IT Return: Complete these Income Tax-related tasks before deadline - Details inside

 













In the wake of the ongoing COVID-19 pandemic, the Finance Ministry has extended a host of timelines for compliances for income tax to ease the complications of taxpayers. The government also announced that tax exemption will be given for expenditure on COVID-19 treatment and ex-gratia in case of death.

However, there are certain things related to Income Tax Returns that need to be completed before July 31. Check them out here.

- TDS certificate, known as Form 16 was required to be provided to the employee by June 15, 2021. However, it has now been extended to July 31, 2021. The due date for the issue of the TDS Certificate for tax deducted under section 194-IA in the month of May 2021 is July 15, 2021. Meanwhile, the quarterly statement of TDS needs to be deposited on July 31, 2021.

The due date for statement of income paid or credited by an investment fund to its unit holder in Form 64C for the year 2020-21 was earlier June 30, 2021, but it has been extended to July 31, 2021.

- Before July 31, 2021, the quarterly statement in Form 15CC needs to be furnished by authorised dealer in respect of remittances made for the quarter.



For the Financial year 2020-21, the Equalisation Levy Statement in Form No. 1 needs to be furnished on or before July 31, 2021. The earlier due date was June 30, 2021.

The Central Board of Direct Taxes (CBDT) has extended the final date of furnishing Form No 3CEK for the FY2020-21 from June 29, 2021, to July 31, 2021.

\Form No. 34BB, through which one can withdraw a pending application (filed before the erstwhile Income Tax Settlement Commission), can be exercised on or before July 31, 2021. The previous deadline was June 27, 2021.




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