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Govt Notifies Extension of Assessment Time Limit and Vivad se Vishwas Tax Payment Date

govt-notifies-extension-of-assessment-time-limit-and-vivad-se-vishwas-tax-payment-date

The Government extends certain timelines to 30.06.2021 where the time limit was earlier extended to 30.04.2021 through various notifications issued under the Taxation and Other Laws (Relaxation) and Amendment of Certain Provisions Act, 2020.


Earlier, this was informed by the CBDT through a press release. Though no notification was issued at that time to extend the timeline but it was stated that the same will be issued in due course.


Now, CBDT has issued Notification No. 38/2021 dated 27.04.2021 for extension of completion dates of certain actions by the departmental officers and Notification No. 39/2021 dated 27.04.2021 for extension in payment of date for tax under the Vivad se Vishwas Scheme. In both these cases, the date is extended upto 30th June 2021.



Earlier, Notification No. 93/2020 dated 31.12.2020 has extended the completion date of various compliances under the specified Acts to 31st March 2021 which falls between the period from 20th March 2020 to 30th March 2021. 


The Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 has already extended the said completion date to 31-03-2021 for the period between 20th March 2020 to 31st December 2020. 


This time the notification has extended the completion date of certain compliances under the specified Acts . This shall be applicable not only to Income Tax Act, 1961 but also to seven other specified Acts in the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 which are as follows-


(i) the Wealth-tax Act, 1957; 27 of 1957.

(ii) the Income-tax Act, 1961; 43 of 1961.

(iii) the Prohibition of Benami Property Transactions Act, 1988; 45 of 1988.

(iv) Chapter VII of the Finance (No. 2) Act, 2004; 22 of 2004.

(v) Chapter VII of the Finance Act, 2013; 17 of 2013.

(vi) the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015; 22 of 2015.

(vii) Chapter VIII of the Finance Act, 2016; or 28 of 2016.

(viii) the Direct Tax Vivad se Vishwas Act, 2020; 3 of 2020.


It should be noted that the notification 93/2020 has only extended the date for compliances that falls under section 3(1)(a) of the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020. These compliances are meant for tax authorities, commission and tribunals and not for the assessee.


The said clause (a) reads as follows-


(a) completion of any proceeding or passing of any order or issuance of any notice, intimation, notification, sanction or approval or such other action, by whatever name called, by any authority, commission or tribunal, by whatever name called, under the provisions of the specified Act; or


The said notifications have extended the time limits to 30th June, 2021 in the following cases 


1. Time limit for passing of any order for assessment or reassessment under the Income-tax Act, 1961(hereinafter called 'the Act' ) the time limit for which is provided under section 153 or section 153B thereof 


2. Time limit for passing an order consequent to direction of DRP under sub-section (13) of section 144C of the Act; 


3. Time limit for issuance of notice under section 148 of the Act for reopening the assessment where income has escaped assessment; 


4. Time Limit for sending intimation of processing of Equalisation Levy under sub-section (1) of section 168 of the Finance Act 2016. 


5. The time for payment of amount payable under the Direct Tax Vivad se Vishwas Act, 2020, without an additional amount, is further extended to 30th June, 2021.


CBDT has already extended the last date for intimating Aadhaar number under section 139AA(2) of the Income-tax Act, 1961 (“Act”) for the purposes of linking Aadhaar with PAN  from 31st March, 2021 to 30th June, 2021 vide Notification No. 20/2021 dated 31.03.2021.




Read the full text of Notification No. 38/2021 dated 27.04.2021 extending the due date of certain compliances


MINISTRY OF FINANCE

(Department of Revenue)

(CENTRAL BOARD OF DIRECT TAXES)


NOTIFICATION


New Delhi, the 27th April, 2021


S.O. 1703(E).— In exercise of the powers conferred by sub-section (1) of section 3 of the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 (38 of 2020) (hereinafter referred to as the said Act), and in partial modification of the notifications of the Government of India in the Ministry of Finance, (Department of Revenue) No. 93/2020 dated the 31st December, 2020, No. 10/2021 dated the 27th February, 2021 and No. 20/2021 dated the 31st March, 2021, published in the Gazette of India, Extraordinary, Part-II, Section 3, Sub- section (ii), vide number S.O. 4805(E), dated the 31st December, 2020, vide number S.O. 966(E) dated the 27th February, 2021 and vide number S.O. 1432(E) dated the 31st March, 2021, respectively (hereinafter referred to as the said notifications), the Central Government hereby specifies for the purpose of sub-section (1) of section 3 of the said Act that, —


