The Central Government, in continuation of its commitment to address the hardship being faced by various stakeholders on account of the Covid-19 pandemic, has, on consideration of representations received from various stakeholders, decided to extend timelines for compliances under the Income-tax Act, 1961 (hereinafter referred to as “the Act”) in the following cases, as under:
- Time limit for intimation of Aadhaar number to the Income tax Department for linking of PAN with Aadhaar has been extended from 30th September, 2021 to 31st March, 2022.
- The due date for completion of penalty proceedings under the Act has also been extended from 30th September, 2021 to 31st March, 2022.
Further, the time limit for issuance of notice and passing of order by the Adjudicating Authority under the Prohibition of Benami Property Transactions Act, 1988 has also been extended to 31st March, 2022.
Notification no. 113 of 2021 dated 17th September, 2021 has been issued in this regard and can be accessed at www.incometaxindia.gov.in.
Earlier the due date for linking PAN and Aadhar was extended to 30.09.2021: Due date for filing TDS return Q4 FY 2020-21, application for trust re-registration, claiming tax exemption u/s 54 etc – Taxontips
Further, not linking PAN and Aadhar could lead to a penalty of Rs. 1,000 u/s 234H and there could be higher deduction of TDS for invalid PAN under section 206AA.
Also, as per the above Press release due date for completion of penalty proceedings has been extended and not assessment proceedings and hence due date for completion of various assessment proceedings under section 143(3) and 147 is still 30.09.2021.
To read full Press release CLICK HERE.
Disclaimer: The views presented in the above article are personal views of our team and has no legal binding. For any legal opinion consult a tax professional.
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