Income TaxRecent Developments Amendments by The Taxation And Other Laws (Relaxation And Amendment of Certain Provisions) Act, 2020 (Other Than Those Relating to Faceless)

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The Tax Publishers Income Tax--Recent Developments Amendments by The Taxation And Other Laws (Relaxation And Amendment of Certain Provisions) Act, 2020 (Other Than Those Relating to Faceless) CA Manoj Gupta The Taxation And Other Laws (Relaxation And Amendment of Certain Provisions) Act, 2020 has carried out various amendments in the Act. The learned author explains these amendments other than those relating to faceless. 1. Extension of time limits for filing of applications, appeals, returns, reports section 3(1) of the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 [Act] provides that where, anytime limit has been specified in, or prescribed or notified under, the specified Act which falls during the period from the 20-3-2020 to 31-12-2020 or such other date after 31-12-2020 as may be notified by the Central Government, for the completion or compliance of such action as-- (a) completion of any proceeding or passing of any order or issuance of any notice, intimation, notification, sanction or approval or such other action, by whatever name called, by any authority, commission or tribunal, by whatever name called, under the provisions of the specified Act; or (b) filing of any appeal, reply or application or furnishing of any report, document, return, statement or such other record, by whatever name called, under the provisions of the specified Act, or (c) in case where the specified Act is the Income-tax Act, 1961,-- (i) making of investment, deposit, payment, acquisition, purchase, construction or such other action, by whatever name called, for the purposes of claiming any deduction, exemption or allowance under the provisions contained in-- (I) Sections 54 to 54GB, or under any provisions of Chapter VI-A under the heading 'B.-Deductions in respect of certain payments' thereof; or (II) such other provisions of that Act, subject to fulfillment of such conditions, as the Central Government may, by notification, specify; or (III) beginning of manufacture or production of articles or things or providing any services referred to in Section 10AA of that Act, in a case where the letter of approval, required to be issued in accordance with the provisions of the Special Economic Zones Act, 2005, has been issued on or before the 31st day of March, 2020, and where completion or compliance of such action has not been made within such time, then, the time limit for completion or compliance of such action shall, notwithstanding anything contained in the specified Act, stand extended to the 31-3-2021, or such other date after 31-3-2021, as the Central Government may, by notification, specify in this behalf. First proviso to Section 3(1) of the Act provides that the Central Government may specify different dates for completion or compliance of different actions. However, specific end dates have been prescribed for some actions by third proviso to Section 3(1) of the Act. Accordingly, where the specified Act is the Income-tax Act, 1961 and the compliance relates to-- (i) furnishing of return under Section 139 thereof, for the assessment year commencing on the (a) 1st day of April, 2019 [i.e. For assessment year 2019-20], the end date shall be extended to the 30th September, 2020[1]; SUBSCRIBE FOR FULL CONTENT

The Tax Publishers

Income Tax--Recent Developments

Amendments by The Taxation And Other Laws (Relaxation And Amendment of Certain Provisions) Act, 2020 (Other Than Those Relating to Faceless)

CA Manoj Gupta

The Taxation And Other Laws (Relaxation And Amendment of Certain Provisions) Act, 2020 has carried out various amendments in the Act. The learned author explains these amendments other than those relating to faceless.

1. Extension of time limits for filing of applications, appeals, returns, reports

section 3(1) of the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 [Act] provides that where, anytime limit has been specified in, or prescribed or notified under, the specified Act which falls during the period from the 20-3-2020 to 31-12-2020 or such other date after 31-12-2020 as may be notified by the Central Government, for the completion or compliance of such action as--

(a) completion of any proceeding or passing of any order or issuance of any notice, intimation, notification, sanction or approval or such other action, by whatever name called, by any authority, commission or tribunal, by whatever name called, under the provisions of the specified Act; or

(b) filing of any appeal, reply or application or furnishing of any report, document, return, statement or such other record, by whatever name called, under the provisions of the specified Act, or

(i) making of investment, deposit, payment, acquisition, purchase, construction or such other action, by whatever name called, for the purposes of claiming any deduction, exemption or allowance under the provisions contained in--

(I) Sections 54 to 54GB, or under any provisions of Chapter VI-A under the heading 'B.-Deductions in respect of certain payments' thereof; or

(II) such other provisions of that Act, subject to fulfillment of such conditions, as the Central Government may, by notification, specify; or

(III) beginning of manufacture or production of articles or things or providing any services referred to in Section 10AA of that Act, in a case where the letter of approval, required to be issued in accordance with the provisions of the Special Economic Zones Act, 2005, has been issued on or before the 31st day of March, 2020,

and where completion or compliance of such action has not been made within such time, then, the time limit for completion or compliance of such action shall, notwithstanding anything contained in the specified Act, stand extended to the 31-3-2021, or such other date after 31-3-2021, as the Central Government may, by notification, specify in this behalf.

First proviso to Section 3(1) of the Act provides that the Central Government may specify different dates for completion or compliance of different actions.

However, specific end dates have been prescribed for some actions by third proviso to Section 3(1) of the Act. Accordingly, where the specified Act is the Income-tax Act, 1961 and the compliance relates to--

(i) furnishing of return under Section 139 thereof, for the assessment year commencing on the

(a) 1st day of April, 2019 [i.e. For assessment year 2019-20], the end date shall be extended to the 30th September, 2020[1];