Income Tax Return Due Dates for TDS, Form 16, and the Vivad se Vishwas Scheme Has Been Extended
favicon

Income Tax Return Due Dates for TDS, Form 16, and the Vivad se Vishwas Scheme Has Been Extended

  1. The deadline for submitting TDS returns for the final quarter of the fiscal year 2020-21 has been extended. Taxpayers can now file TDS returns until July 15.
  2. In addition, the deadline for submitting Form 16 has been extended until July 31. Previously, the deadline for this was July 15.
  3. The deadline for linking your PAN card to Adhaar has been pushed back to September 30, after which your PAN card will be rendered inoperable and you may be fined Rs 1,000 for failing to do so on time.
  4. The deadline for the Vivad se Vishwas scheme has also been extended until August 31, and the deadline for payment has been extended to October 31.
  5. The tax on ex-gratia payments will be exempted without limit for those who lost a family member as a result of COVID-19. Such transactions will be exempt up to Rs 10 lakh.
  6. The deadline for submitting the Statement of Income under Form No. 64D for the fiscal year 2020-21 is July 15.
  7. The deadline for claiming the special tax relief on residential property investment has also been extended by more than three months.
  8. Furthermore, the deadline for claiming any exemption under the provisions of Sections 54 to 54GB of the Act can be extended until September 30.
  9. The deadline for approving the assessment and penalty orders has also been extended to September 30.
  10. Lastly, until August 31st, applications for ‘‘registration/provisional registration/intimation/approval/provisional approval of Trusts/Institutions/Research Associations, etc.” can be submitted.

Shashank Udyawar

Leave a Reply

Open chat