Payroll & Compliance – The Monthly Chronicle – August 2021

In this edition, learn about key legislative updates including

  • Income Tax Return (ITR) due date extended
  • Form 16 issuance due date has been extended to 31 July 2021. Individuals and Organizations can start filing the income tax return post receipt of Form 16.

    Below are few extended reliefs provided to individuals to help reduce the compliance burden:

    • Submission of Form No. 15G/15H extended to 31 August 2021
    • The due date to comply with the conditions u/s 54 and 54GB for investment, deposit, payment, acquisition, purchase, construction, or such other action has been extended till 30th September 2021.
    • The due date for filing Income Tax return (for Individuals and HUF) for AY 2021 22 has been extended to 30 September 2021 (earlier the due date was 31 July 2021)

The newsletter also covers some other topics: 

  • AADHAAR linking and seeding with UAN due date ends on 1 September 2021
  • Government announces 2022 list of holidays
  • Atmanirbhar Bharath Rozgar Yojana (ABRY) Scheme extended till March 2022
  • Big relief for Offline Income Tax Return filers

TAGS: Payroll HR Finance Legislation Risk and Compliance