Page 456 - ES 2020-21_Volume-1-2 [28-01-21]

Fiscal Developments 83

ANNEX

Annex 1: CBDT’s response to COVID-19 pandemic during 2020-21

In view of the challenges faced by taxpayers in meeting the statutory and regulatory compliance
requirements across sectors due to the outbreak of Novel Corona Virus (COVID-19), the
Government of India has taken following measures pertaining to direct taxes to support
businesses and individuals:

(i) The Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020
has been enacted under which:
(a) Various time limits for compliances and statutory actions under the taxation laws, other
related legislations and the rules or notifications prescribed/ issued under these Acts
have been extended;
(b) Interest for delay in payment of income-tax (e.g. advance tax, TDS, TCS), Equalization
Levy, Securities Transaction Tax (STT), Commodities Transaction Tax (CTT) due
for payment from 20.03.2020 to 29.06.2020 to be charged at reduced rate of 9% per
annum (0.75% per month), if the payment is paid by 30.06.2020. Further, no penalty/
prosecution shall be initiated for these non-payments.

(c) Extension of date for application of amount payable under the Direct Tax Vivad se
Vishwas Act, 2020 [enacted for resolution of pending disputes related to the Act] from
31.03.2020 to 31.01.2021 without payment of additional amount. Further, the due date
of payment of tax without additional amount extended to 31.03.2021;

(d) The time for filing of original as well as revised income-tax returns for FY 2018-19
(relevant to AY 2019-20) has been extended to 30th November, 2020;

(e) Due date for filing ITR for FY 2019-20 (relevant to AY 2020-21) extended for
individuals etc. to 10 January, 2021 for non-audited assesses and for assesses who are
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required to audit their accounts, it has been extended to 15 February, 2021. Due date
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for furnishing of tax audit report has also been extended from existing 30th September,
2020 to 15 January, 2021;
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(f) The date for payment of self-assessment tax in case of taxpayers whose self-assessment
tax liability is up to ` 1 Lakh has been extended to 10 January, 2021 (for non-auditable
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cases) and to 15 February, 2021 (for cases where tax audit is mandatory);
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(g) The date for making various investment/payment for claiming deduction under Chapter
VIA-B of the Act has also been extended to 31 July, 2020;
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(h) The date for making investment/construction/purchase/deduction in respect of capital
gains under section 54 to 54GB of the Act has been extended to 30 September, 2020;
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(i) the date for commencement of operation for the SEZ units for claiming deduction
under section 10AA of the Act has also been extended to 30th September, 2020 for the
units which have received necessary approval by 31 March, 2020;
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(j) The time limit for furnishing of TDS/TCS statements and issuance of TDS/TCS
certificates in relation to FY 2019-20 has been extended to 31 July, 2020 and 15th
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August, 2020 respectively;
(k) The date for passing of order or issuance of notice by the authorities and various