In a statement, the CBDT said these due dates which were earlier extended till 30 April have extended to 30 June. Accordingly, assessees who have signed up for settling direct tax disputes under the Vivad se Vishwas scheme can make payments without the additional tax of 10% by end of June.
The other proceedings for which extra time has been given, include completion of assessment, reassessment and re-computation of income as well as issuing notice under section 148 of the Income Tax Act in cases where income has escaped assessment.
CBDT said the extension has been given in view of the fresh surge in Covid-19 across the country, affecting the lives of people and following requests received from taxpayers, tax consultants and other stakeholders.
Time limit for passing an order based on the direction of a dispute resolution panel has also been extended. Also, time limit for the tax department to intimate businesses of processing their statement on equalisation levy have been extended by two months to end of June. CBDT said notifications extending these due dates will be soon issued.
The extension of due date comes at a time businesses, professional services firms and the tax authority are fighting the toll the pandemic is taking on availability of manpower. Businesses are also expecting extension of due dates in the case of filing GST.
Source: https://www.livemint.com/economy/cbdt-extends-certain-due-dates-11619252377443.html
CBDT said the extension has been given in view of the fresh surge in Covid-19 across the country, affecting the lives of people and following requests received from taxpayers, tax consultants and other stakeholders