(A) where the specified Act is the Income-tax Act, 1961 (43 of 1961) (hereinafter referred to as the Income-tax Act) and, —


(a) the completion of any action, referred to in clause (a) of sub-section (1) of section 3 of the said Act, relates to passing of any order 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, expires on the 30th day of April, 2021 due to its extension by the said notifications, such time limit shall further stand extended to the 30th day of June, 2021;


(b) the completion of any action, referred to in clause (a) of sub-section (1) of section 3 of the said Act, relates to passing of an order under sub-section (13) of section 144C of the Income-tax Act or issuance of notice under section 148 as per time-limit specified in section 149 or sanction under section 151 of the Income-tax Act, and the time limit for completion of such action expires on the 30th day of April, 2021 due to its extension by the said notifications, such time limit shall further stand extended to the 30th day of June, 2021.


Explanation.— For the removal of doubts, it is hereby clarified that for the purposes of issuance of notice under section 148 as per time-limit specified in section 149 or sanction under section 151 of the Income-tax Act, under this sub-clause, the provisions of section 148, section 149 and section 151 of the Income-tax Act, as the case may be, as they stood as on the 31st day of March 2021, before the commencement of the Finance Act, 2021, shall apply.


(B) where the specified Act is the Chapter VIII of the Finance Act, 2016 (28 of 2016) (hereinafter referred to as the Finance Act) and the completion of any action, referred to in clause (a) of sub-section (1) of section 3 of the said Act, relates to sending an intimation under sub-section (1) of section 168 of the Finance Act, and the time limit for completion of such action expires on the 30th day of April, 2021 due to its extension by the said notifications, such time limit shall further stand extended to the 30th day of June, 2021.


[Notification No. 38 /2021/ F. No. 370142/35/2020-TPL]

RAJESH KUMAR BHOOT, Jt. Secy. Tax Policy & Legislation Division 


Note: The principal notification was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii) vide S.O. No. 4805 dated 31st December, 2020.


Download Copy of Notification No. 38/2021 dated 27.04.2021 extending the due date of certain compliances in pdf format





Read the full text of Notification No. 39/2021 dated 27.04.2021 extending the date of payment without additional amount under Vivad se Vishwas Scheme



MINISTRY OF FINANCE

(Department of Revenue)

(CENTRAL BOARD OF DIRECT TAXES)


NOTIFICATION


New Delhi, the 27th April, 2021


S.O. 1704(E).—In exercise of the powers conferred by section 3 of the Direct Tax Vivad se Vishwas Act, 2020 (3 of 2020), the Central Government hereby makes the following amendments in the notification of the Government of India, Ministry of Finance, (Department of Revenue), number 85/2020, dated the 27th October, 2020, published in the Gazette of India, Extraordinary, Part-II, Section 3, Sub-section (ii), vide number S.O. 3847(E), dated 27th October, 2020 , namely:––


In the said notification, ––


(i) in clause (b), for the figures, letters and words “30th day of April, 2021”, the figures, letters and words “30th day of June, 2021” shall be substituted;


(ii) In clause (c), for the figures, letters and words “1st day of May, 2021”, the figures, letters and words “1st day of July, 2021” shall be substituted.


[Notification No. 39/2021/ F.No. IT(A)/01/2020-TPL] 

RAJESH KUMAR BHOOT, Jt. Secy. Tax Policy & Legislation Division 


Note: The principal notification was published in the Gazette of India, Extraordinary, Part-II Section 3, Sub-section (ii) dated the 27th October, 2020 vide number S.O. 3847(E), dated 27th October, 2020 and was subsequently amended by notification number S.O. 4804(E), dated 31st December, 2020 published in the Gazette of India, Extraordinary, Part-II Section 3, Sub-section (ii) dated the 31st December, 2020 and notification number S.O. 471(E), dated 31st January, 2021 published in the Gazette of India, Extraordinary, Part-II Section 3, Subsection (ii) dated the 31st January, 2021 and notification number S.O. 964(E), dated 26th February, 2021 published in the Gazette of India, Extraordinary, Part-II Section 3, Subsection (ii) dated the 26th February, 2021.


Download Copy of Notification No. 39/2021 dated 27.04.2021 extending the date of payment without additional amount under Vivad se Vishwas Scheme in pdf format



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