Direct Tax Alert - CBDT further extends due dates for e-filing of various Forms under Income-tax Act, 1961
Background
Since its launch, the new income tax portal has been facing various technical glitches resulting into difficulties in operation of the portal by the taxpayers. Taking cognisance of the difficulties reported by the taxpayers and other stakeholders in electronic filing of certain Forms under the provisions of the Income-tax Act, 1961 (IT Act) read with Income-tax Rules, 1962 (IT Rules), the Central Board of Direct Taxes (CBDT) had issued a circular1 dated 3 August 2021 to extend the due dates for certain compliances. However, the taxpayers and other stakeholders are still facing difficulties in electronic filing of certain Forms owing to which the CBDT has extended the due dates further by issuing a circular2.
We, at BDO in India, have analysed and summarised the said circular hereunder:
|
Particulars |
Relevant Period covered |
Original Due date |
Extended due date3 |
Revised due date after further extension |
|
Quarterly statement by authorised dealers in respect of foreign remittances made in Form 15CC |
1 April 2021 to 30 June 2021 |
15 July 2021 |
31 August 2021 |
30 November 2021 |
|
1 July 2021 to 30 September 2021 |
15 October 2021 |
- |
31 December 2021 |
|
|
Uploading of the declarations received from recipients in Form 15G/15H during the relevant period |
1 April 2021 to 30 June 2021 |
15 July 2021 |
31 August 2021 |
30 November 2021 |
|
1 July 2021 to 30 September 2021 |
15 October 2021 |
- |
31 December 2021 |
|
|
Equalisation levy statement in Form 1 |
FY 2020-21 |
30 June 2021 |
31 August 2021 |
31 December 2021 |
|
Application for registration or intimation or approval under section 10(23C), 12A, 35(1)(ii)/(iia)/(iii) or 80G of the IT Act (Form 10A)
|
- |
30 June 2021 |
31 August 2021 |
31 March 2022 |
|
Application for registration or approval under section 10(23C), 12A or 80G of the IT Act for which the last date of filing falls on 28 February 2022 (Form 10AB)
|
- |
28 February 2022 |
- |
31 March 2022 |
|
Intimation by a Pension Fund in respect of each investment made by it in India (Form 10BBB) during the relevant period |
1 April 2021 to 30 June 2021 |
31 July 2021 |
30 September 2021 |
30 November 2021 |
|
1 July 2021 to 30 September 2021 |
31 October 2021 |
- |
31 December 2021 |
|
|
Intimation by Sovereign Wealth Fund in respect of investments made by it in India (Form II SWF) during the relevant period |
1 April 2021 to 30 June 2021 |
31 July 2021 |
30 September 2021 |
30 November 2021 |
|
1 July 2021 to 30 September 2021 |
31 October 2021 |
- |
31 December 2021 |
|
|
Filing of intimation by a resident constituent entity of an international group having non-resident parent entity under section 286(1) of the IT Act read with Rule 10DB of IT Rules in Form 3CEAC
|
FY 2020-21 |
On or before 30 November 2021 |
- |
31 December 2021 |
|
Report by a parent entity or an alternate reporting entity or any other resident constituent entity under section 286(2) or 286(4) of the IT Act read with Rule 10DB of IT Rules in Form 3CEAD |
FY 2020-21 |
On or before 30 November 2021 |
- |
31 December 2021 |
|
Intimation on behalf of an international group under proviso to section 286(4) read with Rule 10DB of IT Rules in Form 3CEAE |
FY 2020-21 |
On or before 30 November 2021 |
- |
31 December 2021 |
BDO Comments
Considering the persisting glitches in the new income tax portal and deadline of 15 September 2021 given to Infosys team to resolve them, the extension of deadlines for various compliances is a welcome move. Having said this, the deadline for resolving the glitches is merely 15 days before the return filing due date of 30 September 2021, this Circular is silent on the extension of such return filing due date. Furthermore, it is imperative to note that there is no extension in deadlines for manual filing of Form 15CA / CB (which expired on 15 August 2021) even though many stakeholders are still facing problems in uploading these Forms.
In addition to the above-mentioned Circular, the CBDT has issued press release dated 29 August 2021 extending the last date of payment under Vivad se Vishwas Act, 2020 (without any additional amount) to 30 September 2021 from the earlier extended date of 31 August 2021. However, the said press release is silent on the last date for such payment (with additional amount) which expires on 31 October 2021. It is expected that a necessary circular / notification for extension shall be issued shortly.
1Circular No.15/2021, dated 3 August 2021. Refer our tax alert - https://www.bdo.in/en-gb/insights/alerts-updates/direct-tax-alert-cbdt-further-extends-due-dates-of-certain-income-tax-forms
2Circular No.16/2021, dated 29 August 2021.
3As extended by Circular No. 12/2021 and Circular No. 15/2021, as the case may be.