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Govt grants further extension in timelines of compliances

The government has granted further extension in timelines of compliances.

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Govt grants further extension in timelines of compliances
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The airline will deploy a mix of Boeing 737 and Q400 aircraft to serve these routes, ensuring efficient and comfortable travel experiences for passengers.

26 Jun 2021 12:53 PM IST

Mumbai, Jun 26 The government has granted further extension in timelines of compliances.

Also, it has announced tax exemption for expenditure on COVID-19 treatment and ex-gratia received on death due to COVID-19.

Unfortunately, certain taxpayers have lost their life due to COVID-19. Employers and well-wishers of such taxpayers had extended financial assistance to their family members so that they could cope with the difficulties arisen due to the sudden loss of the earning member of their family. In order to provide relief to the family members of such taxpayer, 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 the death of the person on account of COVID-19 during FY 2019-20 and subsequent years. The exemption shall be allowed without any limit for the amount received from the employer and the exemption shall be limited to Rs10 lakh in aggregate for the amount received from any other persons.

Commenting on it, I-T expert Abhishek Aneja said that it is a welcome step to provide relief on the ex-gratia on death due to Covid 19 received by the family members.

As regards the extension of due dates, he said, the tax professionals are facing many technical issues in the new income tax portal, launched by the Government earlier this month. Therefore, extension was required in present circumstances to carry on the work smoothly.

Objections to Dispute Resolution Panel (DRP) and Assessing Officer under section 144C of the

I-T Act for which the last date of filing under that section is June 01, or thereafter, may be filed within the time provided in that section or by August 31.


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