Respite To Taxpayers! Govt Extends Deadline For Making Payment Under 'Vivad Se Vishwas Act' Till June 30 Amid Covid Crisis
The Union Finance Ministry in a release said this has been done in view of requests received from taxpayers, tax consultants and other stakeholders that various time barring dates, which were earlier extended to April 30, 2021, by various notifications, as well as under the Direct Tax Vivad se Vishwas Act, 2020, may be further extended.
New Delhi: In view of the severe Covid-19 pandemic raging unabated across the country affecting the lives of people, the government on Saturday extended certain timelines in order to give respite to the taxpayers.
The Union Finance Ministry in a release said this has been done in view of requests received from taxpayers, tax consultants and other stakeholders that various time barring dates, which were earlier extended to April 30, 2021, by various notifications, as well as under the Direct Tax Vivad se Vishwas Act, 2020, may be further extended.
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In the light of several representations received (supra) and to address the hardship being faced by various stakeholders, the Centre has decided to extend the time limits to June 30, 2021, in the following cases where the time limit was earlier extended to April 30, 2021, through various notifications issued under the Taxation and Other Laws (Relaxation) and Amendment of Certain Provisions Act, 2020, namely:-
- Time limit for passing of any order for assessment or reassessment under the Income-tax Act, 1961 (hereinafter called 'the Act') the time limit for which is provided under Section 153 or Section 153B thereof;
- Time limit for passing an order consequent to direction of DRP under sub-section (13) of Section 144C of the Act;
- Time limit for issuance of notice under Section 148 of the Act for reopening the assessment where income has escaped assessment;
- Time Limit for sending intimation of processing of Equalisation Levy under sub-section (1) of section 168 of the Finance Act 2016.
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The Finance Ministry said it has also been decided that time for payment of amount payable under the Direct Tax Vivad se Vishwas Act, 2020, without an additional amount, shall be further extended to June 30, 2021, adding the notifications to extend the mentioned dates shall be issued in due course.
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