Highlights
Decision in wake of the COVID-19 pandemic.
Hardship being faced by various stakeholders.
New Delhi: Government has extended the timeline of 14 tax related matters in the wake of the COVID-19 pandemic.
An official statement said that the Central Government, in continuation of its commitment to address the hardship being faced by various stakeholders on account of the severe Covid-19 pandemic, has, on consideration of representations received from various stakeholders, decided to extend timelines for compliances under the Income-tax Act,1961 (hereinafter in the following cases, as under:
The Statement of Financial Transactions(SFT) for the Financial Year 2020-21, required to be furnished on or before 31st May, 2021 under Rule 114E of the Income-tax Rules, 1962 (hereinafter referred to as “the Rules”) and various notifications issued thereunder, may be furnished on or before 30th June, 2021;