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COVID-19 Effect: Government extends deadline for tax compliance. The last date for filing ITR is now 31 May 0 1 1 minute read The government on Saturday extended the deadline for various income tax compliance, including filing revised or revised returns for the 2019-20 financial year, till 31 May. The Central Board of Direct Taxes (CBDT) said that it had received representation from various stakeholders for exemption on compliance requirements. “Given the adverse circumstances arising due to the severe COVID-19 epidemic and the many requests received from taxpayers, tax advisors and other...

Govt further extends tax compliance timelines amid pandemic ​ By IANS | Published on ​ Sat, May 1 2021 15:27 IST | ​ 6 Views Tax. (IANS Infographics). Image Source: IANS News New Delhi, May 1 : In view of the severe Covid-19 pandemic and requests put forward by taxpayers, tax consultants and other stakeholders, the government has decided to provide further relief to taxpayers by extending various time limits of compliances. Accordingly, the Central Board of Direct Taxes (CBDT) has now extended the time limit for filing of belated return and revised return for Assessment Year 2020-2...

April 24, 2021 Vivad se Vishwas payment time limit extended to June 30 In light of hardship being faced by various stakeholders during the current second wave of COVID19, the Finance Ministry has extended the time limits to June 30 for various time barring dates that were earlier extended to April 30. Consequently, the time limit for payments under Vivad se Vishwas without additional tax of 10 per cent can now be done upto June 30. Other areas where timeline has been extended to June 30 are time limit for sending intimation of processing of Equalisation Levy; time limit for passing of any o...

(Image source from: Economictimes.indiatimes.com) Aadhaar and PAN link deadline extended again:- The Income Tax Department once again extended the last date for linking the Aadhaar cards with PAN Cards to June 30th. The deadline was fixed to March 31st this year but with lakhs of people still yet to link them, the date is extended once again till June 30th. The Income Tax Department announced that the date is extended because of the ongoing coronavirus pandemic. The Income Tax Department said that it has received the representation from the taxpayers to extend the date considering the ongoin...

Vivaad Se Vishwas scheme more successful than previous govt initiatives: Source SECTIONS Share Synopsis So far 125,144 cases have opted for the scheme which is 24.5% of the entire long pending 510,491 cases that were in various tax disputes at different legal fora. Agencies The Vivad se Vishwas direct tax dispute resolution scheme has received overwhelming response - settlement amount of over Rs 97000 crore - in contrast to similar earlier schemes brought in 1998 and in 2016, a source in the department of revenue said. So far 125,144 cases have opted for the scheme which is 24.5% of the entir...