The Central Board of Direct Tax (CBDT), in the recent past, had announced a series of measures including the extension of due-dates for various compliances to be done under the Act, a reduction in the rate of interest for delay in compliance, issuance of refunds up to INR 500,000 as well as providing clarifications on the residential status of individuals who are stranded in India because of the pandemic. The major relaxations are highlighted below:
Note : The above reduction in rates shall not be applicable in the following scenarios: -
Particulars | Due date prescribed under the relevant Act/As per Ordinance | Extended Due date |
---|---|---|
Extension of time limit for making payment under the Vivad se Vishwas Scheme without the requirement of making 10% additional payment | 31 March 2020 / 30 June 2020 | 31 December 2020 |
Filing of return of income for AY 2020-21 | 31 July 2020 or 31 October 2020 | 30 November 2020 |
Furnishing of Tax Audit Report under Section 44AB | 30 September 2020 | 31 October 2020 |
Time limit for completion of assessment proceedings for AY 2018-19 | 30 September 2020 | 31 December 2020 |
Time limit for completion of assessment proceedings, which are becoming time-barred on 31 March 2021 | 31 March 2021 | 30 September 2021 |
Filing of original or revised returns for AY 2019-20 | 31 March 2020/ 30 June 2020 | 31 July 2020 |
Filing of Appeal under the Act | 30 June 2020 | 31 March 2021 |