Direct tax – Due dates for June 2021 and Notification/Circular of May 2021 – SK Patodia

Direct tax – Due dates for June 2021 and Notification/Circular of May 2021

Due Date for Income tax Compliance (JUNE 2021)

7th June 2021 Deposit of TDS/TCS deducted /collected for the month of May,2021
14th June 2021 Issue of TDS Certificate for tax deducted under section 194-IA/194-IB and 194M in the month of April, 2021
15th June 2021 Payment of First instalment of advance tax for the assessment year 2022-23(FY 2021-22) for personals who required to pay Advance Tax
15th June 2021 Quarterly TDS certificates (in respect of tax deducted for payments other than salary) for the quarter ending March 31, 2021
30th June 2021 TDS return filing for the quarter ending March 31, 2021(Vide Circular 09/2021, dated 20-05-2021)
30th June 2021 Furnishing of challan-cum-statement in respect of tax deducted under section 194-IA/194-IB and 194M in the month of May, 2021
30th June 2021 PAN and Aadhar linking for personals who have not linked their Aadhar with PAN Card (Vide Notification S.O. 1432(E) , dated 31-03-2021)
30th June 2021 Filling of Statement of Financial Transactions (‘SFT’) form in Form no. 61 for the transactions undertaken in Financial year 2020-21(Vide Circular 09/2021, dated 20-05-2021)
30th June 2021 Payment of tax under the Direct Tax Vivad se Vishwas Act, 2020 without additional charge (vide Notification No. 39/2021, dated 27-04-2021)
30th June 2021 Furnishing of statement of financial transaction (in Form No. 61A) or statement of reportable accounts (in Form No. 61B) as case may be, for calendar year 2020 by reporting financial institutions(Vide Circular 09/2021, dated 20-05-2021)
30th June 2021 Furnishing of Form 24G by an office of the Government where TDS/TCS for the month of May, 2021 has been paid without the production of a challan(Vide Circular 09/2021, dated 20-05-2021)

Notifications and Circulars

  • Granting relaxation under provision of section 269ST of the act

Income tax has provided relief, to Hospitals or similar other medical facilities providing Covid treatment to patients, to receive cash payment of Rs.2 lakh or more between 1/04/2021 to 31/05/2021,after obtaining PAN or Aadhaar of patient and the payer for the purpose of Section 269ST of Income tax act.

(Notification No.56/2021/F. No. 225/58/2021-ITA.II, dated 7th May 2021)

  • Extension of time limit of certain compliances

The Central Board of Direct Taxes extended the due date of certain income tax compliances to provide relief to taxpayers in view of the severe pandemic.

(Circular No. 09 of 2021, Dated 20th May, 2021

The CBDT clarification regarding the limitation time for filing of appeals before the CIT(Appeals) under the Income-tax Act,1961

On 30th April 2021 the Central Board of Direct Taxes has extending time for filing the appeals before CIT (Appeals) till 31st May 2021(Circular NO. 08 of 2021). However, the Central Board of Direct Taxes clarifies in consonance with directions issued by Hon’ble Supreme Court in Suo Motu WP(Civil) No 3 of 2020 vide order dt 27th Apr, 2021 that said limitation stands extended till further order as ordered by Hon’ble Supreme Court.

(Circular No. 10 of 2021, Dated 25th May, 2021)