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Part A
- Many taxpayers have received financial help from their employers and well-wishers for meeting their expenses incurred for treatment of Covid-19. In order to ensure that no income tax liability arises on this account, it has been decided to provide income-tax exemption to the amount received by a taxpayer for medical treatment from employer or from any person for treatment of Covid-19 during FY 2019-20 and subsequent years.
- Unfortunately, certain taxpayers have lost their life due to Covid-19. Employers and well-wishers of such taxpayers had extended financial assistance to their family members so that they could cope with the difficulties arisen due to the sudden loss of the earning member of their family.
- In order to provide relief to the family members of such taxpayer, it has been decided to provide income-tax exemption to ex-gratia payment received by family members of a person from the employer of such person or from other person on the death of the person on account of Covid-19 during FY 2019-20 and subsequent years. The exemption shall be allowed without any limit for the amount received from the employer and the exemption shall be limited to Rs.10 lakh in aggregate for the amount received from any other persons.
Necessary legislative amendments for the above decisions shall be proposed in due course of time.
Part-B
| S.No | Particular | Due date | Extended Due date |
| 1 | Objections to Dispute Resolution Panel (DRP) and Assessing Officer under section 144C of the Income-tax Act, 1961 | 01-06-2021 | 31-08-2021 |
| 2 | The Statement of Deduction of Tax ( Q4 of FY 2020-21) | 31-05-2021 | 15-07-2021 |
| 3 | The Certificate of Tax Deducted at Source in Form No.16 ( Q4 of FY 2020-21) | 15-06-2021 | 31-07-2021 |
| 4 | The Statement of Income paid or credited by an investment fund to its unit holder in Form No. 64D for the FY 2020-21 ( Rule 12CB) | 15-06-2021 | 15-07-2021 |
| 5 | The Statement of Income paid or credited by an investment fund to its unit holder in Form No. 64C for the FY 2020-21 ( Rule 12CB) | 30-06-2021 | 31-07-2021 |
| 6 | The application under Section 10(23C), 12AB, 35(1)(ii)/(iia)/(iii) and 80G of the Act in Form No. 10A/ Form No.10AB | 30-06-2021 | 31-08-2021 |
| 7 | The compliances to be made by the taxpayers such as investment, deposit, payment, acquisition, purchase, construction or such other action, by whatever name called, for the purpose of claiming any exemption under the provisions contained in Section 54 to 54GB of the Act, for which the last date of such compliance falls between 1st April, 2021 to 29th September, 2021 (both days inclusive) | 30-09-2021 | |
| 8 | Quarterly Statement in Form No. 15CC (remittances made for the quarter ending on 30th June, 2021) under Rule 37BB | 15-07-2021 | 31-07-2021 |
| 9 | Equalization Levy Statement in Form No. 1 for the Financial Year 2020-21 | 30-06-2021 | 31-07-2021 |
| 10 | Annual Statement under sub-section (5) of section 9A of the Act by the eligible investment fund in Form No. 3CEK for the FY 2020-21 | 29-06-2021 | 31-07-2021 |
| 11 | Uploading of the declarations received from recipients in Form No. 15G/15H during the quarter ending 30th June, 2021 | 15-07-2021 | 31-08-2021 |
| 12 | Exercising of option to withdraw pending application (filed before the erstwhile Income Tax Settlement Commission) under sub-section (1) of Section 245M of the Act in Form No. 34BB | 27-06-2021 | 31-07-2021 |
| 13 | linkage of Aadhaar with PAN under section 139AA of the Act | 30-09-2021 | |
| 14 | Last date of payment of amount under Vivad se Vishwas(without additional amount) | 30-06-2021 (Extended) | 31-08-2021 |
| 15 | Last date of payment of amount under Vivad se Vishwas (with additional amount) | 31-10-2021 | |
| 16 | Time Limit for passing assessment order | 30-06-2021 (Extended) | 30-09-2021 |
| 17 | Time Limit for passing penalty order | 30-06-2021 (Extended) | 30-09-2021 |
| 18 | Time Limit for processing Equalisation Levy returns | 30-06-2021 (Extended) | 30-09-2021 |
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Categories: Income Tax