Ministry of Finance has informed that it has extended certain timelines by keeping in view of the COVID pandemic.
Accordingly, The Central Government has extended the timeline from 30th April, 2021 to 30th June, 2021, regarding certain provisions mentioned below:
- Time limit for passing of any order for assessment or reassessment under section 153 of the Income Tax Act, 1961.
- Time limit for passing an order consequent to direction of DRP under section 144C (13) of the IT Act.
- Time limit for issuance of notice under section 148 of the IT Act.
- Time limit for sending intimation of processing of Equalisation Levy under section 168(1) of the Finance Act. 2016.
Further, the government has also extended the time limit for payment under ‘Vivad Se Vishwas’ Scheme without an additional tax of 10 percent till 30th June 2021.
Click here for official press release:
Provisional Direct Tax Collections at 5 Percent Growth