FinMin extends Vivad se Vishwas, other deadlines amid COVID surge

The Ministry of Finance announced on Saturday that it has extended certain timelines in light of the raging COVID-19 pandemic in the country. The Centre has decided that the time limit for paying the amount payable under the Direct Tax Vivad se Vishwas Act, 2020, without an additional amount, will be further extended to June 30, 2021.

The Centre has also decided to extend the time limits to June 30, 2021, in the following cases where the time limit was earlier extended to April 30 through various notifications issued under the Taxation and Other Laws (Relaxation) and Amendment of Certain Provisions Act, 2020, namely:-

1. Time limit for passing of any order for assessment or reassessment under the Income-tax Act, 1961(hereinafter called 'the Act' ) the time limit for which is provided under section 153 or section 153B thereof;
2. Time limit for passing an order consequent to direction of DRP under sub-section (13) of section 144C of the Act;
3. Time limit for issuance of notice under section 148 of the Act for reopening the assessment where income has escaped assessment;
4. Time Limit for sending intimation of processing of Equalisation Levy under sub-section (1) of section 168 of the Finance Act 2016.

"In view of the severe COVID-19 pandemic raging unabated across the country affecting the lives of our people, and in view of requests received from taxpayers, tax consultants and other stakeholders that various time barring dates, which were earlier extended to April 30, 2021 by various notifications, as well as under the Direct Tax Vivad se Vishwas Act, 2020, may be further extended, the Government has extended certain timelines today," read a Ministry of Finance statement.

Notifications to extend the abovementioned deadlines shall be issued in due course, release further added.

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