Government has come up with respite measures during this pandemic with following relaxation announced on 1st May, 2021.
In exercise of its powers under Section 119 of the Income-tax Act, 1961, provides following relaxation in respect of Income-tax compliances by the taxpayers:
Contents
Appeal cases
-Appeal to Commissioner (Appeals) under Chapter XX of the Act, for which the last date of filing under that Section is 1st April, 2021 or thereafter, may be filed within the time provided under that Section or by 31st May, 2021, whichever is later;
DRP filings
-Objections to Dispute Resolution Panel (DRP) under Section 144C of the Act, for which the last date of filing under that Section is 1st April, 2021 or thereafter, may be filed within the time provided under that Section or by 31st May, 2021, whichever is later;
Time extension for Section 148 cases
-Income-tax return in response to notice under Section 148 of the Act, for which the last date of filing of return of income under the said notice is 1st April, 2021 or thereafter, may be filed within the time allowed under that notice or by 31st May, 2021, whichever is later;
Extension for belated ITR for AY 20-21
-Filing of belated return under sub-section (4) and revised return under sub-section (5) of Section 139 of the Act, for Assessment Year 2020-21, which was required to be filed on or before 31st March, 2021, may be filed on or before 31st May, 2021;
TDS u/s 194IA, 194IB, 194M
-Payment of tax deducted under Section 194-IA, Section 194-IB and Section 194M of the Act, and filing of challan-cum-statement for such tax deducted, which are required to be paid and furnished by 30th April, 2021(respectively) under Rule 30 of the Income-tax Rules, 1962, may be paid and furnished on or before 31st May, 2021;
Statement in Form No 61
-Statement in Form No. 61, containing particulars of declarations received in Form No.60, which is due to be furnished on or before 30th April, 2021, may be furnished on or before 31st May, 2021.
| Sl No | Section | Nature of payment | Normal Rate (%) | FY21-22 (%) |
|---|---|---|---|---|
| 1 | 192 | Payment of Salary | Normal Slab Rate | Normal Slab Rate |
| 2 | 192A | Premature withdrawal from EPF | 10 | 10 |
| 3 | 193 | Interest on securities. a) any debentures or securities for money issued by or on behalf of any Local Authority / Statutory Corporation b) any listed debentures issued by a company (not being listed securities in demat form); c) any securities of Central or State Government d) any other interest on securities (including interest on unlisted debentures) | 10 | 10 |
| 4 | 194 | Dividends included deemed dividend u/s 2(22)€ | 10 | 10 |
| 5 | 194A | Interest (Banking companies, co-operative society engaged in banking activity, post office) | 10 | 10 |
| 6 | 194A | Interest (any other person) | 10 | 10 |
| 7 | 194B | Winning from lotteries | 30 | 30 |
| 8 | 194BB | Winning from Horse race | 30 | 30 |
| 9 | 194C | Payment to resident contractor / sub-contractor > Individual/HUF > Others (other than individual / HUF) | 1 2 | 1 2 |
| 10 | 194D | Insurance commission > Other than Domestic Company > Domestic Company | 5 10 | 5 10 |
| 11 | 194DA | Payment in respect of Life Insurance Policy (when no exemption available) | 5 | 5 |
| 12 | 194EE | Deposits under NSS (National Saving Scheme) | 10 | 10 |
| 13 | 194F | Repurchase units by MFs or UTI | 20 | 20 |
| 14 | 194G | Commission on sale of Lottery tickets | 5 | 5 |
| 15 | 194H | Commission or Brokerage | 5 | 5 |
| 16 | 194I | > Rent of Plant / Machinery / Equipment > Rent on Land and Building / Furniture & Fixture | 2 10 | 2 10 |
| 17 | 194IA | Transfer of certain immovable property other than rural agriculture land | 1 | 1 |
| 18 | 194IB | Rent by Individual / HUF (not liable to tax audit) | 5 | 5 |
| 19 | 194IC | Payment under Joint Development Agreements to resident Individual/HUF | 10 | 10 |
| 20 | 194J | Professional Fees | 10 | 10 |
| 21 | 194J | Director's fees | 10 | 10 |
| 22 | 194J | Fees for Technical Service (w.e.f. 01.04.2020) | 2 | 2 |
| 23 | 194J | Payment to call centre operator (w.e.f. 01.06.2017) | 2 | 2 |
| 24 | 194J | Royalty as consideration for sale, distribution or exhibition of cinematographic films | 2 | 2 |
| 25 | 194K | Payment of any income in respect of units of a mutual fund as per section 10(23D) / the units from the administrator / units from specified company | 10 | 10 |
| 26 | 194LA | Payment of compensation on acquisition certain immovable property other than agriculture land | 10 | 10 |
| 27 | 194LBA(1) | Payment in nature referred to in section 10(23FC) or Section 10(23FCA) by business trust to resident unit holders | 10 | 10 |
| 28 | 194LBB | Income in respect of units of investment fund specified in section 115UB | 10 | 10 |
| 29 | 194LBC | Income in respect of investment in securitization fund > Individual/HUF > Domestic Company > Any other persons | 25 30 30 | 25 30 30 |
| 30 | 194M | Payment by Individual/ HUF to resident contractor or professional or commission or brokerage (not falling in 194C / 194H / 194J) | 5 | 5 |
| 31 | 194N | Payment of certain amount in cash | 2 | 2 |
| 32 | 194N | Payment of certain amount in cash (first proviso of section 194N) if > Amount is more than Rs.20 lakh but up to Rs. 1 crore > Amount exceeds Rs. 1 crore (Applicable from 01.07.2020) | 2 5 | 2 5 |
| 33 | 194-O | Applicable for e-commerce operator for the sale of goods or provision of services facilitated by it through its digital or electronic facility or platform (Applicable from 1st October 2020) | 1 | N.A. |
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