Letter to the editor
Relief on financial compliances
The Centre Government’s decision to extend certain financial timelines in light of this severe pandemic is a welcome move. The timelines of different fourteen compliances under the Income-tax Act 1961 have been extended till 30th June, and further.
The Statement of Financial Transactions for the Financial Year 2020-21, Statement of Reportable Account for the calendar year 2020, and Statement of Deduction of Tax for the last quarter of the Financial Year 2020-21 may be furnished on or before 30th June 2021.
Moreover, the due date of furnishing of Return of Income for the Assessment Year 2021-22 is extended to 31st December 2021. This would be a big relief to business owners and the corporate sector to fulfill their financial compliances.
Amit Singh Kushwaha, Satna (MP)