Press Release for Extension of Timelines
Vide press release dated 24th April, 2021, the Central Government has announced extension of the time limits to 30th June, 2021 in the following cases where the time limit was earlier ending on 30th, April 2021 (extended time limit). The following time limits have been extended, namely: –
- Time limit for passing of any order for assessment or reassessment under the Income-tax Act, 1961(hereinafter called ‘the Act’) the time limit for which is provided under Section 153 or Section 153B thereof;
- Time limit for passing an order consequent to direction of DRP under sub-section (13) of Section 144C of the Act;
- Time limit for issuance of notice under Section 148 of the Act for reopening the assessment where income has escaped assessment;
- Time Limit for sending intimation of processing of Equalisation Levy under sub-section (1) of Section 168 of the Finance Act 2016.
- Time for payment of amount payable under the Direct Tax Vivad se Vishwas Act, 2020, without an additional amount.
Notification for extension of the above dates will be issued in due course of time.