Quick Summary
In a move to provide relief to taxpayers, the Central Board of Direct Taxes (CBDT) has issued Circular No. 04/2024 dated March 07, 2024, announcing the ex-post facto extension of the due date for filing Form No. 26QE. This circular pertains to the period from July 01, 2022, to February 28, 2023, cor
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FAQ :
Form No. 26QE is a challan-cum-statement used to report tax deductions made under section 194S of the Income-tax Act, 1961, on the transfer of virtual digital assets.
A 'specified person' responsible for paying consideration for the transfer of a virtual digital asset is required to deduct tax and file Form No. 26QE.
The extended due date applies to tax deductions made under section 194S during the period from July 1, 2022, to February 28, 2023.
The new due date for filing Form No. 26QE for the specified period is May 30, 2023.
No, any fee levied under section 234E and/or interest charged under section 201 (1A)(ii) for the period up to May 30, 2023, will be waived.
The due date was extended ex-post facto due to the unavailability of Form No. 26QE for some taxpayers and insufficient time to file for others, to address their grievances.
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