CBDT extends deadline to comply with Sec. 54 to 54GB provisions
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- By Chetan Kulasri
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- Last Updated on 9 January, 2023
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Circular No 1 of 2023 dated 06-01-2023
The Central Board of Direct Taxes (CBDT) has extended the deadlines for taxpayers to comply with the provisions of Section 54 to 54GB due to the then COVID-19 pandemic and related restrictions.
Taxpayers who need to make investments or deposits to claim an exemption under these sections, and who had a deadline falling between April 1, 2021, and February 28, 2022, now have until March 31, 2023, to complete these requirements.
The board had previously granted relief to taxpayers through Circular No. 12 of 2021, dated June 25, 2021. According to this circular, taxpayers who need to make investments, deposits, payments, acquisitions, or other similar actions to claim an exemption under Sections 54 to 54GB and whose deadlines for these actions fall between April 1, 2021, and September 29, 2021, had until September 30, 2021, to complete these requirements.
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