The Income Tax Department Will Accept Cases Pending Settlement Until 30 September.
The Central Board of Direct Taxes has directed the income tax department to accept all requests for pending tax settlement cases until September 30, 2021.
The Central Board of Direct Taxes (CBDT) has directed the income tax department to accept all pending tax settlement applications until September 30, 2021.
In an order dated September 28, CBDT ordered the Income Tax Commissioner to admit all pending applications to resolve the cases.
Taxpayers will now be able to submit their applications to the interim board until September 30.
Through an amendment to the Finance Act through the Union Budget of 2021-22, the Income Tax Act of 1961 was amended, leading to the cessation of operations of the Tax Settlement Commission. Income (ITSC) from February 1, 2021 onwards.
It was also ordered that applications for the settlement of quotas could not be submitted as of February 1, 2021. Therefore, to settle all the applications that were pending as of January 31, 2021, the government had established the Provisional Liquidation Board (IBS). .
However, after receiving numerous requests and representations from taxpayers across the country, mainly from those who were in advanced stages of filing their settlement requests, but were unable to do so due to the termination of ITSC, CBDT granted an extension until September 30, 2021 to submit your application. requests to the interim board.
However, relief to said taxpayers has been granted on the condition that they are eligible to submit requests for the settlement of their quotas on January 31, 2021 and that all the required procedures are pending as of the date of their submission.