Tax exemptions announced by the Government

Exemption for amount received for medical treatment

It has been decided to provide income-tax exemption on the amount received by a taxpayer for medical treatment from employer or from any person for treatment of Covid-19 during F.Y. 2019-20 and subsequent years.

Exemption for ex-gratia payment on death owing to Covid-19

In order to provide relief to the family members of taxpayers who lost their lives due to Covid-19, it has been decided to provide income-tax exemption to ex-gratia payment received by family members of a person from the employer of such person or from other person on death of the person on account of Covid-19 during F.Y. 2019-20 and subsequent years.

The exemption will be subject to following limits:

• No maximum exemption limit where ex-gratia amount received from the employer
• Maximum exemption of Rs. 10 Lakhs in case amount is received from other persons.

Extension of due date for Income Tax compliances

Compliance under Income Tax

Original or extended due date

Revised or further extended due date

Objections to Dispute Resolution Panel (DRP) and A.O. under section 144C of the Income Tax Act

 Where last date of filing is 1^st June 2021 or thereafter

Extended to time provided in the section or 31^st August, whichever is later

Statement of deduction of tax (TDS returns) for the last quarter of F.Y. 2020-21

31^st May, 2021 (extended to 30^th June 2021)

15^th July, 2021

Issuance of TDS certificate to employees in Form No. 16

15^th June, 2021 (extended to 15^th July, 2021)

31^st July, 2021

Statement of Income paid or credited by an investment fund to its unitholder in Form No. 64D for the F.Y. 2020-21

15^th June, 2021 (extended to 30^th June, 2021)

15^th July, 2021

Statement of Income paid or credited by an investment fund to its unit holder in Form No. 64C for the F.Y. 2020-21

30^th June, 2021 (extended to 15^th July, 2021)

31^st July, 2021

Application under Section 10(23C), 12AB, 35(1)(ii)/(iia)/(iii) and 80G of the Act in Form No. 10A/ Form No. 10AB for registration/ provisional registration/ intimation/ approval/ provisional approval of trusts/ institutions/ Research Associations etc.

30^th June, 2021

31^st August, 2021

Time limit to invest, deposit, payment, acquisition, purchase, construction for the purpose of claiming any exemption under section 54 to 54GB of the Act

Where the last date of such compliance falls between 1^st April 2021 to 29^th September, 2021

On or before 30^th September, 2021

Quarterly Statement in Form No. 15CC to be furnished by authorized dealer in respect of remittances for the quarter ending on 30^th June, 2021

15^th July, 2021

31^st July, 2021

Equalization Levy Statement in Form No. 1 for the F.Y. 2020-21

30^th June, 2021

31^st July, 2021

Annual Statement to be furnished under section 9A (5) by the eligible investment fund in Form No. 3CEK for the F.Y. 2020-21

29^th June, 2021

31^st July, 2021

Uploading declarations in Form No. 15G/15H for the quarter ending 30^th June, 2021

15^th July, 2021

31^st August, 2021

Exercising of option to withdraw pending application filed before the Income Tax Settlement Commission u/s 245M (1) of the Act in Form No. 34BB

On or before 27^th June, 2021

31^st July, 2021

Linking Aadhar with PAN

30^th June, 2021

30^th September, 2021

Last date of payment under Vivad Se Vishwas Scheme (without additional amount)

30^th June, 2021

31^st August, 2021

Last date of payment of amount under Vivad Se Vishwas Scheme (with additional amount)

31^st October, 2021

Time Limit for passing assessment order

Earlier extended to 30^th June, 2021

30^th September, 2021

Time limit for passing penalty order

Earlier extended to 30^th June, 2021

30^th September, 2021

Time Limit for processing Equalization Levy Returns

30^th June, 2021

30^th September, 2021