The Income Tax Department has extended the date of many tax related work. The deadline for filing normalization fee details in Form-1 for the financial year 2020-21 has been extended up to December 31 as against the original due date of June 30.
The Income Tax Department on Sunday extended the deadline for various compliances, including filing of details for normalization fee (equalization levy) and remittance. The deadline for filing normalization fee details in Form-1 for the financial year 2020-21 has been extended up to December 31 as against the original due date of June 30. Quarterly statement in Form 15CC to be submitted by authorized dealers in respect of remittances made for June and September quarter can now be filed by 30 November and 31 December respectively.
The original due dates for filing this statement were July 15 and October 15, respectively. The Central Board of Direct Taxes (CBDT) said in a statement that it has been informed of the difficulties being faced by taxpayers and other stakeholders in electronically filing certain forms. Keeping this in mind, it has been decided to extend the dates of e-submission of these forms.
Vivad se Vishwas scheme date also extended
Meanwhile, the government has extended the date of payment under the direct tax resolution scheme ‘Vivad Se Vishwas’ by one month to 30 September. Under this scheme, disputed tax, interest, penalty and fee matters are resolved. In this, the matter is settled after payment of 100% disputed tax and 25% of disputed fine or interest or fee in any assessment or reassessment order.
In this, apart from exemption of interest, penalty, the taxpayer also gets exemption from any prosecution under the Income Tax Act. The Finance Ministry said in a statement that in view of the difficulties being faced in issuing and revising Form 3, it has been decided to extend the date of payment till September 30, 2021. Form 3 is required for payment under Vivad se Vishwas.
