Notification No. 38/2021 [F. No. 370142/35/2020-TPL] / SO 1703(E)

Last updated: 29 April 2021

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This notification from the Ministry of Finance extends the deadline for certain Income Tax actions. Specifically, the time limit for completing assessments and reassessments under the Income-tax Act, 1961, which was set to expire on April 30, 2021, has been further extended to June 30, 2021. This also applies to actions like issuing notices under section 148 and passing orders under section 144C.

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 27th April, 2021 S.O. 1703(E). In exercise of the powers conferred by sub-section (1) of section 3 of the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020

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FAQ :

The notification extends the deadline for specific Income Tax actions that were previously extended by earlier notifications.

The deadlines for passing orders for assessment or reassessment, passing orders under sub-section (13) of section 144C, and issuing notices under section 148 have been extended.

The new deadline for these actions is June 30, 2021.

The previous deadline, extended by earlier notifications, was April 30, 2021.

No, this extension specifically applies to certain actions related to assessment, reassessment, and notice issuance under the Income-tax Act, 1961, and Chapter VIII of the Finance Act, 2016.

For issuing notices under section 148 as per the time limit in section 149 or sanction under section 151, the provisions of sections 148, 149, and 151 of the Income-tax Act, as they stood on March 31, 2021, before the commencement of the Finance Act, 2021, shall apply.