CS Lalit Rajput
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Central Board of Direct Taxes (CBIC), Ministry of Finance, (Department of Revenue), vide Gazette ID CG-DL-E-27022021-225559 and Notification No. 10/2021/F. No. 370142/35/2020-TPL dated 27th February, 2021 has come up with the notification in partial modification of the notification of the Government
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FAQ :
The end date for the period during which the time limit for imposing penalties under Chapter XXI of the Income-tax Act falls is 29th June 2021, and the time limit for completion of such action is extended to 30th June 2021.
For actions where the time limit expires on 31st March 2021, the deadline for assessment or re-assessment is extended to 30th April 2021. If not covered by this, and the deadline expires on 31st March 2021, it is extended to 30th September 2021.
The extensions are detailed in Notification No. 10/2021/F. No. 370142/35/2020-TPL dated 27th February, 2021, issued by the Central Board of Direct Taxes (CBIC).
For actions related to issuing notices or passing orders under the Prohibition of Benami Property Transaction Act, 1988, the time limit is extended to 30th September 2021.
These extensions are made under the powers conferred by sub-section (1) of section 3 of the Taxation and Other Laws (Relaxation of Certain Provisions) Act, 2020.
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