New Delhi: Income Tax Deadline: The Central Board of Direct Taxes (CBDT) has once again extended the deadline for filling certain forms under the Income Tax Act. The CBDT observed that taxpayers and other stakeholders are finding it difficult to fill these forms electronically. Therefore, it was decided to extend the deadline of these forms.
Taxpayers are still facing difficulties in filing returns on the new income tax portal incometax.gov.in. CBDT has extended the deadline for submission of forms, let us understand them one by one.
1. Form 15CC Deadline Extended
In respect of remittances made for the quarter ending June 30, 2021, the quarterly statement in Form No. 15CC to be furnished by the authorized dealer is required to be furnished on or before July 15, 2021, now the deadline has been extended to August 31 Has been done.
2. Equalization Levy Statement – Form No- 1
The Equalization Levy Statement in Form No. 1 for the financial year 2020-21, which was required to be filed on or before June 30, 2021, has now been extended to August 31, 2021. The CBDT had earlier extended its deadline from June 25 to July 31, 2021.
3. Investment Fund – Form No. 64D
Details of income paid or deposited by an investment fund to its unitholders in Form No. 64D for the financial year 2020-21, under Rule 12CB, are required to be made on or before June 15. Now its deadline has been extended to September 15, 2021.
4. Pension Fund – Form No. II SWF
For every investment in India by a pension fund for the quarter ended June 30, 2021, the information in Form No. II SWF is required to be completed on or before July 31. Now its deadline has been extended to 30 September 2021.
5. Sovereign Wealth Fund – Form No. 10BBB
For every investment made in India by Sovereign Wealth Fund for the quarter ended June 30, 2021, the information in Form No. 10BBB is required to be completed on or before July 31. Now its deadline has been extended to 30 September 2021.
Nangia & Co LLP Partner Shailesh Kumar said that in view of technical glitches in the new income tax portal, taxpayers were facing a lot of problems in meeting such deadlines and many taxpayers could not even comply within the stipulated date. . He said that increasing the deadline will give relief to the taxpayers.