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Relief, exemptions, and extensions by the government
In another set of the beneficiary amendment, the government granted extension in timelines of compliances and notified tax exemptions for expenses incurred in covid 19 treatment and ex gratia payment received on account of death. Vide press release dated 25.06.2021, the government made the following announcements: - (a) Tax exemption to the taxpayers on money received from their employer and relatives for meeting covid-19 medical expenses during FY 2019-2020 and following years. (b) Tax exemptions towards the ex-gratia payments given by the employer to the family members of the person, who succumbs to covid-19 during FY 2019-2020 and subsequent years.
Moreover, the exemption is without an upper limit, and the exemption is limited to INR 10 Lakhs in aggregate for the money received from any other person. Further, the government considering the difficulty of the taxpayers while doing compliances, also announced the following extension of timelines vide notification no. 74/2021 & 75/2021 dated June25, 2021 Circular no. 12/2021 dated June 25, 2021:- Extensions
| Sr. no. | Particulars | Earlier date | Extended date |
| 1. | Objections under Section 144C of the Income Tax Act, 1961 (“Act”) to dispute resolution panel and assessing officer | June 01, 2021, or thereafter. | Within in the time provided in the Section or August 31, 2021 (whichever is later) |
| 2. | Tax deduction statement for the last quarter of the FY 2020-2021 | May 21, 2021 | July 15, 2021 |
| 3. | TDS certificate in Form 16 to be supplied to the employee | May 21, 2021 | July 31, 2021 |
| 4. | Statement of income paid or credited by an investment fund for the FY 2020-2021 in Form No. 64 D | Till June 30, 2021 | Till July 15, 2021 |
| 5. | Application for approval/registration/intimation/provisional registration and approval of research association/trusts/institution in form no. 10 A/10AB under Section 10(23C), 12(AB), 35(1)(ii)/(iia)/(iii) and 80G | Till June 30, 2021 | Till July 31, 2021 |
| 6. | Compliance for claiming exemptions under Section 54 to 54GB of the Act for payments Deposit, construction, payment, purchase, etc., | April 01, 2021, to September 29, 2021 | Till September 30, 2021 |
| 7. | Quarterly statement of remittance by the authorised dealer in Form No. 15CC for the quarter ending on June 30, 2021, under Rule 37 BB | Till July 15, 2021 | Till July 31, 2021 |
| 8. | Equalisation Levy Statement in Form No. 1 for FY 2020-21 | Till June 30, 2021 | Till July 31, 2021 |
| 9. | An annual statement under Section 9A (5) of the Act in Form no. 3CEK by the eligible investment fund for the FY 2020-2021 | Till June 29, 2021 | Till July 31, 2021 |
| 10. | date of uploading the declarations for the quarter ending on June 30, 2021, received from recipient in Form no.15G/H | Till June 30, 2021 | Till August 31, 2021 |
| 11. | Withdrawal of pending application under Section 245M(1) of the Act in Form No.34BB | Till June 27, 2021 | Till July 31, 2021 |
| 12. | Last date of linking Aadhar card to the PAN under Section 139 AA of the Act | June 30, 2021 | September 30, 2021 |
| 13. | Parties can now pay the amount due under Vivad se Vishwas (without any additional amount) | June 30, 2021 | August 31, 2021 |
| 14. | Parties can now pay the amount due under Vivad se Vishwas (with any additional amount) | October 31, 2021 | |
| 15. | The time limit for passing the assessment order | June 30, 2021 | September 30, 2021 |
| 16. | The Time limit for passing a penalty order | June 30, 2021 | September 30, 2021 |
| 17. | The Time limit for processing Equalisation Levy returns | June 30, 2021 | September 30, 2021 |
Reference: https://www.pib.gov.in/PressReleasePage.aspx?PRID=1730355
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