extended the due date for uploading of declarations received in Form 15G/15Hfor the June and September quarter till November 30 and December 31 respectively. The original due dates were July 15 and October 15 respectively. The deadlines are being extended as glitches marred the functioning of new income tax portal 'www.incometax.gov.in', launched on June 7.
The Finance Ministry had last week ‘summoned’ Infosys CEO Salil Parekh to explain why issues continued to plague the portal developed by the software major. Finance Minister Nirmala Sitharaman, in the meeting with Parekh on August 23, expressed ‘deep disappointment’ over persisting glitches for more than two months after portal launch and gave him time till September 15 to resolve all issues.