CBDT has vide notification 10/2021 dt. 27.01.2021 has extended various compliance due dates under Income tax act. Do remember that such due dates have been extended only for Income tax department and it will no where benefit the normal assessee.
The above notification is only applicable on few compliances i.e. compliances mentioned u/s 3(1)(a) of Taxation and Other laws (Relaxation and amendment of certain provisions) Act, 2020.
Due Date for passing of assessment or reassessment orders under the IT Act, that are getting time barred on 31st March, 2021 due to extension of limitation date by the notification dt 31st December, 2020 has been extended to 30th April, 2021.
Due Date for passing assessment or reassessment orders (not covered by (i) above), that are getting time barred on 31st March, 2021, as per time limit specified in section 153 / 153B of the Income-tax Act, has been extended by 6 months i.e. to 30th September, 2021.
Last date for imposing penalty shall be 29th June 2021 and date for passing of penalty orders extended to 30th June, 2021.
Date for issue of notice & passing of orders by Adjudicating Authority under the Benami Act extended to 30th September, 2021.
The notification read as under:
“where the specified Act is the Income-tax Act, 1961 (43 of 1961) (hereinafter referred to as the Income-tax Act) and the completion of any action, as referred to in clause (a) of sub-section (1) of section 3 of the said Act, relates to passing of any order—
(a) for imposition of penalty under Chapter XXI of the Income-tax Act, —
(i) the 29th day of June, 2021 shall be the end date of the period during which the time limit specified in or prescribed or notified under the Income-tax Act falls, for the completion of such action; and
(ii) the 30th day of June, 2021 shall be the end date to which the time limit for completion of such action shall stand extended;
(b) for assessment or reassessment under the Income-tax Act, and the time limit for completion of such action under section 153 or section 153B thereof, —
(i) expires on the 31st day of March, 2021 due to its extension by the said notification, such time limit shall stand extended to the 30th day of April, 2021;
(ii) is not covered under (i) and expires on 31st day of March, 2021, such time limit shall stand extended to the 30th day of September, 2021;
(B) where the specified Act is the Prohibition of Benami Property Transaction Act, 1988, (45 of 1988) (hereinafter referred to as the Benami Act) and the completion of any action, as referred to in clause (a) of sub-section (1) of section 3 of the said Act, relates to issue of notice under sub-section (1) or passing of any order under sub-section (3) of section 26 of the Benami Act,—
(i) the 30th day of June, 2021 shall be the end date of the period during which the time limit specified in or prescribed or notified under the Benami Act falls, for the completion of such action; and
(ii) the 30th day of September, 2021 shall be the end date to which the time limit for completion of such action shall stand extended.”
