Updated Some important dates related to income tax

Some important dates related to income tax

The Income Tax Department has extended the deadline for completing many tasks related to income tax for the convenience of taxpayers. In a notification issued by the Ministry of Finance, it has been said that in view of the difficulties being faced by the taxpayers due to Kovid-19, the deadline for tax related work has been extended.

Extended deadline for these compliances

  • According to Rule 31 of the Income Tax Act, 1962, the last date for issue of TDS certificate has been extended to 31st July, 2021. Earlier the deadline was June 15, 2021.
  • Under the tax rules, the tax deduction statement for the last quarter of the financial year 2020-21 has to be submitted on or before 15 July 2021. Earlier this date was May 31, 2021.
  • Statement of payment of income tax on behalf of investment fund or credit to the account of unit holder in Form No. 64D for 2020-21 can be submitted till July 15, 2021. Earlier this date was 15 June 2021.
  • Statement of payment of income tax on behalf of investment fund or credit to the account of unit holder in Form No. 64C for 2020-21 can be submitted till July 15, 2021. Earlier this date was 30 June 2021.
  • The option to withdraw the pending application (Income Tax Settlement Commission) can be exercised till 31 July 2021.

This year, the last date for filing personal ITR for 2020-21 has been extended to 30 September 2021 and 30 November 2021 for corporate in the circumstances of Covid.

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