Direct tax – Important due dates for September 2021 and Notification/Circular/Press Release/Order of August 2021 – SK Patodia

Direct tax – Important due dates for September 2021 and Notification/Circular/Press Release/Order of August 2021

Due Date for Income tax Compliance (AUGUST 2021)

 

7th September 2021 Deposit of TDS/TCS deducted /collected for the month of August, 2021
14th September 2021 Issue of TDS Certificate for tax deducted under section 194-IA/194-IB and 194M in the month of July, 2021.
15th September 2021 Payment of Second instalment of advance tax for the assessment year 2022-23(FY 2021-22) for personals who required to pay Advance Tax.
30th September 2021 Furnishing of challan-cum-statement in respect of tax deducted under section 194-IA/194-IB and 194M in the month of August, 2021.
30th September 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 and Circular no. 12/2021, dated 25-06-2021)
30th September 2021 Return of income for the assessment year 2021-22 for all assessee other than (a) Company or (b) Firm (whose books of account are required to be audited) or (c) partner of a firm whose accounts are required to be audited or the spouse of such partner if the provisions of section5A applies or (d) an assessee who is required to furnish a report under section 92E.
( vide Circular no. 9/2021, dated 20-05-2021)

Income Tax Notifications and Circulars – August 2021

1. Extension of time lines for equalization levy statement

On consideration of difficulties reported by taxpayers & other stakeholders in electronic filing of equalization levy statement in Form 1 for FY 2020-21, CBDT has further extended the due date to 31st August 2021.

(Circular No.15/2021 dated 03.08.2021)

It was further extended to 31st December, 2021

(Circular No. 16/2021 dated 29.08.2021)

2. Reduction in grievance resolution time limit

As per recent circular, grievance under Covid 19 categories to be taken higher priority and for grievance received at CPGRAM (online platform for grievance to public authorities in central ministries and department, including Income Tax Department) will be resolved within 45 days (earlier 60 days).

3. Dedicated email ids for grievances

The Income Tax Department creates dedicated e-mail ids for registering grievances in respect of pending cases under the Faceless Scheme Grievances can be furnished as under:

For Faceless assessments: samadhan.faceless.assessment@incometax.gov.in

For Faceless penalty: samadhan.faceless.penalty@incometax.gov.in

For Faceless Appeals: samadhan.faceless.appeal@incometax.gov.in

4. SOPs issued for completing the penalties under the Faceless Scheme

SOPs were issued to all Chief Commissioners of Income-tax, Regional Faceless Assessment Centres, for completing the penalties under the Faceless Scheme (FAS). Penalties leviable by officers above the rank of Addl. CIT or by designated Authorities are not within the scope of FAS and it will not be handled by Faceless Penalty Unit (FPU). Further Penalties pertaining to Central Charge/International Taxation/TDS are also outside the scope of FAS.

Important points of SOP are as follows:-

  • As the quantum appeal matter is handled by JAO, all action relating to section 275(1A) which may result in impositions / enhancement / reduction of penalty shall be taken by JAO.
  • At the initial stage they may try to identify the cases which are’ kept in abeyance’.
  • Immunity to the assessee from levy of penalty (if application in form 68 is submitted within time) and Waiver of Penalties u/s 273A by Pr.CIT are outside the purview of FAS.
  • The assessee is given an opportunity to file a written reply and if required seek personal hearing after filing of written reply through VC. Looking to the timelines, 5 to 7 days time (flexible) should be given to the assessee to respond from the date of issue of notice. Amend the date of compliance if required to ensure adequate time.
  • Issue of another show cause notice by new FPU in case where the modifications suggested by the penalty review unit are prejudicial to the interest of assessee or any other person.
  • FPU may use ‘issue letter’ functionality to communicate with the assessee or third person, if any further information/clarification is required. Notice u/s 133 (6) or Summons u/s 131 may also be used, if required, for the purposes or penalty proceedings.
  • Reference to VU can be made as per the Scheme, wherever the FPU considers reference is necessary for the purpose of the proceedings.
  • Non responsive cases are proposed to be handled through service of notices through speed post by bulk letter generation facility.
  • In responsive cases, where it is considered necessary to conduct physical verification the same should be resorted to.
  • Draft penalty order may be well reasoned and speaking.
  • In non-responsive cases, the FPU may have a look at the base order as whether that was passed ex-parte or not. If the base order is an ex-parte order, the FPU may issue another show cause notice through ‘issue letter functionality providing the assessee opportunity as to why penalty may not be decided ex-parte. FPU should check if e-mail is delivered or not. A copy of the letter should also be sent through Speed Post. The FPO may check delivery of speed post through Speed Post number on the India Post Website. If it is delivered, FPU should wait for a reasonable time for the reply of the assessee. If it is not delivered, then FPU may go ahead with passing an ex-parte order.

 
(Letter dated 9th August 2021)

5. Extension of due date for Vivad se Vishwas Scheme

Date of payment under the Direct Tax Vivad se Vishwas Act, 2020 (without additional amount) extended to 30th September, 2021. The last date for payment of the amount (with additional amount) remains 31st October, 2021.

(Press release issued on 29th August 2021)

6. Extension of due dates for electronic filing of various Forms

CBDT extends due dates for electronic filing of various Forms under the Income-tax Act, 1961. Summary of important due dates are as under:

  • The application for registration or intimation or approval may be filed on or before 31 March, 2022
  • The Equalization Levy Statement in for the Financial Year 2020 21, may be filed on or before 31 December, 2021.
  • Uploading of the declarations received from recipients in Form No. 15G/15H during the quarter ending 30 June, 2021, may be uploaded on or before 30 November, 2021
  • Uploading of the declarations received from recipients in Form No. 15G/15H during the quarter ending 30 September, 2021, may be uploaded on or before 31st December, 2021
  • For other due dates related to Form 15CC, Form II SWF, 10BBB, 3CEAC, 3CEAD, 3CEAE; kindly refer to detailed circular.

 
(Circular No. 16/2021 dated 29.08.2021)