Government extends certain deadlines to make compliance easier
After considering representations from various stakeholders, the Central Government has agreed to extend deadlines for compliance with the Income-tax Act, 1961 (hereinafter referred to as “the Act”), in the following situations as follows:
Penalty procedures under the Act now have a deadline of 31 March 2022 instead of 30 September 2021.
As a result, until March 31, 2022, the Adjudicating Authority can issue notice and pass an order under the Prohibition of Benami Property Transactions Act, 1988.
This Notification No. 113 of 2021, dated September 17th, 2021, can be found at www.incometaxindia.gov.in.