ITR Filing: The government extended the timelines of filing tax compliances amidst COVID-19Amid the 2nd wave of the COVID-19 pandemic, the government, earlier last month, announced the extension of filing income tax returns (ITR) for the fiscal year 2020-21 by 2 months, till September 30.
In order to supply relief to taxpayers and address troubles faced by them during the pandemic, the Central Board of Direct Taxes (CBDT) likewise extended the timelines for various tax compliances under the Income-Tax Act,1961.
The last date to file the TDS return or tax deducted at source is June 30, 2021, according to the official circular.
(Also Check Out: Due Date For Submitting Tax Return Extended Till September 30 In The Middle Of COVID-19 ) The Central Board of Direct Taxes - the statutory body which heads the Income Tax (I-T) department launched a main circular with information of the timelines of earnings tax compliances extended for taxpayers this year.The crucial deadlines that taxpayers need to keep in mind, for some of the tax compliances that fall this month - June 2021, are as follows: The last date for submitting the statement of reportable account for the calendar year 2020, required to be provided on or prior to May 31, 2021, can now be done on or prior to June 30, 2021.
The due date for submitting the statement of deduction of tax for the last quarter of the financial year 2020-21, required to be provided on or prior to May 31, 2021, can be sent on or prior to June 30, 2021.
The tax deducted at source or TDS/TCS book modification statement can be filed on or before June 30, 2021.
The last date for the financial institutions to provide the Statement of Financial Transaction or SFT report is extended till June 30, 201, from the earlier due date of May 31, 2021.
Meanwhile, according to the CBDT's circular, the deadline for issuing Certificate of Tax Deducted at Source in Type No 16 by companies to employees is extended by a month till July 15, 2021.