REQUIREMENTS FOR COMPLIANCE WITH THE INCOME TAX ACT OF 1961
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Sl. |
Compliance Particulars |
Due Dates
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1 |
TDS/TCS obligations for the previous month are due on this day. |
07.09.2021 |
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2. |
Deposit of equalization levy |
07.09.2021 |
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3 |
Due date for issue of TDS Certificate for tax deducted under section 194-IA, section 194-IB and section 194-M in the month of August 2021 |
14.09.2021 |
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4 |
Form 3BB is the monthly statement to be furnished by a stock exchange in respect of transactions in which client codes been modified after registering in the system for the month of August 2021 - Form 3BB by Stock Exchange |
15.09.2021 |
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5 |
Due date for furnishing of Form 24G by an office of the Government where TDS/TCS for the month of August, 2021 has been paid without the production of a challan |
15.09.2021 |
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6 |
Advance Income Tax for Quarter July to September 2021 |
15.09.2021 |
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7 |
Statement of TDS return u/s 194IA, 194IB, 194M |
30.09.2021 |
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8 |
Income Tax Return for Individuals & not liable for Tax Audit |
30.09.2021 |
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9 |
The linking of a PAN with an AADHAAR number is required as of April 1st, 2019 (due date). S.O. 1432(E), dated 31-03-202) was extended from 31 March 2021 to 30 June 2021. (Further extended from 30 June 2021 to 30 September 2021 (see Circular No. 12/2021, dated 25-06-2021) (If the PAN is not linked to an AADHAAR number, the PAN becomes inactive and the individual is unable to perform financial activities.) |
30.09.2021 |
Income Tax Due Date - Extensions
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Sl. |
Nature of Extension |
Provisions / Forms of IT Act 1961 |
Original Due Date |
Extended Due Date |
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1 |
The application in Form No. 10A/ Form No.10AB for registration/provisional registration/intimation/approval/provisional approval of Trusts/ Institutions/Research Associations, etc., |
Under Section 10 (23C), 12AB, 35 (1) (ii) /(iia) / (iii) and 80G of the Act |
30.06.2021 |
31.03.2022 |
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2 |
The Quarterly Statement in Form No. 15CC to be provided by authorized dealers in respect of remittances made for the quarter ending June 30, 2021. |
Form No. 15CC |
30.06.2021 |
31.12.2021 |
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3 |
Quarterly statement in Form No. 15CC to be filed by authorized dealers in respect of remittances made for the quarter ending September 30, 2021. |
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15.10.2021 |
31.12.2021 |
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4 |
Form No. 1 Equalization Levy Statement for Fiscal Year 2020-21 |
Form No. 1 |
30.06.2021 |
31.12.2021 |
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5 |
Intimation by an Indian component entity of an international group whose parent organization is not an Indian constituent entity for the purposes of section 286. (1) |
Form No.3CEAC |
30.11.2021 |
31.12.2021 |
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6 |
Report by a parent entity or an alternate reporting entity or any other constituent entity, resident in India, for the purposes of section 286 (2) / 286 (4) |
Form No.3CEAD |
30.11.2021 |
31.12.2021 |
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7 |
Intimation on behalf of an international organization for the purposes of section 286 of the Act's proviso to sub-section (4). |
Form No.3CEAE |
30.11.2021 |
31.12.2021 |
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8 |
Uploading of declarations received from beneficiaries in Form No. 15G/15H for the financial quarter ending June 30th, 2021. |
Form No. 15G/15H |
15.07.2021 |
30.11.2021 |
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9 |
Uploading of declarations received from beneficiaries in Form No. 15G/15H for the financial quarter ending September 30th, 2021. |
Form No. 15G/15H |
15.10.2021 |
31.12.2021 |
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10 |
Sovereign Wealth Fund will make an announcement on its investments in India in Form II SWF for the fiscal quarter ending June 30, 2021. |
Form II SWF |
31.07.2021 |
30.11.2021 |
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11 |
Sovereign Wealth Fund will make an announcement on its investments in India in Form II SWF for the fiscal quarter ending September 30, 2021. |
Form II SWF |
31.10.2021 |
31.12.2021 |
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12 |
Intimation to be given by a Pension Fund in respect of each investment) made in India in Form No. 10BBB for the fiscal quarter ending 30th June, 2021. |
Form No. 10BBB |
31.07.2021 |
30.11.2021 |
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13 |
Intimation must be made by a Pension Fund in Form No. 10BBB for each investment (11) made in India during the fiscal quarter ending September 30, 2021. |
Form No. 10BBB |
31.10.2021 |
31.12.2021 |
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14 |
The Central Board of Direct Taxes (CBDT) has extended the deadline for payment of tax arrears without any extra amount under the Direct Tax Vivad Se Vishwas programme (DTVSV) until September 30, 2021. The previous deadline for this was August 31, 2021. |
Direct Tax Vivad Se Vishwas scheme (DTVSV) |
31.08.2021 |
30.09.2021 |
AUGUST 2021 IMPORTANT UPDATES:
1. The government provides a draft of the declaration that firms must provide in order to drop retroactive tax claims.
In a move that will aid in the closure of retro tax demands against companies such as Cairn Energy and Vodafone PLC, the Income Tax Department released a draft of rules on Saturday that will allow such demands to be dropped if the companies involved give a “irrevocable” undertaking to withdraw all legal cases against the government and not pursue any in the future. Cairn was taxed for an internal reorganization of its India Company prior to listing in 2006, but Vodafone was penalized for failing to withhold tax on the price it paid for purchasing Hutchison's share in the India telecom operation.
IMPORTANT NOTIFICATIONS – For August 2021:
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Sl. |
Particulars of the Notification(s) |
File No. / Circular No. |
Link(s) |
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1. |
2021 Income-tax (20th Amendment) Rules |
Notification No. 82 /2021 |
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2. |
2021 Income-tax (21st Amendment) Rules |
Notification No. 83 /2021 |
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3. |
?Candidates nominated for the job of Tax Assistant in the CBDT through the Combined Graduate Level Examination - 2018 are being asked to indicate their preferred region. |
F. No. HRD/ CM/ 127 /12/2020-21 / 2847 |
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4. |
Time limits for electronic filing of different Forms under the Income-tax Act of 1961 have been extended. |
Circular No. 15 / 2021 |
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5. |
The time restrictions for submitting certain Forms electronically under the Income-tax Act of 1961 have been extended. |
Notification No. 84 /2021 |
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6. |
The Court is hereby designated by the Central Government. |
Notification No. 87 /2021 |
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7 |
2021 Income Tax Amendment (22nd Amendment) Rules |
Notification No. 90 /2021 |
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8 |
2021 Income Tax (23rd Amendment) Rules |
Notification No. 92 /2021 |
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9 |
2021 Income Tax (24th Amendment) Rules |
Notification No. 93 /2021 |
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10 |
The Finance Ministry met with Infosys to discuss issues with the Income Tax Department's e-filing platform. |
Release ID: 1748316 |
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11 |
The Income Tax Department conducts searches in the National Capital Region. |
Release ID: 1746775 |
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